For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

D. C. C. (Cars) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pandon Buildings, Valley Street, Darlington, Durham, United Kingdom, DL1 1PY.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts.

Goodwill, being the amount paid in connection with the acquisition of a businesses in 2002, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 current liabilities.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

The average monthly number of persons (including directors) employed by the company during the year was:

Barclays Bank PLC have fixed and floating charges over property and assets against the overdraft and bank loans, which amounted to £30,340 as at 31 August 2024 (£57,953 as at 31 August 2023).

The Bank loans include a Santander Consumer (UK) plc Stocking Loan and details of their interest in the vehicles covered by the stocking loan are registered with HPI by Santander Consumer (UK) plc. Under the agreement Santander Consumer (UK) plc have the right to take possession of the vehicles concerned in the event of default. The balance of this Stocking Loan was £58,840 on 31 August 2024 (£110,513 as at 31 August 2023).

Other Creditors includes additional Stocking Loans from specialist car dealer finance companies LE Capital UK Limited, NextGear Capital UK Limited and V12 Retail Finance Ltd under agreements where the lenders have the right to take possession of the vehicles concerned in the event of default. The combined balances of these Stocking Loans was £199,597 on 31 August 2024 (£159,850 as at 31 August 2023).

There are three property mortgages with S J Kirk which are secured on the Valley Street premises and the buildings to the west side of Valley Street purchased from S J Kirk. The current portion of the debt at 31 August 2024, included in other creditors, was £34,525.

There are three property mortgages with S J Kirk which are secured on the Valley Street premises and the buildings to the west side of Valley Street purchased from S J Kirk. The combined balances on these loans, including the current portion of £34,525 shown in the current liabilities note, was £285,468 as at 31 August 2024 (£318,600 as at 31 August 2023),

The following advances were made by the directors to the company during the year.

Dividends totalling £0 (2023 - £0) were paid in the year in respect of shares held by the company's directors.