Pinetree Car Superstore Limited 28/02/2022 iXBRL
Pinetree Car Superstore Limited 28/02/2022 iXBRL
Company registration number:
04554959
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Directors and other information
Director |
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Secretary |
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Company number |
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Registered office |
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Accountants |
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103 - 104 Walter Road | ||
Swansea | ||
SA1 5QF | ||
Statement of financial position
28 February 2022
2022 | 2021 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Current assets | |||||||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 7 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 April 2022
, and are signed on behalf of the board by:
Director
Company registration number:
04554959
Notes to the financial statements
Year ended 28 February 2022
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Pinetree Car Superstore Ltd, Unit 20 Mardon Park, Baglan Energy Park, Swansea, SA12 7AX.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property | - |
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Fittings fixtures and equipment | - |
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Impairment
Stocks
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
Financial instruments
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
35
(2021:
46
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5.
Tangible assets
Freehold property | Short leasehold property | Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | £ | £ | ||
Cost | ||||||
At 1 March 2021 |
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Additions |
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Disposals | - |
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At 28 February 2022 |
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Depreciation | ||||||
At 1 March 2021 | - |
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- |
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Charge for the year | - |
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Disposals | - |
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At 28 February 2022 | - |
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Carrying amount | ||||||
At 28 February 2022 |
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At 28 February 2021 |
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6.
Debtors
2022 | 2021 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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7.
Creditors: amounts falling due within one year
2022 | 2021 | |||
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Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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8.
Creditors: amounts falling due after more than one year
2022 | 2021 | |||
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Bank loans and overdrafts |
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Other creditors |
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9.
Related party transactions