Valentine's Specialist Cars Ltd

Valentine's Specialist Cars Ltd

VALENTINE'S SPECIALIST CARS LTD - Company Information

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1 January 2020 false No description of principal activity Taxfiler 2021.10 11104502business:PrivateLimitedCompanyLtd2020-01-012020-12-31 111045022019-12-31 111045022020-01-012020-12-31 11104502business:AuditExempt-NoAccountantsReport2020-01-012020-12-31 11104502business:FullAccounts2020-01-012020-12-31 111045022020-12-31 11104502business:Director12020-01-012020-12-31 11104502business:RegisteredOffice2020-01-012020-12-31 111045022019-12-31 11104502core:WithinOneYear2020-12-31 11104502core:WithinOneYear2019-12-31 11104502core:AfterOneYear2020-12-31 11104502core:AfterOneYear2019-12-31 11104502core:ShareCapital2020-12-31 11104502core:ShareCapital2019-12-31 11104502core:RetainedEarningsAccumulatedLosses2020-12-31 11104502core:RetainedEarningsAccumulatedLosses2019-12-31 11104502business:SmallEntities2020-01-012020-12-31 11104502countries:EnglandWales2020-01-012020-12-31 11104502core:LandBuildings2020-01-012020-12-31 11104502core:PlantMachinery2020-01-012020-12-31 11104502core:LandBuildings2019-12-31 11104502core:PlantMachinery2019-12-31 11104502core:LandBuildings2020-12-31 11104502core:PlantMachinery2020-12-31 111045022019-01-012019-12-31 iso4217:GBP xbrli:pure
Company Registration No. 11104502 (England and Wales)
Valentine's Specialist Cars Ltd Unaudited accounts for the year ended 31 December 2020
Valentine's Specialist Cars Ltd Unaudited accounts Contents
Page
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Valentine's Specialist Cars Ltd Company Information for the year ended 31 December 2020
Director
Valentine Farrell
Company Number
11104502 (England and Wales)
Registered Office
36 Vayre Close Chipping Sodbury BRISTOL BS37 6NU ENGLAND
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Valentine's Specialist Cars Ltd Statement of financial position as at 31 December 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
13,019 
11,032 
Current assets
Inventories
352,391 
398,676 
Debtors
5
5,019 
8,270 
Cash at bank and in hand
109,244 
35,683 
466,654 
442,629 
Creditors: amounts falling due within one year
6
(321,112)
(394,382)
Net current assets
145,542 
48,247 
Total assets less current liabilities
158,561 
59,279 
Creditors: amounts falling due after more than one year
7
(50,000)
(17,942)
Net assets
108,561 
41,337 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
108,560 
41,336 
Shareholders' funds
108,561 
41,337 
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 February 2021 and were signed on its behalf by
Valentine Farrell Director Company Registration No. 11104502
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Valentine's Specialist Cars Ltd Notes to the Accounts for the year ended 31 December 2020
1
Statutory information
Valentine's Specialist Cars Ltd is a private company, limited by shares, registered in England and Wales, registration number 11104502. The registered office is 36 Vayre Close, Chipping Sodbury, BRISTOL, BS37 6NU, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0% Straight line
Plant & machinery
20% Straight line
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2020
8,696 
2,919 
11,615 
Additions
- 
3,213 
3,213 
At 31 December 2020
8,696 
6,132 
14,828 
Depreciation
At 1 January 2020
- 
583 
583 
Charge for the year
- 
1,226 
1,226 
At 31 December 2020
- 
1,809 
1,809 
Net book value
At 31 December 2020
8,696 
4,323 
13,019 
At 31 December 2019
8,696 
2,336 
11,032 
5
Debtors: amounts falling due within one year
2020 
2019 
£ 
£ 
Trade debtors
1,845 
1,370 
Other debtors
3,174 
6,900 
5,019 
8,270 
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Valentine's Specialist Cars Ltd Notes to the Accounts for the year ended 31 December 2020
6
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Bank loans and overdrafts
47,720 
85,720 
Trade creditors
- 
12,470 
Taxes and social security
37,675 
464 
Other creditors
100 
- 
Loans from directors
235,117 
295,228 
Accruals
500 
500 
321,112 
394,382 
7
Creditors: amounts falling due after more than one year
2020 
2019 
£ 
£ 
Bank loans
50,000 
- 
Taxes and social security
- 
17,942 
50,000 
17,942 
8
Average number of employees
During the year the average number of employees was 2 (2019: 2).
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