Registered number
07067178
Car Classic Ltd
Filleted Accounts
30 November 2024
Car Classic Ltd
Registered number: 07067178
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 54,707 -
Current assets
Debtors 4 64,355 82,139
Cash at bank and in hand 34,891 11,370
99,246 93,509
Creditors: amounts falling due within one year 5 (84,815) (72,638)
Net current assets 14,431 20,871
Total assets less current liabilities 69,138 20,871
Creditors: amounts falling due after more than one year 6 (59,241) -
Net assets 9,897 20,871
Capital and reserves
Called up share capital 100 100
Profit and loss account 9,797 20,771
Shareholders' funds 9,897 20,871
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 her 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.
H S Kweon
Director
Approved by the board on 31 July 2025
Car Classic Ltd
Notes to the Accounts
for the year ended 30 November 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 rendering of services. 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.
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:
Moto vehicle 20% reducing balance
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Motor vehicle
£
Cost
Additions 68,384
At 30 November 2024 68,384
Depreciation
Charge for the year 13,677
At 30 November 2024 13,677
Net book value
At 30 November 2024 54,707
4 Debtors 2024 2023
£ £
Trade debtors 64,355 82,139
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,023 9,875
Other creditors 83,792 62,763
84,815 72,638
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 59,241 -
7 Other information
Car Classic Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 41, Chessington Business Centre
37 Cox Lane
Chessington
Surrey
KT9 1SD
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