4 false false false false false false false false false false true false false false false false false No description of principal activity 2024-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 25,000 17,500 2,500 20,000 5,000 7,500 64,404 47,673 2,510 50,183 14,221 16,731 xbrli:pure xbrli:shares iso4217:GBP 04357034 2024-02-01 2025-01-31 04357034 2025-01-31 04357034 2024-01-31 04357034 2023-02-01 2024-01-31 04357034 2024-01-31 04357034 2023-01-31 04357034 core:FurnitureFittings 2024-02-01 2025-01-31 04357034 bus:Director2 2024-02-01 2025-01-31 04357034 core:NetGoodwill 2024-01-31 04357034 core:NetGoodwill 2025-01-31 04357034 core:FurnitureFittings 2024-01-31 04357034 core:FurnitureFittings 2025-01-31 04357034 core:WithinOneYear 2025-01-31 04357034 core:WithinOneYear 2024-01-31 04357034 core:AfterOneYear 2025-01-31 04357034 core:AfterOneYear 2024-01-31 04357034 core:ShareCapital 2025-01-31 04357034 core:ShareCapital 2024-01-31 04357034 core:RetainedEarningsAccumulatedLosses 2025-01-31 04357034 core:RetainedEarningsAccumulatedLosses 2024-01-31 04357034 core:NetGoodwill 2024-02-01 2025-01-31 04357034 core:NetGoodwill 2024-01-31 04357034 core:FurnitureFittings 2024-01-31 04357034 bus:SmallEntities 2024-02-01 2025-01-31 04357034 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 04357034 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 04357034 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 04357034 bus:FullAccounts 2024-02-01 2025-01-31
COMPANY REGISTRATION NUMBER: 04357034
East London Car & Commercial Limited
Filleted Unaudited Financial Statements
For the year ended
31 January 2025
East London Car & Commercial Limited
Statement of Financial Position
31 January 2025
2025
2024
Note
£
£
£
Fixed assets
Intangible assets
5
5,000
7,500
Tangible assets
6
14,221
16,731
--------
--------
19,221
24,231
Current assets
Stocks
11,000
7,000
Debtors
7
2,000
2,000
Cash at bank and in hand
36,045
54,852
--------
--------
49,045
63,852
Creditors: amounts falling due within one year
8
41,209
44,552
--------
--------
Net current assets
7,836
19,300
--------
--------
Total assets less current liabilities
27,057
43,531
Creditors: amounts falling due after more than one year
9
4,736
14,975
Provisions
Taxation including deferred tax
3,555
3,179
--------
--------
Net assets
18,766
25,377
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
18,666
25,277
--------
--------
Shareholders funds
18,766
25,377
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
East London Car & Commercial Limited
Statement of Financial Position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 15 April 2025 , and are signed on behalf of the board by:
D C Green Director
Company registration number: 04357034
East London Car & Commercial Limited
Notes to the Financial Statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 47B High Street, Ongar, Essex, CM5 9DT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discounts and value added tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 February 2024 and 31 January 2025
25,000
--------
Amortisation
At 1 February 2024
17,500
Charge for the year
2,500
--------
At 31 January 2025
20,000
--------
Carrying amount
At 31 January 2025
5,000
--------
At 31 January 2024
7,500
--------
6. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 February 2024 and 31 January 2025
64,404
64,404
--------
--------
Depreciation
At 1 February 2024
47,673
47,673
Charge for the year
2,510
2,510
--------
--------
At 31 January 2025
50,183
50,183
--------
--------
Carrying amount
At 31 January 2025
14,221
14,221
--------
--------
At 31 January 2024
16,731
16,731
--------
--------
7. Debtors
2025
2024
£
£
Trade debtors
2,000
2,000
-------
-------
8. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
4,500
4,501
Corporation tax
13,513
16,814
Social security and other taxes
7,202
6,652
Other creditors
5,994
6,585
--------
--------
41,209
44,552
--------
--------
9. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
4,736
14,975
-------
--------
10. Directors' advances, credits and guarantees
There are no directors advances, credits and guarantees to be disclosed.