Company registration number 07445627 (England and Wales)
TRADE RIGHT CARS (CARDIFF) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
TRADE RIGHT CARS (CARDIFF) LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
TRADE RIGHT CARS (CARDIFF) LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 1 -

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

TRADE RIGHT CARS (CARDIFF) LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 2 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,778
3,704
Current assets
Stocks
5
30,571
52,091
Debtors
6
31,149
30,215
61,720
82,306
Creditors: amounts falling due within one year
7
(55,475)
(70,401)
Net current assets
6,245
11,905
Total assets less current liabilities
9,023
15,609
Creditors: amounts falling due after more than one year
8
(2,497)
(12,500)
Provisions for liabilities
(695)
(704)
Net assets
5,831
2,405
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
5,731
2,305
Total equity
5,831
2,405
TRADE RIGHT CARS (CARDIFF) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2025
28 February 2025
- 3 -

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 23 May 2025
Mr Nigel Jordan
Director
Company registration number 07445627 (England and Wales)
TRADE RIGHT CARS (CARDIFF) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
1
Accounting policies
Company information

Trade Right Cars (Cardiff) Limited is a private company limited by shares incorporated in England and Wales.

1.1
Accounting convention

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 a mounts in these financial statements are rounded.

1.2
Turnover

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. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Tangible fixed assets

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:

Fixtures and fittings
25% Reducing Balance
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

TRADE RIGHT CARS (CARDIFF) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

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

Current 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

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.

1.6
Retirement benefits

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

1.7
Leases
As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

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

2025
2024
Number
Number
Total
1
1
TRADE RIGHT CARS (CARDIFF) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
3
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
10,886
7,210
Deferred tax
Origination and reversal of timing differences
(9)
(235)
Total tax charge
10,877
6,975

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
54,303
37,376
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 19.00%)
13,576
7,101
Deferred tax adjustments in respect of prior years
(9)
-
0
Goodwill/depreciation not allowed for tax
232
235
Marginal Relief
(2,922)
-
0
Expenses not deductible for tax purposes
-
0
(361)
Taxation charge for the year
10,877
6,975
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 March 2024 and 28 February 2025
12,121
Depreciation and impairment
At 1 March 2024
8,417
Depreciation charged in the year
926
At 28 February 2025
9,343
Carrying amount
At 28 February 2025
2,778
At 29 February 2024
3,704
TRADE RIGHT CARS (CARDIFF) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 7 -
5
Stocks
2025
2024
£
£
Stocks
30,571
52,091
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
21,801
17,101
Other debtors
5,743
12,602
Prepayments and accrued income
3,605
512
31,149
30,215
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
28,177
28,396
Trade creditors
7,405
18,818
Corporation tax
10,755
7,210
Other taxation and social security
9,138
9,629
Other creditors
-
0
6,348
55,475
70,401
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,497
12,500
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
TRADE RIGHT CARS (CARDIFF) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 8 -
11
Directors' transactions

Dividends totalling £20,400 (2024 - £31,620) were paid in the year in respect of shares held by the company's directors.

The loan was repaid within 9 months and 1 day of the balance sheet date.

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director Loan
-
841
162,261
(161,107)
1,995
841
162,261
(161,107)
1,995
12
Ultimate Controlling Party

The company's ultimate controlling party is Mr Nigel Jordan by virtue of his ownership of 51% of the issued share capital in the company.

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