Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 11053751 Mr Kamran Hussain iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11053751 2023-12-31 11053751 2024-12-31 11053751 2024-01-01 2024-12-31 11053751 frs-core:CurrentFinancialInstruments 2024-12-31 11053751 frs-core:Non-currentFinancialInstruments 2024-12-31 11053751 frs-core:BetweenOneFiveYears 2024-12-31 11053751 frs-core:FurnitureFittings 2024-12-31 11053751 frs-core:FurnitureFittings 2024-01-01 2024-12-31 11053751 frs-core:FurnitureFittings 2023-12-31 11053751 frs-core:MotorVehicles 2024-12-31 11053751 frs-core:MotorVehicles 2024-01-01 2024-12-31 11053751 frs-core:MotorVehicles 2023-12-31 11053751 frs-core:ShareCapital 2024-12-31 11053751 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 11053751 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11053751 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 11053751 frs-bus:SmallEntities 2024-01-01 2024-12-31 11053751 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11053751 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11053751 frs-bus:Director1 2024-01-01 2024-12-31 11053751 frs-countries:EnglandWales 2024-01-01 2024-12-31 11053751 2022-12-31 11053751 2023-12-31 11053751 2023-01-01 2023-12-31 11053751 frs-core:CurrentFinancialInstruments 2023-12-31 11053751 frs-core:Non-currentFinancialInstruments 2023-12-31 11053751 frs-core:BetweenOneFiveYears 2023-12-31 11053751 frs-core:ShareCapital 2023-12-31 11053751 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 11053751
Hastings Cars Nw Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
A Patel & Co Accountants
Licensed by AAT - Reg. No. 1199
341 Derby Street
Bolton
BL3 6LR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11053751
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 188,525 106,018
188,525 106,018
CURRENT ASSETS
Debtors 5 276,202 112,177
Cash at bank and in hand 91,720 57,008
367,922 169,185
Creditors: Amounts Falling Due Within One Year 6 (147,836 ) (70,222 )
NET CURRENT ASSETS (LIABILITIES) 220,086 98,963
TOTAL ASSETS LESS CURRENT LIABILITIES 408,611 204,981
Creditors: Amounts Falling Due After More Than One Year 7 (97,984 ) (24,950 )
NET ASSETS 310,627 180,031
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 310,527 179,931
SHAREHOLDERS' FUNDS 310,627 180,031
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kamran Hussain
Director
29/09/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hastings Cars Nw Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11053751 . The registered office is Middle Brook Mill First Floor, Gilnow Lane, Bolton, BL3 5EN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25%
Fixtures & Fittings 15%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Taxation
Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 9)
11 9
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 131,677 9,076 140,753
Additions 137,000 6,549 143,549
As at 31 December 2024 268,677 15,625 284,302
Depreciation
As at 1 January 2024 32,912 1,823 34,735
Provided during the period 58,941 2,101 61,042
As at 31 December 2024 91,853 3,924 95,777
Net Book Value
As at 31 December 2024 176,824 11,701 188,525
As at 1 January 2024 98,765 7,253 106,018
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 77,406 72,832
Prepayments and accrued income 3,650 6,305
81,056 79,137
Due after more than one year
Other debtors 195,146 33,040
276,202 112,177
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 31,800 8,354
Corporation tax 22,622 18,827
Other taxes and social security 3,602 121
VAT 79,784 38,381
Accruals and deferred income 1,984 1,212
Director's loan account 8,044 3,327
147,836 70,222
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 83,125 -
Bank loans 14,859 24,950
97,984 24,950
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 83,125 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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