Hunt a Car Limited - Filleted accounts

Hunt a Car Limited - Filleted accounts


Registered number
04433384
Hunt a Car Limited
Filleted Accounts
31 May 2019
Hunt a Car Limited
Registered number: 04433384
Balance Sheet
as at 31 May 2019
Notes 2019 2018
£ £
Fixed assets
Tangible assets 3 3,603 372
Current assets
Stocks 133,810 152,310
Debtors 4 3,838 839
Cash at bank and in hand 52,527 48,046
190,175 201,195
Creditors: amounts falling due within one year 5 (273,472) (270,714)
Net current liabilities (83,297) (69,519)
Net liabilities (79,694) (69,147)
Capital and reserves
Called up share capital 1 1
Profit and loss account (79,695) (69,148)
Shareholder's funds (79,694) (69,147)
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.
C Hunt
Director
Approved by the board on 27 February 2020
Hunt a Car Limited
Notes to the Accounts
for the year ended 31 May 2019
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 represents net invoiced sales of goods, excluding value added tax.
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% straight line
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2019 2018
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2018 3,090 3,463 6,553
Additions 4,015 - 4,015
At 31 May 2019 7,105 3,463 10,568
Depreciation
At 1 June 2018 2,805 3,376 6,181
Charge for the year 697 87 784
At 31 May 2019 3,502 3,463 6,965
Net book value
At 31 May 2019 3,603 - 3,603
At 31 May 2018 285 87 372
4 Debtors 2019 2018
£ £
Trade debtors 2,850 -
Other debtors 988 839
3,838 839
5 Creditors: amounts falling due within one year 2019 2018
£ £
Trade creditors 3,413 -
Taxation and social security costs - 40
Other creditors 270,059 270,674
273,472 270,714
6 Controlling party
During the two years ended 31 May 2019 Mr C Hunt, the company's sole director, controlled the company by virtue of his 100% shareholding of the issued ordinary share capital.
7 Other information
Hunt a Car Limited is a private company limited by shares and incorporated in England. Its registered office is:
Fir Tree House
Bransford
Worcestershire
WR6 5JB
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