Formby Village Radio Cars Limited

Registered number

05698335

Unaudited Filleted Accounts

31 March 2025

Formby Village Radio Cars Limited
Registered number:		05698335
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		210,901			298,997

Current assets
Debtors	5	400,110			401,321
Cash at bank and in hand		3,963			8,837
		404,073			410,158

Creditors: amounts falling due within one year	6	(202,124)			(151,753)

Net current assets			201,949			258,405

Net assets			412,850			557,402

Capital and reserves
Called up share capital			300			300
Profit and loss account			412,550			557,102

Shareholder's funds			412,850			557,402

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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.




J Sholicar
Director
Approved by the board on 29 August 2025

Formby Village Radio Cars Limited
Notes to the Accounts
for the year ended 31 March 2025


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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:

	Plant and machinery	20% reducing balance
	Motor vehicles	25% 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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			8		7


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 April 2024					10,000
	At 31 March 2025					10,000

	Amortisation
	At 1 April 2024					10,000
	At 31 March 2025					10,000

	Net book value
	At 31 March 2025					-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 April 2024	1,879		794,885		796,764
	Additions	-		42,864		42,864
	Disposals	-		(154,300)		(154,300)
	At 31 March 2025	1,879		683,449		685,328

	Depreciation
	At 1 April 2024	1,404		496,363		497,767
	Charge for the year	152		63,493		63,645
	On disposals	-		(86,985)		(86,985)
	At 31 March 2025	1,556		472,871		474,427

	Net book value
	At 31 March 2025	323		210,578		210,901
	At 31 March 2024	475		298,522		298,997


5	Debtors			2025		2024
£					£

	Trade debtors			400,110		401,321


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			-		-
	Taxation and social security costs			111,869		76,289
	Other creditors			90,255		75,464
				202,124		151,753


7	Related party transactions

	At 31 March 2025, the company owes £34,555 (2024 - £63,000) to Formby Holdings Ltd. Both companies being under the control of the director Mr J Sholicar.


8	Other information

	Formby Village Radio Cars Limited is a private company limited by shares and incorporated in England. Its registered office is:
	300 St. Marys Road
	Garston
	Liverpool
	Merseyside
	L19 0NQ