Cartek Garage Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08146703 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2020

for

Cartek Garage Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Daniel James George Goddard

Damien Shawyer

REGISTERED OFFICE:

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

REGISTERED NUMBER:

08146703 (England and Wales)

ACCOUNTANTS:

KT Accountants Limited

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

29,381

46,386

29,381

46,386

CURRENT ASSETS

Debtors

6

8,953

3,970

Cash at bank and in hand

56,245

34,017

65,198

37,987

CREDITORS

Amounts falling due within one year

7

56,221

53,972

NET CURRENT ASSETS/(LIABILITIES)

8,977

(15,985

)

TOTAL ASSETS LESS CURRENT LIABILITIES

38,358

30,401

PROVISIONS FOR LIABILITIES

4,542

7,520

NET ASSETS

33,816

22,881

CAPITAL AND RESERVES

Called up share capital

9

4

4

Retained earnings

33,812

22,877

SHAREHOLDERS' FUNDS

33,816

22,881

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2021 and were signed on its behalf by:

Daniel James George Goddard - Director

Damien Shawyer - Director

1.	STATUTORY INFORMATION

Cartek Garage Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 7 (2019 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2019

and 30 September 2020

38,000

AMORTISATION

At 1 October 2019

and 30 September 2020

38,000

NET BOOK VALUE

At 30 September 2020

-

At 30 September 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 October 2019

86,232

33,888

120,120

Additions

2,495

-

2,495

Disposals

(4,645

)

(15,686

)

(20,331

)

At 30 September 2020

84,082

18,202

102,284

DEPRECIATION

At 1 October 2019

55,144

18,590

73,734

Charge for year

7,236

2,560

9,796

Eliminated on disposal

-

(10,627

)

(10,627

)

At 30 September 2020

62,380

10,523

72,903

NET BOOK VALUE

At 30 September 2020

21,702

7,679

29,381

At 30 September 2019

31,088

15,298

46,386

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

and

fittings

£

COST

At 1 October 2019

27,870

Disposals

(4,645

)

Transfer to ownership

(23,225

)

At 30 September 2020

-

DEPRECIATION

At 1 October 2019

16,113

Transfer to ownership

(16,113

)

At 30 September 2020

-

NET BOOK VALUE

At 30 September 2020

-

At 30 September 2019

11,757

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade debtors

5,828

845

Prepayments

3,125

3,125

8,953

3,970

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Hire purchase contracts (see note 8)

-

4,645

Trade creditors

17,826

16,579

Corporation tax

30,818

25,021

VAT

5,456

5,236

Other creditors

318

323

Directors' current accounts

103

468

Accrued expenses

1,700

1,700

56,221

53,972

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.9.20

30.9.19

£

£

Net obligations repayable:

Within one year

-

4,645

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.20

30.9.19

value:

£

£

4

Ordinary

£1

4

4

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2020 and 30 September 2019:

30.9.20

30.9.19

£

£

Daniel James George Goddard

Balance outstanding at start of year

(154

)

(388

)

Amounts advanced

45,102

42,234

Amounts repaid

(45,000

)

(42,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(52

)

(154

)

Damien Shawyer

Balance outstanding at start of year

(154

)

(388

)

Amounts advanced

45,102

42,234

Amounts repaid

(45,000

)

(42,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(52

)

(154

)

11.	ULTIMATE CONTROLLING PARTY

No one has a controlling interest in the company.