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CAR AND CLASSIC FINANCIAL SERVICES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
Car and Classic Financial Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 167-169 Great Portland Street, London, W1W 5PF.
The principal activity of the Company is that of insurance agents and brokers.
The Company was incorporated on 4 April 2025 and did not commence trading until after year end.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:
The Company had net liabilities of £1,006 at the period ended and is dependent on continued financial support from its parent undertaking. The parent undertaking has confirmed that it will provide sufficient financial support to enable the Company to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Short-term debtors are measured at the transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company enters into basic financial instrument transactions. Basic financial instruments, including trade debtors, trade creditors, cash and loans to related parties, are accounted for in accordance with FRS 102 Section 11.
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