Historic Ferrari Limited - Accounts to registrar (filleted) - small 18.2

Historic Ferrari Limited - Accounts to registrar (filleted) - small 18.2


IRIS Accounts Production v19.1.0.729 06653229 director 1.8.17 31.7.18 31.7.18 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure066532292017-07-31066532292018-07-31066532292017-08-012018-07-31066532292016-07-31066532292016-08-012017-07-31066532292017-07-3106653229ns15:EnglandWales2017-08-012018-07-3106653229ns14:PoundSterling2017-08-012018-07-3106653229ns10:Director12017-08-012018-07-3106653229ns10:PrivateLimitedCompanyLtd2017-08-012018-07-3106653229ns10:SmallEntities2017-08-012018-07-3106653229ns10:AuditExempt-NoAccountantsReport2017-08-012018-07-3106653229ns10:SmallCompaniesRegimeForDirectorsReport2017-08-012018-07-3106653229ns10:SmallCompaniesRegimeForAccounts2017-08-012018-07-3106653229ns10:FullAccounts2017-08-012018-07-3106653229ns10:RegisteredOffice2017-08-012018-07-3106653229ns5:CurrentFinancialInstruments2018-07-3106653229ns5:CurrentFinancialInstruments2017-07-3106653229ns5:Non-currentFinancialInstruments2018-07-3106653229ns5:Non-currentFinancialInstruments2017-07-3106653229ns5:ShareCapital2018-07-3106653229ns5:ShareCapital2017-07-3106653229ns5:RetainedEarningsAccumulatedLosses2018-07-3106653229ns5:RetainedEarningsAccumulatedLosses2017-07-3106653229ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-07-3106653229ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-07-31


REGISTERED NUMBER: 06653229 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018

FOR

HISTORIC FERRARI LIMITED

HISTORIC FERRARI LIMITED (REGISTERED NUMBER: 06653229)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HISTORIC FERRARI LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2018







DIRECTOR: H J Pearman





REGISTERED OFFICE: 150 High Street
Sevenoaks
Kent
TN13 1XE





REGISTERED NUMBER: 06653229 (England and Wales)





ACCOUNTANTS: Greenaway Chartered Accountants
150 High Street
Sevenoaks
Kent
TN13 1XE

HISTORIC FERRARI LIMITED (REGISTERED NUMBER: 06653229)

BALANCE SHEET
31 JULY 2018

31/7/18 31/7/17
Notes £    £   
CURRENT ASSETS
Stocks 3,063,307 4,030,000
Debtors 4 1,534,941 1,675,002
Cash at bank 719 237,756
4,598,967 5,942,758
CREDITORS
Amounts falling due within one year 5 1,103,132 1,050,962
NET CURRENT ASSETS 3,495,835 4,891,796
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,495,835

4,891,796

CREDITORS
Amounts falling due after more than one
year

6

-

1,650,000
NET ASSETS 3,495,835 3,241,796

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,495,833 3,241,794
SHAREHOLDERS' FUNDS 3,495,835 3,241,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 8 April 2019 and were signed by:




H J Pearman - Director


HISTORIC FERRARI LIMITED (REGISTERED NUMBER: 06653229)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018

1. STATUTORY INFORMATION

Historic Ferrari Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information
page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due
allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/18 31/7/17
£    £   
Trade debtors 1,073,000 1,073,000
Other debtors 461,941 602,002
1,534,941 1,675,002

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/18 31/7/17
£    £   
Trade creditors 1,017,543 860,000
Taxation and social security 59,589 94,962
Other creditors 26,000 96,000
1,103,132 1,050,962

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/7/18 31/7/17
£    £   
Hire purchase contracts - 1,650,000

7. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and prior year by H J Pearman the sole director
and shareholder.