Retro Volkswagen Hire Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11283605 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

RETRO VOLKSWAGEN HIRE LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs S Elphick

REGISTERED OFFICE:

92 Beacon Avenue

Kings Hill

West Malling

ME19 4PD

REGISTERED NUMBER:

11283605 (England and Wales)

ACCOUNTANTS:

Kelley & Lowe Limited

Gwynfa House

677 Princes Road

Dartford

Kent

DA2 6EF

FIXED ASSETS

Tangible assets

4

25,290

29,793

CURRENT ASSETS

Debtors

5

883

-

Cash at bank

898

2,096

1,781

2,096

CREDITORS

Amounts falling due within one year

6

45,070

45,962

NET CURRENT LIABILITIES

(43,289

)

(43,866

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,999

)

(14,073

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(18,001

)

(14,075

)

SHAREHOLDERS' FUNDS

(17,999

)

(14,073

)

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 director acknowledges her 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 11 December 2021 and were signed by:

Mrs S Elphick - Director

1.	STATUTORY INFORMATION

Retro Volkswagen Hire 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.

The financial statements have been prepared on a going concern basis, notwithstanding the deficiency of net assets, on the grounds that the director has confirmed the necessary funds will be made available to enable the company to meet its obligations as they fall due.

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.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Government grants

Government grants received are recognised as income under the accruals model. During the year under review, the company received grants totalling £2,667 under the Coronavirus Job Retention Scheme.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

41,369

DEPRECIATION

At 1 April 2020

11,576

Charge for year

4,503

At 31 March 2021

16,079

NET BOOK VALUE

At 31 March 2021

25,290

At 31 March 2020

29,793

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

350

-

Other debtors

533

-

883

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other creditors

45,070

45,962