Registered number
06630351
BC&R Car & Van Centre Ltd
Filleted Accounts
31 August 2024
BC&R Car & Van Centre Ltd
Registered number: 06630351
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 3,244 4,057
Tangible assets 4 51,385 46,652
54,629 50,709
Current assets
Stocks 51,750 52,450
Debtors 5 128,430 102,744
Cash at bank and in hand 30,732 86,714
210,912 241,908
Creditors: amounts falling due within one year 6 (178,097) (189,254)
Net current assets 32,815 52,654
Total assets less current liabilities 87,444 103,363
Creditors: amounts falling due after more than one year 7 (26,400) (61,600)
Net assets 61,044 41,763
Capital and reserves
Called up share capital 100 100
Profit and loss account 60,944 41,663
Shareholders' funds 61,044 41,763
Loan to director - included within Current assets is an amount owing to the company by the director. The balance owed by the director to the company at the end of the financial year was £9745, the highest amount outstanding in the year was £9745.
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Betts
Director
Approved by the board on 19 May 2025
BC&R Car & Van Centre Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 16,250
At 31 August 2024 16,250
Amortisation
At 1 September 2023 12,193
Provided during the year 813
At 31 August 2024 13,006
Net book value
At 31 August 2024 3,244
At 31 August 2023 4,057
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 7,965 176,367 14,500 198,832
Additions - 10,981 3,000 13,981
Disposals - - (1,500) (1,500)
At 31 August 2024 7,965 187,348 16,000 211,313
Depreciation
At 1 September 2023 7,965 134,331 9,884 152,180
Charge for the year - 7,549 1,353 8,902
On disposals - - (1,154) (1,154)
At 31 August 2024 7,965 141,880 10,083 159,928
Net book value
At 31 August 2024 - 45,468 5,917 51,385
At 31 August 2023 - 42,036 4,616 46,652
5 Debtors 2024 2023
£ £
Trade debtors 40,716 28,334
Other debtors 87,714 74,410
128,430 102,744
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 35,200 35,200
Trade creditors 79,375 85,566
Taxation and social security costs 59,995 65,031
Other creditors 3,527 3,457
178,097 189,254
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,400 61,600
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr S Betts
Overdrawn Directors loan accont 9,450 295 - 9,745
9,450 295 - 9,745
9 Other information
BC&R Car & Van Centre Ltd is a private company limited by shares and incorporated in England. Its registered office is:
St Ann's House
St Ann's Street
Kings Lynn
Norfolk
PE30 1LT
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