Company Registration No. 5289287 (England and Wales)
FIRST CLASS CARS (FCC) LTD
Unaudited accounts
for the year ended 31 January 2020
FIRST CLASS CARS (FCC) LTD
Unaudited accounts
Contents
FIRST CLASS CARS (FCC) LTD
Company Information
for the year ended 31 January 2020
Company Number
5289287 (England and Wales)
Registered Office
UNIT 2A BARTON ROAD IND EST
BARTON ROAD
BURY ST EDMUNDS
IP32 7BE
Accountants
P Lacey & Associates Ltd
Office 17
2 Regent House
Lowestoft
NR32 1PA
FIRST CLASS CARS (FCC) LTD
Statement of financial position
as at 31 January 2020
Tangible assets
253,502
254,670
Inventories
504,478
476,221
Cash at bank and in hand
161,639
134,139
Creditors: amounts falling due within one year
(334,036)
(356,293)
Net current assets
336,397
254,067
Total assets less current liabilities
589,899
508,737
Creditors: amounts falling due after more than one year
(153,424)
(166,224)
Net assets
436,475
342,513
Called up share capital
1
1
Profit and loss account
436,474
342,512
Shareholders' funds
436,475
342,513
For the year ending 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 October 2020 and were signed on its behalf by
Mr Darren Gundry
Director
Company Registration No. 5289287
FIRST CLASS CARS (FCC) LTD
Notes to the Accounts
for the year ended 31 January 2020
FIRST CLASS CARS (FCC) LTD is a private company, limited by shares, registered in England and Wales, registration number 5289287. The registered office is UNIT 2A BARTON ROAD IND EST, BARTON ROAD, BURY ST EDMUNDS, IP32 7BE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing balance
FIRST CLASS CARS (FCC) LTD
Notes to the Accounts
for the year ended 31 January 2020
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 February 2019
250,000
24,784
274,784
At 31 January 2020
250,000
24,784
274,784
At 1 February 2019
-
20,114
20,114
Charge for the year
-
1,168
1,168
At 31 January 2020
-
21,282
21,282
At 31 January 2020
250,000
3,502
253,502
At 31 January 2019
250,000
4,670
254,670
Raw materials
504,478
476,221
7
Creditors: amounts falling due within one year
2020
2019
Obligations under finance leases and hire purchase contracts
18,349
-
Taxes and social security
29,468
40,331
Other creditors
28,781
33,714
Loans from directors
256,329
258,512
8
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
153,424
166,224
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
FIRST CLASS CARS (FCC) LTD
Notes to the Accounts
for the year ended 31 January 2020
10
Average number of employees
During the year the average number of employees was 3 (2019: 3).