Forge Car Sales Limited,Ltd - AccountsLtd - Accounts

Forge Car Sales Limited,Ltd - AccountsLtd - Accounts

FORGE CAR SALES LIMITED - Company Information

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2019-04-01 06527793 2020-03-31 06527793 2019-04-01 2020-03-31 06527793 2019-03-31 06527793 2018-04-01 2019-03-31 06527793 uk-core:WithinOneYear 2019-03-31 06527793 uk-core:WithinOneYear 2020-03-31 06527793 uk-core:ShareCapital 2020-03-31 06527793 uk-core:ShareCapital 2019-03-31 06527793 uk-core:RetainedEarningsAccumulatedLosses 2020-03-31 06527793 uk-core:RetainedEarningsAccumulatedLosses 2019-03-31 06527793 uk-bus:Director1 2019-04-01 2020-03-31 iso4217:GBP xbrli:pure 06527793 uk-bus:AuditExempt-NoAccountantsReport 2019-04-01 2020-03-31 06527793 uk-bus:FRS102 2019-04-01 2020-03-31 06527793 uk-bus:FullAccounts 2019-04-01 2020-03-31 06527793 uk-bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31
Forge Car Sales Limited
Registered Number:06527793
For the year ended 31 March 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2020
Forge Car Sales Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
06527793
As at 31 March 2020
Forge Car Sales Limited
Statement of Financial Position
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
707
942
2
707
942
Current assets
Inventories
72,132
72,132
3
Trade and other receivables
8,476
18,475
4
17,050
Cash and cash equivalents
5,433
96,040
97,658
Trade and other payables: amounts falling due within one
year
(4,048)
(1,211)
5
93,610
94,829
Net current assets
Total assets less current liabilities
95,536
94,552
95,536
Net assets
94,552
Capital and reserves
Called up share capital
2
2
Retained earnings
95,534
94,550
95,536
94,552
Shareholders' funds
For the year ended 31 March 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 of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
G L Wedlake Director
These financial statements were approved and authorised for issue by the Board on 28 September 2020 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the year ended 31 March 2020
Forge Car Sales Limited
Notes to the Financial Statements
Statutory Information
Forge Car Sales Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 06527793.
Registered address:
53 Greenleaze
Bristol
BS4 2TL
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:Plant&Machinery 25% reducing balance.
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2. Property, plant and equipment
Plant and
machinery
£
Cost or
valuation
At 01 April 2019
3,467
At 31 March 2020
3,467
Provision for depreciation and impairment
At 01 April 2019
2,525
Charge for year
235
At 31 March 2020
2,760
At 31 March 2020
Net book value
707
At 31 March 2019
942
2 of 3
5
For the year ended 31 March 2020
Forge Car Sales Limited
Notes to the Financial Statements Continued
3. Inventories
2019
2020
£
£
Stocks
72,132
72,132
4. Trade and other receivables
2019
2020
£
£
Trade debtors
5,070
5,070
Other debtors
13,405
3,406
8,476
18,475
5. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Taxation and social security
755
4,048
Other creditors
456
-
1,211
4,048
6. Average number of persons employed
During the year the average number of employees was 1 (2019 : 1)
3 of 3