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Registration number: 07988871

CCS Car Sales (Thatcham) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

CCS Car Sales (Thatcham) Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

CCS Car Sales (Thatcham) Limited

(Registration number: 07988871)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

14,038

18,934

Current assets

 

Stocks

5

520,999

559,802

Debtors

6

380,615

332,455

Cash at bank and in hand

 

132,993

109,039

 

1,034,607

1,001,296

Creditors: Amounts falling due within one year

7

(192,802)

(224,691)

Net current assets

 

841,805

776,605

Total assets less current liabilities

 

855,843

795,539

Provisions for liabilities

(2,029)

(3,159)

Net assets

 

853,814

792,380

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

852,814

791,380

Shareholders' funds

 

853,814

792,380

 

CCS Car Sales (Thatcham) Limited

(Registration number: 07988871)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 July 2025
 

.........................................
Mr P M Legassick
Director

 

CCS Car Sales (Thatcham) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale and repair of motor vehicles. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

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.

 

CCS Car Sales (Thatcham) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

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

Office equipment

15% of net book value

Plant and equipment

25% of net book value

Fixtures and fittings

25% of net book value

Motor vehicles

25% of net book value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 6).

 

CCS Car Sales (Thatcham) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

1,111

479

6,593

15,000

23,183

Additions

-

-

999

-

999

Disposals

-

-

(2,776)

-

(2,776)

At 31 October 2024

1,111

479

4,816

15,000

21,406

Depreciation

At 1 November 2023

488

350

1,988

1,423

4,249

Charge for the year

156

32

451

3,394

4,033

Eliminated on disposal

-

-

(914)

-

(914)

At 31 October 2024

644

382

1,525

4,817

7,368

Carrying amount

At 31 October 2024

467

97

3,291

10,183

14,038

At 31 October 2023

623

129

4,605

13,577

18,934

 

CCS Car Sales (Thatcham) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

5

Stocks

2024
£

2023
£

Stock

520,999

559,802

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

24,076

18,943

Amounts owed by group undertakings

8

356,480

312,480

Prepayments

 

59

732

Other debtors

 

-

300

   

380,615

332,455

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

20,811

27,596

Amounts owed to group undertakings

16,422

11,489

Taxation and social security

74,801

64,886

Other creditors

80,768

120,720

192,802

224,691

 

CCS Car Sales (Thatcham) Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

8

Related party transactions

Transactions with the director

Summary of transactions with other related parties

Thatcham MOT & Service Centre Limited (fellow subsidiary). At the balance sheet date the amount owed to Thatcham MOT & Service Centre Limited was £16,422 (2023 - £11,488).

PML Holdings Limited (holding company). At the balance sheet date the amount owed from PML Holdings Limited was £356,480 (2023 - £312,480).

 

9

Parent and ultimate parent undertaking

The ultimate controlling party is PML Holdings Limited.