Privat Car UK Limited - Accounts to registrar (filleted) - small 18.2

Privat Car UK Limited - Accounts to registrar (filleted) - small 18.2

BRITANNIA OBSERVATION WHEELS LIMITED - Company Information

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REGISTERED NUMBER: 03398478 (England and Wales)






Privat Car UK Limited

Financial Statements

for the Year Ended 31 December 2020





SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX








Privat Car UK Limited (Registered number: 03398478)

Contents of the Financial Statements
for the year ended 31 December 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Privat Car UK Limited

Company Information
for the year ended 31 December 2020







DIRECTOR: Mr M R Ruigrok vander Werve





SECRETARY: Mr L H Montijn





REGISTERED OFFICE: 33 George Street
Wakefield
West Yorkshire
WF1 1LX





REGISTERED NUMBER: 03398478 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX
Page 1
Privat Car UK Limited (Registered number: 03398478)

Balance Sheet
31 December 2020

2020 2019
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 535 1
Investments 5 - -
535 1

CURRENT ASSETS
Stocks 97,292 103,370
Debtors 6 65,330 64,590
Cash at bank 286,169 64,830
448,791 232,790
CREDITORS
Amounts falling due within one year 7 397,524 275,621
NET CURRENT ASSETS/(LIABILITIES) 51,267 (42,831 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
51,802
(42,830
)

The notes form part of these financial statements

Page 2 continued...
Privat Car UK Limited (Registered number: 03398478)

Balance Sheet - continued
31 December 2020

2020 2019
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 51,702 (42,930 )
SHAREHOLDERS' FUNDS 51,802 (42,830 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 14 September 2021 and were signed by:





Mr M R Ruigrok vander Werve - Director


The notes form part of these financial statements

Page 3
Privat Car UK Limited (Registered number: 03398478)

Notes to the Financial Statements
for the year ended 31 December 2020


1. STATUTORY INFORMATION

Privat Car UK 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 company's functional and presentation currency is the pound sterling £. All financial information presented has been rounded to the nearest £, unless otherwise stated.

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.

Going concern - Coronavirus Pandemic
The Directors have considered the risks and uncertainties arising from the coronavirus pandemic which began to take effect on a global scale from February 2020 onwards. They have taken account in particular of the circumstances of the company's typical customer base, newly introduced improvements to operational procedures, Government financial support including the Coronavirus Job Retention Scheme and the Coronavirus Business Interruption Loan Scheme and the company's own cash resources so the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and, therefore, continue to adopt the going concern basis in preparing these financial statements.

Turnover
Turnover represents sales of goods, rental of equipment and handling charges net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Tangible fixed assets are initially recorded at cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Page 4 continued...
Privat Car UK Limited (Registered number: 03398478)

Notes to the Financial Statements - continued
for the year ended 31 December 2020


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 January 2020 2,449
Additions 712
At 31 December 2020 3,161
DEPRECIATION
At 1 January 2020 2,448
Charge for year 178
At 31 December 2020 2,626
NET BOOK VALUE
At 31 December 2020 535
At 31 December 2019 1

Page 5 continued...
Privat Car UK Limited (Registered number: 03398478)

Notes to the Financial Statements - continued
for the year ended 31 December 2020


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
Additions 100
Impairments (100 )
At 31 December 2020 -
NET BOOK VALUE
At 31 December 2020 -

The investment represents 100% of the issued share capital of PFP Factoring Limited, a dormant company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Trade debtors 39,506 17,982
Amounts owed by group undertakings 25,824 40,877
Tax - 5,405
VAT - 326
65,330 64,590

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Trade creditors 15,000 -
Amounts owed to participating interests 85,000 -
Tax 261 -
VAT 18,463 -
Other creditors 276,964 246,504
Directors' current accounts - 1,280
Accruals and deferred income 1,836 27,837
397,524 275,621

8. PARENT COMPANY

The controlling party is Privat Companies B.V. (formerly Privat Car Europe B.V.).

Page 6