The Picture Car Company Limited 08573777 false 2023-06-29 2024-06-28 2024-06-28 The principal activity of the company is that of sale of used cars and light motor vehicles & maintenance and repair of motor vehicles. Digita Accounts Production Advanced 6.30.9574.0 true 08573777 2023-06-29 2024-06-28 08573777 2024-06-28 08573777 core:RetainedEarningsAccumulatedLosses 2024-06-28 08573777 core:ShareCapital 2024-06-28 08573777 core:CurrentFinancialInstruments 2024-06-28 08573777 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-28 08573777 core:FurnitureFittings 2024-06-28 08573777 core:MotorVehicles 2024-06-28 08573777 core:PlantMachinery 2024-06-28 08573777 bus:SmallEntities 2023-06-29 2024-06-28 08573777 bus:AuditExemptWithAccountantsReport 2023-06-29 2024-06-28 08573777 bus:AbridgedAccounts 2023-06-29 2024-06-28 08573777 bus:SmallCompaniesRegimeForAccounts 2023-06-29 2024-06-28 08573777 bus:RegisteredOffice 2023-06-29 2024-06-28 08573777 bus:Director2 2023-06-29 2024-06-28 08573777 bus:PrivateLimitedCompanyLtd 2023-06-29 2024-06-28 08573777 core:FurnitureFittings 2023-06-29 2024-06-28 08573777 core:FurnitureFittingsToolsEquipment 2023-06-29 2024-06-28 08573777 core:MotorVehicles 2023-06-29 2024-06-28 08573777 core:PlantMachinery 2023-06-29 2024-06-28 08573777 countries:AllCountries 2023-06-29 2024-06-28 08573777 2023-06-28 08573777 core:FurnitureFittings 2023-06-28 08573777 core:MotorVehicles 2023-06-28 08573777 core:PlantMachinery 2023-06-28 08573777 2022-06-29 2023-06-28 08573777 2023-06-28 08573777 core:RetainedEarningsAccumulatedLosses 2023-06-28 08573777 core:ShareCapital 2023-06-28 08573777 core:CurrentFinancialInstruments 2023-06-28 08573777 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-28 08573777 core:FurnitureFittings 2023-06-28 08573777 core:MotorVehicles 2023-06-28 08573777 core:PlantMachinery 2023-06-28 iso4217:GBP xbrli:pure

Registration number: 08573777

The Picture Car Company Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 28 June 2024

 

The Picture Car Company Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

The Picture Car Company Limited

Company Information

Director

I Clarke

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

The Picture Car Company Limited

(Registration number: 08573777)
Abridged Balance Sheet as at 28 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

291,679

142,565

Current assets

 

Debtors

257,961

331,653

Cash at bank and in hand

 

168,973

145,862

 

426,934

477,515

Creditors: Amounts falling due within one year

(338,908)

(280,475)

Net current assets

 

88,026

197,040

Total assets less current liabilities

 

379,705

339,605

Provisions for liabilities

(36,104)

(33,624)

Net assets

 

343,601

305,981

Capital and reserves

 

Called up share capital

100

100

Retained earnings

343,501

305,881

Shareholders' funds

 

343,601

305,981

For the financial year ending 28 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

The Picture Car Company Limited

(Registration number: 08573777)
Abridged Balance Sheet as at 28 June 2024

Approved and authorised by the director on 27 June 2025
 

.........................................
I Clarke
Director

   
     
 

The Picture Car Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 June 2024

1

Accounting policies

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

The Picture Car Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 June 2024

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:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

20% reducing balance

Fixtures, fitting & equipments

25% reducing balance

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

The Picture Car Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 June 2024

3

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 29 June 2023

14,757

121,561

277,528

413,846

Additions

3,206

11,597

210,294

225,097

At 28 June 2024

17,963

133,158

487,822

638,943

Depreciation

At 29 June 2023

10,301

91,793

169,187

271,281

Charge for the year

1,915

10,341

63,727

75,983

At 28 June 2024

12,216

102,134

232,914

347,264

Carrying amount

At 28 June 2024

5,747

31,024

254,908

291,679

At 28 June 2023

4,456

29,768

108,341

142,565

4

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100