Accounts filed on 31-03-2020

Accounts filed on 31-03-2020

ALL CARS LIMITED - Company Information

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06710676falsecar sales and mechanics.2019-04-012020-03-31http://www.companieshouse.gov.uk/2019-03-31http://www.companieshouse.gov.uk/pt:ShareCapital2019-03-31http://www.companieshouse.gov.uk/cd:Director12019-04-012020-03-31http://www.companieshouse.gov.uk/pt:ShareCapital2020-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12019-04-012020-03-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2019-04-012020-03-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2019-04-012020-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2020-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2019-03-31http://www.companieshouse.gov.uk/2019-04-012020-03-31http://www.companieshouse.gov.uk/2019-03-31http://www.companieshouse.gov.uk/cd:FRS1022019-04-012020-03-31http://www.companieshouse.gov.uk/2020-03-31http://www.companieshouse.gov.uk/cd:FullAccounts2019-04-012020-03-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2019-04-012020-03-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 06710676
All Cars Limited
ACCOUNTS
FOR THE YEAR ENDED 31/03/2020
Prepared By:
Victor Stewart
All Cars Limited
ACCOUNTS
FOR THE YEAR ENDED 31/03/2020
DIRECTORS
Aaron Hope Cohen
REGISTERED OFFICE
THE WHITE HOUSE
164 BRIDGE ROAD
SARISBURY GREEN
SOUTHAMPTON
SO31 7EH
COMPANY DETAILS
registered in , registered number 06710676
ACCOUNTANTS
Victor Stewart
All Cars Limited
ACCOUNTS
FOR THEYEARENDED31/03/2020
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
All Cars Limited
BALANCE SHEET AT 31/03/2020
20202019
Notes££
CURRENT ASSETS
Stock4,1003,990
Debtors313,92813,928
Cash at bank and in hand7,3857,908
25,41325,826
CREDITORS: Amounts falling due within one year423,96124,432
NET CURRENT ASSETS1,4521,394
TOTAL ASSETS LESS CURRENT LIABILITIES1,4521,394
CAPITAL AND RESERVES
Called up share capital611
Profit and loss account1,4511,393
SHAREHOLDERS' FUNDS1,4521,394
For the year ending 31/03/2020 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 25/01/2021 and signed on their behalf by
.............................
Aaron Hope Cohen
Director
All Cars Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2020
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
2. STOCK 20202019
££
Stock comprises:
Stock4,1003,990
4,1003,990
3. DEBTORS 20202019
££
Amounts falling due within one year
Other debtors13,92813,928
13,92813,928
All Cars Limited
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20202019
££
Corporation tax14326
Directors current account23,28723,446
Accruals660660
23,96124,432
5. EMPLOYEES
20202019
No.No.
Average number of employees11
6. SHARE CAPITAL 20202019
££
Allotted, issued and fully paid:
1 Class 1 shares of £1 each11
11
New shares issued during period:
1 Class 1 shares of £1 each11
7. RELATED PARTY TRANSACTIONS
The company made loans to the value of £NIL (2019: £NIL) to OAC Recycling Limited during the period. The company also paid for services to the value of £NIL (2019: £7,800) on behalf of OAC Recycling Limited during the year. As at the balance sheet date, £13,928 (2019: £13,928) was outstanding.
The company received rent from OAC Recylcing Limited to the value of £8,400 (2018: £8,400). The company purchased goods to the value of £NIL (2018: £160) from OAC Recylcing Limited during the period.
OAC Recycling Limited is a company solely owned by Mr A Cohen, who is also its sole director.