08594945falsesale of classic cars2023-09-012024-08-31http://www.companieshouse.gov.uk/2023-08-31http://www.companieshouse.gov.uk/pt:ShareCapital2023-08-31http://www.companieshouse.gov.uk/cd:Director12023-09-012024-08-31http://www.companieshouse.gov.uk/pt:ShareCapital2024-08-31http://www.companieshouse.gov.uk/cd:Director22023-09-012024-08-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2023-08-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-09-012024-08-31http://www.companieshouse.gov.uk/pt:MotorCars2023-08-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2024-08-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-09-012024-08-31http://www.companieshouse.gov.uk/pt:MotorCars2024-08-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-09-012024-08-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-08-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-08-31http://www.companieshouse.gov.uk/2023-09-012024-08-31http://www.companieshouse.gov.uk/2023-08-31http://www.companieshouse.gov.uk/cd:FRS1022023-09-012024-08-31http://www.companieshouse.gov.uk/2024-08-31http://www.companieshouse.gov.uk/cd:FullAccounts2023-09-012024-08-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-09-012024-08-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 08594945

KGF Classic Cars Ltd

ACCOUNTS
FOR THE YEAR ENDED 31/08/2024

Prepared By:
David Jeffreys Limited
Chartered Accountant
First Floor
4 Princes Street
Huntingdon
Cambs
PE29 3PA

KGF Classic Cars Ltd

ACCOUNTS
FOR THE YEAR ENDED 31/08/2024
DIRECTORS
K G Fasulo
Mrs R Fasulo
REGISTERED OFFICE
Unit 6C Roundhouse Close
Fengate
Peterborough
Cambridgeshire
PE1 5TA
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 08594945
ACCOUNTANTS
David Jeffreys Limited
Chartered Accountant
First Floor
4 Princes Street
Huntingdon
Cambs
PE29 3PA

KGF Classic Cars Ltd

ACCOUNTS
FOR THEYEARENDED31/08/2024
CONTENTS
Page
Balance Sheet3
Notes To The Accounts4

KGF Classic Cars Ltd

BALANCE SHEET AT 31/08/2024
20242023
Notes££
FIXED ASSETS
Tangible assets364,06937,228
CURRENT ASSETS
Stock104,51894,700
Debtors52,3012,109
Cash at bank and in hand832,068882,002
938,887978,811
CREDITORS: Amounts falling due within one year687,06989,941
NET CURRENT ASSETS851,818888,870
TOTAL ASSETS LESS CURRENT LIABILITIES915,887926,098
PROVISIONS FOR LIABILITIES AND CHARGES716,0177,410
NET ASSETS899,870918,688
CAPITAL AND RESERVES
Called up share capital81010
Profit and loss account899,860918,678
SHAREHOLDERS' FUNDS899,870918,688
For the year ending 31/08/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 26/03/2025 and signed on their behalf by
.............................
K G Fasulo
Director

KGF Classic Cars Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/08/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentreducing balance 25%
Motor Vehiclesreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
2. EMPLOYEES
20242023
No.No.
Average number of employees44

KGF Classic Cars Ltd

3. TANGIBLE FIXED ASSETS
EquipmentMotor vehiclesTotal
£££
Cost
At 01/09/202339,24475,537114,781
Additions4,05144,14648,197
At 31/08/202443,295119,683162,978
Depreciation
At 01/09/202324,82652,72777,553
For the year4,61716,73921,356
At 31/08/202429,44369,46698,909
Net Book Amounts
At 31/08/202413,85250,21764,069
At 31/08/202314,41822,81037,228
4. STOCK 20242023
££
Stock comprises:
Stock104,51894,700
104,51894,700
5. DEBTORS 20242023
££
Amounts falling due within one year
Prepayments2,3012,109
2,3012,109
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax67,18167,537
VAT16,08218,437
PAYE control8691,172
Directors current account1,055981
Pension schemes132114
Accruals1,7501,700
87,06989,941

KGF Classic Cars Ltd

7. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation16,0177,410
16,0177,410
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
10 Ordinary shares of £1 each1010
1010