1st Stop Cars Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04831780 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

1ST STOP CARS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K J White

REGISTERED OFFICE:

Clarence Street Chambers

32 Clarence Street

Southend-on-Sea

Essex

SS1 1BD

BUSINESS ADDRESS:

68 - 72 West St

Rochford

Essex

SS4 1AS

REGISTERED NUMBER:

04831780 (England and Wales)

ACCOUNTANTS:

A.R. Lee & Co.

Chartered Certified Accountants

Clarence Street Chambers

32 Clarence Street

Southend-on-Sea

Essex

SS1 1BD

FIXED ASSETS

Intangible assets

4

11,191

16,786

Tangible assets

5

18,049

17,320

29,240

34,106

CURRENT ASSETS

Stocks

1,500

2,000

Debtors

6

4,217

4,171

Cash at bank and in hand

214,563

112,374

220,280

118,545

CREDITORS

Amounts falling due within one year

7

78,905

82,976

NET CURRENT ASSETS

141,375

35,569

TOTAL ASSETS LESS CURRENT LIABILITIES

170,615

69,675

CREDITORS

Amounts falling due after more than one year

8

(42,500

)

-

PROVISIONS FOR LIABILITIES

(1,116

)

(776

)

NET ASSETS

126,999

68,899

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

126,899

68,799

SHAREHOLDERS' FUNDS

126,999

68,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 applicable to companies subject to the small companies regime.

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 9 March 2022 and were signed by:

K J White - Director

1.	STATUTORY INFORMATION

1st Stop Cars 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales of services and parts, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

over remaining period of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Government grants

Government grants received as a result of Covid 19 support have been accounted for under the accrual model and are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grants are intended to compensate.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

111,902

AMORTISATION

At 1 January 2021

95,116

Charge for year

5,595

At 31 December 2021

100,711

NET BOOK VALUE

At 31 December 2021

11,191

At 31 December 2020

16,786

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2021

5,000

42,720

12,792

13,800

74,312

Additions

-

3,155

122

4,300

7,577

Disposals

-

-

-

(1,850

)

(1,850

)

At 31 December 2021

5,000

45,875

12,914

16,250

80,039

DEPRECIATION

At 1 January 2021

5,000

35,002

10,055

6,935

56,992

Charge for year

-

2,718

715

2,739

6,172

Eliminated on disposal

-

-

-

(1,174

)

(1,174

)

At 31 December 2021

5,000

37,720

10,770

8,500

61,990

NET BOOK VALUE

At 31 December 2021

-

8,155

2,144

7,750

18,049

At 31 December 2020

-

7,718

2,737

6,865

17,320

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

3,493

3,076

Other debtors

724

1,095

4,217

4,171

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

7,500

-

Trade creditors

23,801

25,495

Taxation and social security

43,182

53,263

Other creditors

4,422

4,218

78,905

82,976

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

42,500

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,500

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

100

Ordinary

£1

100

100