My First Car Limited - Filleted accounts

Registered number

05171629

My First Car Limited

Filleted Accounts

30 June 2025

My First Car Limited
Registered number:		05171629
Balance Sheet
as at 30 June 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		17,406			23,352

Current assets
Stocks		112,971			151,215
Debtors	5	-			(8,469)
Cash at bank and in hand		105,213			151,631
		218,184			294,377

Creditors: amounts falling due within one year	6	(19,223)			(26,596)

Net current assets			198,961			267,781

Total assets less current liabilities			216,367			291,133

Creditors: amounts falling due after more than one year	7		-			(9,842)



Net assets			216,367			281,291

Capital and reserves
Called up share capital			2			2
Profit and loss account			216,365			281,289

Shareholder's funds			216,367			281,291

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr S T Tustain
Director
Approved by the board on 10 November 2025

My First Car Limited
Notes to the Accounts
for the year ended 30 June 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings - Garden Office			over 10 years
	Plant and machinery			over 3 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					1		1


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 July 2024							10,000
	At 30 June 2025							10,000

	Amortisation
	At 1 July 2024							10,000
	At 30 June 2025							10,000

	Net book value
	At 30 June 2025							-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
				Land and buildings		Plant and machinery etc		Total
£					£		£
	Cost
	At 1 July 2024			21,542		59,019		80,561
	Additions			-		2,756		2,756
	At 30 June 2025			21,542		61,775		83,317

	Depreciation
	At 1 July 2024			15,079		42,130		57,209
	Charge for the year			2,154		6,548		8,702
	At 30 June 2025			17,233		48,678		65,911

	Net book value
	At 30 June 2025			4,309		13,097		17,406
	At 30 June 2024			6,463		16,889		23,352


5	Debtors					2025		2024
£							£

	Trade debtors					-		(8,469)


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					4,085		3,597
	Taxation and social security costs					4,881		3,318
	Other creditors					10,257		19,681
						19,223		26,596


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					-		9,842


8	Related party transactions

	During the year, the company made a repayment amounting to £22,437 on a loan to a member of key management personnel. The loan is interest free and repayable on demand. At the balance sheet date, the total loan amounting to £9,333 was still outstanding and is presented within creditors: amounts falling due within one year.

	Loan from director	B/fwd	Repaid		Advanced		C/fwd
9	£		£		£		£
	Mr S T Tustain	18,781		(22,437)		12,989		9,333


10	Other information

	My First Car Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Old Oak Barn
	Clattercut Lane
	Rushock
	Worcestershire
	WR9 0NN