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Company Registration No. 05489174 (England and Wales)
G P Cars Limited Unaudited accounts for the year ended 31 March 2025
G P Cars Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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G P Cars Limited Company Information for the year ended 31 March 2025
Director
Marco Panico
Secretary
Joanne Panico
Company Number
05489174 (England and Wales)
Registered Office
POUND AVENUE GARAGE POUND AVENUE STEVENAGE SG1 3JB ENGLAND
Accountants
NUMBER CRUNCHING LTD UNIT 5 FEN END STOTFOLD HERTS SG5 4BA
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G P Cars Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
79,702
80,159
Current assets
Inventories
4,000
4,000
Debtors
5
94,826
109,406
Cash at bank and in hand
4,763
-
103,589
113,406
Creditors: amounts falling due within one year
6
(176,563)
(172,682)
Net current liabilities
(72,974)
(59,276)
Total assets less current liabilities
6,728
20,883
Creditors: amounts falling due after more than one year
7
(1,667)
(26,055)
Net assets/(liabilities)
5,061
(5,172)
Capital and reserves
Called up share capital
150
100
Profit and loss account
4,911
(5,272)
Shareholders' funds
5,061
(5,172)
For the year ending 31 March 2025 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 November 2025 and were signed on its behalf by
Marco Panico Director Company Registration No. 05489174
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G P Cars Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
G P Cars Limited is a private company, limited by shares, registered in England and Wales, registration number 05489174. The registered office is POUND AVENUE GARAGE, POUND AVENUE, STEVENAGE, SG1 3JB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Not depreciated
Plant & machinery
straight line over 4 years
Motor vehicles
straight line over 4 years
Computer equipment
straight line over 4 years
Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this period of growth and expansion.
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G P Cars Limited Notes to the Accounts for the year ended 31 March 2025
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
79,246
70,267
15,218
1,227
165,958
At 31 March 2025
79,246
70,267
15,218
1,227
165,958
Depreciation
At 1 April 2024
-
69,354
15,218
1,227
85,799
Charge for the year
-
457
-
-
457
At 31 March 2025
-
69,811
15,218
1,227
86,256
Net book value
At 31 March 2025
79,246
456
-
-
79,702
At 31 March 2024
79,246
913
-
-
80,159
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
79,514
64,664
Accrued income and prepayments
14,980
14,410
Other debtors
332
30,332
94,826
109,406
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
28,027
31,034
VAT
16,099
14,470
Trade creditors
67,266
58,735
Taxes and social security
12,093
9,214
Other creditors
15,911
31,099
Loans from directors
26,807
17,770
Accruals
10,360
10,360
176,563
172,682
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
1,667
26,055
8
Transactions with related parties
At the balance sheet date, the company was owed £332 (2024: was owed £30,332) from G P Cars (Pound Avenue) Limited, a related company. All transactions with G P Cars (Pound Avenue) Limited were undertaken at market value.
9
Average number of employees
During the year the average number of employees was 8 (2024: 9).
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