Company Registration No. 9487310 (England and Wales)
EXECUTIVE CARS STEVENAGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
EXECUTIVE CARS STEVENAGE LIMITED
COMPANY INFORMATION
Director
M Francis
Company number
9487310
Registered office
2 Elder Close
Beeston
Sandy
SG19 1GF
EXECUTIVE CARS STEVENAGE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
EXECUTIVE CARS STEVENAGE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
2
21,147
201
Current assets
Debtors
3
10,477
7,556
Cash at bank and in hand
7,842
16,952
18,319
24,508
Creditors: amounts falling due within one year
4
(33,977)
(22,801)
Net current (liabilities)/assets
(15,658)
1,707
Total assets less current liabilities
5,489
1,908
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
5,488
1,907
Total equity
5,489
1,908
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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 his 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.
The financial statements were approved and signed by the director and authorised for issue on 6 December 2023
M Francis
Director
Company Registration No. 9487310
EXECUTIVE CARS STEVENAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
Executive Cars Stevenage Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Elder Close, Beeston, Sandy, SG19 1GF.
1.1
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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
EXECUTIVE CARS STEVENAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
849
Additions
27,995
At 31 March 2023
28,844
Depreciation and impairment
At 1 April 2022
648
Depreciation charged in the year
7,049
At 31 March 2023
7,697
Carrying amount
At 31 March 2023
21,147
At 31 March 2022
201
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
10,477
7,556
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,763
5,831
Trade creditors
498
119
Corporation tax
912
Other taxation and social security
2,087
4,326
Other creditors
29,629
11,613
33,977
22,801
5
Called up share capital
2023
2022
£
£
Ordinary share capital
Authorised
100 Ordinary of £1 each
100
100
Issued and fully paid
1 Ordinary of £1 each
1
1