Company Registration No. 03580683 (England and Wales)
Halifax Motor Co. Limited
Unaudited
Financial Statements
for the year ended 31 December 2020
PAGES FOR FILING WITH REGISTRAR
Halifax Motor Co. Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Halifax Motor Co. Limited
Statement Of Financial Position
as at 31 December 2020
- 1 -
2020
2019
Notes
£
£
£
£
Current assets
Debtors
3
18,277
10,649
Cash at bank and in hand
20,020
7,102
38,297
17,751
Creditors: amounts falling due within one year
4
(15,794)
(17,360)
Net current assets
22,503
391
Creditors: amounts falling due after more than one year
5
(22,083)
-
Net assets
420
391
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
418
389
Total equity
420
391
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 March 2021 and are signed on its behalf by:
C L Smith
Director
Company Registration No. 03580683
Halifax Motor Co. Limited
Notes to the financial statements
for the year ended 31 December 2020
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover
represents
the fair value of the consideration received for services provided in the normal course of business
, and
is shown net of VAT
. Turnover is recognised on provision of services.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2019 - 2).
2020
2019
Number
Number
Total
2
2
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
1,577
2,520
Other debtors
15,700
8,129
Prepayments and accrued income
1,000
-
18,277
10,649
Halifax Motor Co. Limited
Notes to the financial statements (continued)
for the year ended 31 December 2020
- 3 -
4
Creditors: amounts falling due within one year
2020
2019
£
£
Other borrowings
2,917
5,266
Corporation tax
6,105
4,824
Other taxation and social security
4,209
4,570
Other creditors
1,363
1,500
Accruals and deferred income
1,200
1,200
15,794
17,360
5
Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
22,083
-
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
7
Company information
Halifax Motor Co. Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Jonathan House, Flathead Green, Sowerby Bridge, HX6 4NX.