Caseware UK (AP4) 2024.0.164 2024.0.164 2023-07-01falseSale of used cars and light motor vehicles33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08100750 2023-07-01 2024-06-30 08100750 2022-07-01 2023-06-30 08100750 2024-06-30 08100750 2023-06-30 08100750 c:Director1 2023-07-01 2024-06-30 08100750 d:CurrentFinancialInstruments 2024-06-30 08100750 d:CurrentFinancialInstruments 2023-06-30 08100750 d:Non-currentFinancialInstruments 2024-06-30 08100750 d:Non-currentFinancialInstruments 2023-06-30 08100750 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 08100750 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08100750 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 08100750 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 08100750 d:UKTax 2023-07-01 2024-06-30 08100750 d:UKTax 2022-07-01 2023-06-30 08100750 d:ShareCapital 2024-06-30 08100750 d:ShareCapital 2023-06-30 08100750 d:RetainedEarningsAccumulatedLosses 2024-06-30 08100750 d:RetainedEarningsAccumulatedLosses 2023-06-30 08100750 c:FRS102 2023-07-01 2024-06-30 08100750 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08100750 c:FullAccounts 2023-07-01 2024-06-30 08100750 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08100750 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 08100750









WESTSIDE CARS LIMITED







Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2024

 
WESTSIDE CARS LIMITED
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WESTSIDE CARS LIMITED FOR THE YEAR ENDED 30 JUNE 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westside Cars Limited for the year ended 30 June 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Westside Cars Limited in accordance with the terms of our engagement letter dated 24 March 2025Our work has been undertaken solely to prepare for your approval the financial statements of Westside Cars Limited and state those matters that we have agreed to state to the director of Westside Cars Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westside Cars Limited and its director for our work or for this report. 

It is your duty to ensure that Westside Cars Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Westside Cars Limited. You consider that Westside Cars Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Westside Cars Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Fraser Russell Limited
 
77 Francis Road
Edgbaston
Birmingham
West Midlands
B16 8SP
28 March 2025
Page 1

 
WESTSIDE CARS LIMITED
Registered number: 08100750

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
244,926
326,805

Debtors: amounts falling due within one year
 5 
415,518
515,492

Cash at bank and in hand
 6 
47,555
-

  
707,999
842,297

Creditors: amounts falling due within one year
 7 
(399,337)
(573,963)

Net current assets
  
 
 
308,662
 
 
268,334

Total assets less current liabilities
  
308,662
268,334

Creditors: amounts falling due after more than one year
 8 
-
(25,000)

  

Net assets
  
308,662
243,334


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
308,562
243,234

  
308,662
243,334

Page 2

 
WESTSIDE CARS LIMITED
Registered number: 08100750
    
Balance sheet (continued)
As at 30 June 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2025.




Amarprit Singh Uppal
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
WESTSIDE CARS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

1.


General information

Westside Cars Limited is a company limited by shares incorporated in England within the United Kingdom, having a registration of 08100750. The address of the registered office is 77 Francis Road, Birmingham, England, B16 8SP. The principal activity of the company in the year was that of a seller of second hand cars. 
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

Page 4

 
WESTSIDE CARS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 5

 
WESTSIDE CARS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
9,460
9,369


9,460
9,369


Total current tax
9,460
9,369
Page 6

 
WESTSIDE CARS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024
 
4.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is the same as (2023 - the same as) the standard rate of corporation tax in the UK of 19% (2023 - 19%) as set out below:

2024
2023
£
£


Profit on ordinary activities before tax
49,788
49,308


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2023 - 19%)
9,460
9,369

Effects of:

Total tax charge for the year
9,460
9,369


Factors that may affect future tax charges

There were no factors that may affect future tax charges.
Page 7

 
WESTSIDE CARS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

5.


Debtors

2024
2023
£
£


Trade debtors
50,820
150,794

Prepayments and accrued income
364,698
364,698

415,518
515,492



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
47,555
-

Less: bank overdrafts
-
(626)

47,555
(626)



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
626

Bank loans
5,145
11,501

Trade creditors
39,699
228,333

Corporation tax
7,932
10,472

Other taxation and social security
106,382
96,761

Other creditors
237,679
223,770

Accruals and deferred income
2,500
2,500

399,337
573,963


2024
2023
£
£

Other taxation and social security

PAYE/NI control
6,686
5,890

VAT control
99,696
90,871

106,382
96,761


Page 8

 
WESTSIDE CARS LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
25,000

-
25,000


 
Page 9