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Company No: 12341271 (England and Wales)

YORK CAR AND COMMERCIAL LTD

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

YORK CAR AND COMMERCIAL LTD

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

YORK CAR AND COMMERCIAL LTD

COMPANY INFORMATION

For the financial year ended 30 November 2024
YORK CAR AND COMMERCIAL LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2024
DIRECTORS Matthew Alexander Cooper
Sarah Jane Shackleton
REGISTERED OFFICE Hull Road
Dunnington
York
YO19 5LP
United Kingdom
COMPANY NUMBER 12341271 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
YORK CAR AND COMMERCIAL LTD

BALANCE SHEET

As at 30 November 2024
YORK CAR AND COMMERCIAL LTD

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 173,225 173,655
173,225 173,655
Current assets
Stocks 4 472,828 493,639
Debtors 5 49,597 52,047
Cash at bank and in hand 6 73,845 3,234
596,270 548,920
Creditors: amounts falling due within one year 7 ( 552,976) ( 342,074)
Net current assets 43,294 206,846
Total assets less current liabilities 216,519 380,501
Creditors: amounts falling due after more than one year 8 ( 58,167) ( 80,539)
Net assets 158,352 299,962
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 158,252 299,862
Total shareholders' funds 158,352 299,962

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of York Car and Commercial Ltd (registered number: 12341271) were approved and authorised for issue by the Board of Directors on 07 March 2025. They were signed on its behalf by:

Matthew Alexander Cooper
Director
YORK CAR AND COMMERCIAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
YORK CAR AND COMMERCIAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

York Car and Commercial Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hull Road, Dunnington, York, YO19 5LP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 5 years straight line
Office equipment 20 % reducing balance
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 2

3. Tangible assets

Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 December 2023 1,400 171,736 1,612 1,019 175,767
At 30 November 2024 1,400 171,736 1,612 1,019 175,767
Accumulated depreciation
At 01 December 2023 683 0 586 843 2,112
Charge for the financial year 144 0 205 81 430
At 30 November 2024 827 0 791 924 2,542
Net book value
At 30 November 2024 573 171,736 821 95 173,225
At 30 November 2023 717 171,736 1,026 176 173,655

4. Stocks

2024 2023
£ £
Stocks 472,828 493,639

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Debtors

2024 2023
£ £
Trade debtors 29,972 50,173
Corporation tax 19,302 0
Other debtors 323 1,874
49,597 52,047

8. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 73,845 3,234

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 12,372 13,550
Trade creditors 111,787 59,086
Amounts owed to Group undertakings 1,552 0
Taxation and social security 21,416 31,269
Obligations under finance leases and hire purchase contracts 2,016 2,016
Other creditors 403,833 236,153
552,976 342,074

10. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 25,727 38,099
Other creditors 32,440 42,440
58,167 80,539

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100