Company registration number:
02896079
Warwick Car Care Centre Limited
Unaudited filleted financial statements
31 March 2025
Warwick Car Care Centre Limited
Contents
Statement of financial position
Notes to the financial statements
Warwick Car Care Centre Limited
Statement of financial position
31 March 2025
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2025 |
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2024 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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4 |
119,211 |
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121,261 |
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_______ |
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_______ |
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119,211 |
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121,261 |
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Current assets |
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Stocks |
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17,200 |
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16,400 |
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Debtors |
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5 |
10,473 |
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10,710 |
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Cash at bank and in hand |
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192,729 |
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202,059 |
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_______ |
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_______ |
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220,402 |
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229,169 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
164,638) |
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(
174,643) |
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_______ |
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_______ |
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Net current assets |
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55,764 |
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54,526 |
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_______ |
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_______ |
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Total assets less current liabilities |
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174,975 |
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175,787 |
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Provisions for liabilities |
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7 |
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(
20,247) |
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(
19,925) |
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_______ |
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_______ |
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Net assets |
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154,728 |
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155,862 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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1,000 |
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1,000 |
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Profit and loss account |
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153,728 |
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154,862 |
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_______ |
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_______ |
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Shareholders funds |
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154,728 |
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155,862 |
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_______ |
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_______ |
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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.
Director's responsibilities:
-
The 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 their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
09 December 2025
, and are signed on behalf of the board by:
Mr D. Critchley
Director
Company registration number:
02896079
Warwick Car Care Centre Limited
Notes to the financial statements
Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 129-131 Warwick Road, New Southgate, London, N11 2SR.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25
%
reducing balance
Fittings fixtures and equipment
-
25
%
reducing balance
Motor vehicles
-
25
%
reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
6.
Creditors: amounts falling due within one year
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2025 |
2024 |
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|
£ |
£ |
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Bank loans and overdrafts |
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8,668 |
19,097 |
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Trade creditors |
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13,825 |
12,772 |
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Accruals and deferred income |
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1,370 |
1,140 |
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Corporation tax |
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7,527 |
8,021 |
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Social security and other taxes |
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6,599 |
6,963 |
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Director loan accounts |
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126,649 |
126,650 |
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_______ |
_______ |
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164,638 |
174,643 |
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_______ |
_______ |
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7.
Provisions
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Deferred tax |
Total |
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£ |
£ |
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At 1 April 2024 |
19,925 |
19,925 |
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Additions |
322 |
322 |
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_______ |
_______ |
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At 31 March 2025 |
20,247 |
20,247 |
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_______ |
_______ |
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