Croft Travel Chauffeurs Limited Filleted accounts for Companies House (small and micro)

PARKERS SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12031794

Croft Travel Chauffeurs Limited

Filleted Unaudited Financial Statements

31 March 2021

Croft Travel Chauffeurs Limited

Financial Statements

Year ended 31 March 2021

Contents	Page

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	3

Croft Travel Chauffeurs Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Croft Travel Chauffeurs Limited

Year ended 31 March 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Croft Travel Chauffeurs Limited for the year ended 31 March 2021, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

SMITH & CO Chartered accountants

Unit G2 Tanfield Business Centre Stanley Co Durham DH9 9DB

21 December 2021

Croft Travel Chauffeurs Limited

Statement of Financial Position

31 March 2021

	2021	2020
Note	£	£

Fixed assets

Intangible assets	5	20,533	20,533

Current assets

Cash at bank and in hand	8,887	5,797

Creditors: amounts falling due within one year	6	62,562	38,973
		--------	--------
Net current liabilities		53,675	33,176
		--------	--------
Total assets less current liabilities		( 33,142)	( 12,643)

Creditors: amounts falling due after more than one year	7	50,000	–
		--------	--------
Net liabilities		( 83,142)	( 12,643)
		--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 83,143)	( 12,644)
	--------	--------
Shareholders deficit	( 83,142)	( 12,643)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- 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 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 21 December 2021 , and are signed on behalf of the board by:

Mr L Beck
Director

Company registration number: 12031794

Croft Travel Chauffeurs Limited

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Office 5, Consett Business Park, Consett, County Durham, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2020: 6 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2020 and 31 March 2021	20,533
	--------
Amortisation
At 1 April 2020 and 31 March 2021	–
	--------
Carrying amount
At 31 March 2021	20,533
	--------
At 31 March 2020	20,533
	--------

6. Creditors: amounts falling due within one year

	2021	2020
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	54,510	35,518
Social security and other taxes	4,877	2,805
Other creditors	3,175	650
	--------	--------
	62,562	38,973
	--------	--------

7. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	50,000	–
	--------	----