Registration number:
Rotherham Car and Van Breakers Limited
for the Year Ended 31 May 2024
Rotherham Car and Van Breakers Limited
(Registration number: 08497020)
Balance Sheet as at 31 May 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
Rotherham Car and Van Breakers Limited
(Registration number: 08497020)
Balance Sheet as at 31 May 2024 (continued)
.........................................
Mr Anthony John Parkin
Director
Rotherham Car and Van Breakers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
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Accounting policies |
Statutory information
Rotherham Car and Van Breakers Limited is a private company, limited by shares, domiciled in England and Wales, company number 08497020. The registered office is at Aldwarke Road, Parkgate, Rotherham, S62 6BZ.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Land & buildings |
10% Straight Line |
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Plant & machinery |
25% Reducing Balance |
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Computer equipment |
25% Straight Line |
Rotherham Car and Van Breakers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
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1 |
Accounting policies (continued) |
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Fixtures & fittings |
20% Reducing Balance |
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Motor vehicles |
25% Reducing Balance |
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Rotherham Car and Van Breakers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
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Tangible assets |
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Land and buildings |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
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Cost |
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At 1 June 2023 |
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Additions |
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- |
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At 31 May 2024 |
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Depreciation |
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At 1 June 2023 |
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Charge for the year |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
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At 31 May 2023 |
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Total |
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Cost |
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At 1 June 2023 |
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Additions |
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At 31 May 2024 |
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Depreciation |
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At 1 June 2023 |
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Charge for the year |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
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At 31 May 2023 |
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Stocks |
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2024 |
2023 |
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Other inventories |
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Rotherham Car and Van Breakers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
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Debtors |
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Current |
2024 |
2023 |
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Trade debtors |
( |
( |
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Prepayments |
- |
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( |
( |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Loans and borrowings |
32,919 |
32,919 |
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Trade creditors |
80,435 |
75,986 |
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Taxation and social security |
13,109 |
14,466 |
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Accruals and deferred income |
4,693 |
3,943 |
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Other creditors |
115,556 |
138,988 |
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246,712 |
266,302 |
Creditors: amounts falling due after more than one year
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2024 |
2023 |
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Loans and borrowings |
55,460 |
88,379 |
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Hire purchase contracts |
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Current loans and borrowings
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2024 |
2023 |
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Hire purchase contracts |
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The hire purchase contracts are secured on the assets concerned.