Custom Vans & Cosmetic Repair Centre Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09900625 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

CUSTOM VANS & COSMETIC REPAIR CENTRE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Windle

N Windle

SECRETARY:

REGISTERED OFFICE:

36/42 Neepsend Lane

Sheffield

S3 8AU

REGISTERED NUMBER:

09900625 (England and Wales)

ACCOUNTANT:

Hill and Co Accountants

106 Holme Lane

Hillsborough

Sheffield

South Yorkshire

S6 4JW

FIXED ASSETS

Tangible assets

4

158,227

159,946

CURRENT ASSETS

Stocks

30,000

32,965

Debtors

5

12,948

18,109

Cash at bank

111,249

17,491

154,197

68,565

CREDITORS

Amounts falling due within one year

6

44,641

39,577

NET CURRENT ASSETS

109,556

28,988

TOTAL ASSETS LESS CURRENT LIABILITIES

267,783

188,934

CREDITORS

Amounts falling due after more than one year

7

6,704

7,191

NET ASSETS

261,079

181,743

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

260,979

181,643

SHAREHOLDERS' FUNDS

261,079

181,743

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 1 August 2021 and were signed on its behalf by:

M Windle - Director

1.	STATUTORY INFORMATION

Custom Vans & Cosmetic Repair Centre Ltd 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.

Tangible fixed assets

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

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2020

and 31 March 2021

151,350

9,394

160,744

DEPRECIATION

At 1 April 2020

-

798

798

Charge for year

-

1,719

1,719

At 31 March 2021

-

2,517

2,517

NET BOOK VALUE

At 31 March 2021

151,350

6,877

158,227

At 31 March 2020

151,350

8,596

159,946

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Trade debtors

12,457

17,618

Other debtors

491

491

12,948

18,109

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Hire purchase contracts

488

488

Trade creditors

607

315

Taxation and social security

21,571

11,799

Other creditors

21,975

26,975

44,641

39,577

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/21

31/3/20

£

£

Hire purchase contracts

6,704

7,191