Turbocentre Car Sales Ltd - Accounts to registrar (filleted) - small 18.2
Turbocentre Car Sales Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
| FOR |
| TURBOCENTRE CAR SALES LTD |
| TURBOCENTRE CAR SALES LTD (REGISTERED NUMBER: 03050148) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| TURBOCENTRE CAR SALES LTD |
| COMPANY INFORMATION |
| for the Year Ended 30 September 2021 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| First Floor |
| 677 High Road |
| North Finchley |
| London |
| N12 0DA |
| BANKERS: |
| 2-4 Aldermans Hill |
| Palmers Green |
| London |
| N13 4PH |
| TURBOCENTRE CAR SALES LTD (REGISTERED NUMBER: 03050148) |
| BALANCE SHEET |
| 30 September 2021 |
| 30.9.21 | 30.9.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 and authorised for issue on |
| TURBOCENTRE CAR SALES LTD (REGISTERED NUMBER: 03050148) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2021 |
| 1. | STATUTORY INFORMATION |
| Turbocentre Car Sales Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Stocks |
| Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost represents the original purchase price of the vehicles. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Deferred tax |
| Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. |
| Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| TURBOCENTRE CAR SALES LTD (REGISTERED NUMBER: 03050148) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2021 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2020 |
| and 30 September 2021 |
| DEPRECIATION |
| At 1 October 2020 |
| Charge for year |
| At 30 September 2021 |
| NET BOOK VALUE |
| At 30 September 2021 |
| At 30 September 2020 |
| 5. | STOCKS |
| 30.9.21 | 30.9.20 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.21 | 30.9.20 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.21 | 30.9.20 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | PROVISIONS FOR LIABILITIES |
| 30.9.21 | 30.9.20 |
| £ | £ |
| Deferred tax | 2,052 | 2,464 |
| TURBOCENTRE CAR SALES LTD (REGISTERED NUMBER: 03050148) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2021 |
| 8. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2020 |
| Provided during year | ( |
) |
| Balance at 30 September 2021 |
| 9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 September 2021 and 30 September 2020: |
| 30.9.21 | 30.9.20 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |