Clarendon Park Accident & Repair Centre - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06001742 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2020

FOR

CLARENDON PARK ACCIDENT AND REPAIR

CENTRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M Wright

REGISTERED OFFICE:

Unit 4A

Oakland Road

Leicester

Leicestershire

LE2 6AN

REGISTERED NUMBER:

06001742 (England and Wales)

FIXED ASSETS

Tangible assets

4

7,138

8,732

CURRENT ASSETS

Stocks

3,940

5,380

Debtors

5

6,581

12,016

Cash at bank

16,780

6,690

27,301

24,086

CREDITORS

Amounts falling due within one year

6

27,964

21,281

NET CURRENT (LIABILITIES)/ASSETS

(663

)

2,805

TOTAL ASSETS LESS CURRENT LIABILITIES

6,475

11,537

CREDITORS

Amounts falling due after more than one year

7

(1,604

)

(3,354

)

PROVISIONS FOR LIABILITIES

(1,215

)

(1,509

)

NET ASSETS

3,656

6,674

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

3,655

6,673

SHAREHOLDERS' FUNDS

3,656

6,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 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 June 2021 and were signed by:

Mr M Wright - Director

1.	STATUTORY INFORMATION

Clarendon Park Accident And Repair Centre 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company provides services to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on the completion of a service.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 December 2019

8,900

22,150

370

31,420

Additions

583

-

-

583

At 30 November 2020

9,483

22,150

370

32,003

DEPRECIATION

At 1 December 2019

5,193

17,372

123

22,688

Charge for year

858

1,195

124

2,177

At 30 November 2020

6,051

18,567

247

24,865

NET BOOK VALUE

At 30 November 2020

3,432

3,583

123

7,138

At 30 November 2019

3,707

4,778

247

8,732

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

6,581

12,016

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

-

1,785

Hire purchase contracts

1,990

3,188

Trade creditors

2,799

7,163

Taxation

3,066

1,616

Paye/Ni payable

1,448

751

Vat liability

8,060

4,264

Other creditors

47

83

Directors' current accounts

7,424

726

Accruals and deferred income

3,130

1,705

27,964

21,281

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

1,604

3,354

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank overdraft

-

1,785

Hire purchase contracts

3,594

6,542

3,594

8,327

Amounts owing under hire purchase contracts are secured on the assets concerned.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1

Ordinary

£1

1

1