Specialist Cars (Manchester) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 12071189 (England and Wales)

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPECIALIST CARS (MANCHESTER) LTD

Page

Company Information

1

Report of the Director

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

6

DIRECTOR:

Mr H R Jayasekera

REGISTERED OFFICE:

Britannic House

657 Liverpool Road

Irlam

Manchester

Lancashire

M44 5XD

BUSINESS ADDRESS:

23 Kingsway

Levenshulme

Manchester

Greater Manchester

M19 2BZ

REGISTERED NUMBER:

12071189 (England and Wales)

ACCOUNTANTS:

Cadishead Accountancy Services Limited

Britannic House

657 Liverpool Road

Irlam

Manchester

Lancashire

M44 5XD

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

DIRECTOR

Mr H R Jayasekera held office during the whole of the period from 1 January 2024 to the date of this report.

His beneficial interest in the shares of the company, according to the register of directors' interests, was as follows:

31.12.24

1.1.24

Ordinary shares of £1.00 each

1

He did not hold any non-beneficial interests in the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr H R Jayasekera - Director

12 September 2025

FIXED ASSETS

Property, plant and equipment

4

4,045

5,953

CURRENT ASSETS

Inventories

207,335

279,715

Debtors

5

2,549

2,421

Cash at bank

118,162

31,898

328,046

314,034

CREDITORS

Amounts falling due within one year

6

(227,037

)

(235,216

)

NET CURRENT ASSETS

101,009

78,818

TOTAL ASSETS LESS CURRENT
LIABILITIES

105,054

84,771

CREDITORS

Amounts falling due after more than one
year

7

(35,280

)

(37,037

)

PROVISIONS FOR LIABILITIES

(769

)

(1,488

)

NET ASSETS

69,005

46,246

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

69,004

46,245

SHAREHOLDERS' FUNDS

69,005

46,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2025 and were signed by:

Mr H R Jayasekera - Director

1.	STATUTORY INFORMATION

Specialist Cars (Manchester) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

COST

At 1 January 2024

848

239

12,010

13,097

Additions

-

1,407

At 31 December 2024

848

239

13,417

14,504

DEPRECIATION

At 1 January 2024

424

237

6,483

7,144

Charge for year

212

2

3,101

3,315

At 31 December 2024

636

239

9,584

10,459

NET BOOK VALUE

At 31 December 2024

212

-

3,833

4,045

At 31 December 2023

424

2

5,527

5,953

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Other debtors

2,549

2,421

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

5,841

6,603

Trade creditors

2,619

1,123

Taxation and social security

13,476

13,962

Other creditors

205,101

213,528

227,037

235,216

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

35,280

37,037

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr H R Jayasekera.