REGISTERED NUMBER: 07956054 (England and Wales)

Club/Radio Cars (Manchester) Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Costas Anthony Georgiou

SECRETARY:

Ms Patricia Georgiou

REGISTERED OFFICE:

31 Sackville Street

Manchester

England

M1 3LZ

REGISTERED NUMBER:

07956054 (England and Wales)

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

338,882

348,940

338,882

348,940

CURRENT ASSETS

Debtors

7

1,326,700

1,067,493

Prepayments and accrued income

6,076

6,076

Cash at bank and in hand

641,742

545,444

1,974,518

1,619,013

CREDITORS

Amounts falling due within one year

8

(1,586,668

)

(1,234,363

)

NET CURRENT ASSETS

387,850

384,650

TOTAL ASSETS LESS CURRENT LIABILITIES

726,732

733,590

CREDITORS

Amounts falling due after more than one year

9

(131,423

)

(156,192

)

NET ASSETS

595,309

577,398

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

595,209

577,298

SHAREHOLDERS' FUNDS

595,309

577,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2025 and were signed by:

Mr Costas Anthony Georgiou - Director

1.	GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:

31 Sackville Street

Manchester

M1 3LZ

England

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3.	ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

BASIS OF PREPARATION

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

REVENUE RECOGNITION

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

TAX

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

TANGIBLE ASSETS

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

DEPRECIATION

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Property

10% straight line method

Fixtures and fittings

15% reducing balance method

Motor vehicles

30% straight line method

Equipment

20% reducing balance method

GOODWILL

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

AMORTISATION

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 3 years straight line method

CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

LEASES

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

SHARE CAPITAL

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

DEFINED CONTRIBUTION PENSION OBLIGATION

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 36 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2023

and 30 September 2024

362,781

AMORTISATION

At 1 October 2023

and 30 September 2024

362,781

NET BOOK VALUE

At 30 September 2024

-

At 30 September 2023

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2023

185,000

151,261

1,365,862

557,963

2,260,086

Additions

-

13,409

31,892

-

45,301

Disposals

-

-

(67,501

)

(1,840

)

(69,341

)

At 30 September 2024

185,000

164,670

1,330,253

556,123

2,236,046

DEPRECIATION

At 1 October 2023

-

95,679

1,314,631

500,836

1,911,146

Charge for year

-

10,349

32,113

11,057

53,519

Eliminated on disposal

-

-

(67,501

)

-

(67,501

)

At 30 September 2024

-

106,028

1,279,243

511,893

1,897,164

NET BOOK VALUE

At 30 September 2024

185,000

58,642

51,010

44,230

338,882

At 30 September 2023

185,000

55,582

51,231

57,127

348,940

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,326,700

1,085,993

Other debtors

-

(18,500

)

1,326,700

1,067,493

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

29,167

39,134

Trade creditors

1,490,790

1,124,244

Taxation and social security

18,546

38,181

Other creditors

48,165

32,804

1,586,668

1,234,363

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

-

20,354

Trade creditors

41,778

58,692

Taxation and social security

71,145

77,146

Other creditors

18,500

-

131,423

156,192

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary share

1

100

100

11.	RELATED PARTY TRANSACTIONS

Summary of transactions with all associates

During the year there were inter-company transactions with related group companies. At the year end the inter-company balance stood as follows : Wythenshawe Private Hire Ltd. ( holding company ) £495,690 Dr. (2023 £435,690 Dr. ) ;Parkshield Ltd. £83,743 Dr. ( 2023 £63,743 Dr. ) ; CP Property & Developments Ltd. £71,637 Dr. ( 2023 £71,638 Dr. ) ; Georgiou Properties Ltd. £242,246 Dr. ( 2023 £242,246 Dr. ) Wythenshawe MOT Centre Ltd. £18,587 Cr. ( 2023 £18,127 Cr. ) ; Club Cloud Data Services Ltd. £1,490,790 Cr. ( 2023 £1,124,243 Cr. ) ; Berry & Buckley (Motors) Ltd. £1,566 Cr. ( 2023 £1,566 Cr. ).

The Directors Loan Account at the year end stood at £42,401 Cr. ( 2023 £6,731 Cr. ).

12.	PARENT AND ULTIMATE PARENT UNDERTAKING

The company's immediate parent is Wythenshawe Private Hire Limited, incorporated in England.