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Company Registration No. 08259875 (England and Wales)
The Car Megastore Limited Unaudited accounts for the period from 31 March 2024 to 31 March 2025
The Car Megastore Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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The Car Megastore Limited Company Information for the period from 31 March 2024 to 31 March 2025
Director
Mr M A K M Yafai
Company Number
08259875 (England and Wales)
Registered Office
The Car Megastore 33 Penistone Road North Sheffield South Yorkshire S6 1LP England
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The Car Megastore Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
2,547
3,353
Current assets
Inventories
113,160
325,511
Debtors
5
28,581
54,850
Cash at bank and in hand
131,214
70,075
272,955
450,436
Creditors: amounts falling due within one year
6
(61,993)
(89,705)
Net current assets
210,962
360,731
Total assets less current liabilities
213,509
364,084
Creditors: amounts falling due after more than one year
7
(506,000)
(530,000)
Provisions for liabilities
Deferred tax
(636)
(838)
Net liabilities
(293,127)
(166,754)
Capital and reserves
Called up share capital
100
100
Profit and loss account
(293,227)
(166,854)
Shareholders' funds
(293,127)
(166,754)
For the period 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 31 March 2026 and were signed on its behalf by
Mr M A K M Yafai Director Company Registration No. 08259875
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The Car Megastore Limited Notes to the Accounts for the period from 31 March 2024 to 31 March 2025
1
Statutory information
The Car Megastore Limited is a private company, limited by shares, registered in England and Wales, registration number 08259875. The registered office is The Car Megastore, 33 Penistone Road North, Sheffield, South Yorkshire, S6 1LP, 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 period, 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Plant & machinery
15% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
33% on reducing balance
Other tangible fixed assets
20% on reducing balance
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Presentation currency
The accounts are presented in £ sterling.
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The Car Megastore Limited Notes to the Accounts for the period from 31 March 2024 to 31 March 2025
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 31 March 2024
9,890
47,701
7,719
65,310
At 31 March 2025
9,890
47,701
7,719
65,310
Depreciation
At 31 March 2024
9,182
46,621
6,154
61,957
Charge for the period
106
184
516
806
At 31 March 2025
9,288
46,805
6,670
62,763
Net book value
At 31 March 2025
602
896
1,049
2,547
At 30 March 2024
708
1,080
1,565
3,353
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
(1,901)
17,300
Accrued income and prepayments
10,412
10,520
Other debtors
20,070
27,030
28,581
54,850
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
24,000
24,000
VAT
14,134
13,604
Trade creditors
13,838
20,503
Taxes and social security
725
2,322
Other creditors
6,296
25,926
Accruals
3,000
3,350
61,993
89,705
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
6,000
30,000
Other creditors
500,000
500,000
506,000
530,000
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The Car Megastore Limited Notes to the Accounts for the period from 31 March 2024 to 31 March 2025
8
Transactions with related parties
During the year the company operated loan accounts with Properties to Let Limited a company owned and controlled by Mr M A K M Yafai. At the balance sheet date Properties to Let Limited was owed £506,300 by the company (2023: £516,300) which is included in other creditors. During the year Properties to Let Limited charged the company rent amounting to £95,000 (2023: £140,833).
9
Average number of employees
During the period the average number of employees was 6 (2024: 6).
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