REGISTERED NUMBER:
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CAR BODY (BANBURY) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2022 |
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REGISTERED NUMBER:
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CAR BODY (BANBURY) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2022 |
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CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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CAR BODY (BANBURY) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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15 High Street |
Brackley |
Northamptonshire |
NN13 7DH |
CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952) |
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BALANCE SHEET |
30 APRIL 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952) |
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BALANCE SHEET - continued |
30 APRIL 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
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1. | STATUTORY INFORMATION |
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Car Body (Banbury) Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The presentation currency of the financial statements is rounded to the nearest pound sterling (£). |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
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Sale of goods |
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Turnover from the sale of vehicle parts is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of goods. |
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Rendering of services |
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When the outcome of a transaction can be estimated reliably, turnover from labour services is recognised by reference to the stage of completion at the balance sheet date. |
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Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
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Tangible fixed assets |
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Leasehold property improvements | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
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2. | ACCOUNTING POLICIES - continued |
Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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Rent receivable |
Rent receivable under operating leases is charged to the profit and loss account on a straight line basis over the period of the lease. |
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Fixed asset investments |
Investments held as fixed assets are stated at cost, together with subsequent capital contributions, less any provisions for impairment in value. |
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Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the fixed asset investment. |
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Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
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4. | TANGIBLE FIXED ASSETS |
Leasehold | Fixtures |
property | Plant and | and |
improvements | machinery | fittings |
£ | £ | £ |
COST |
At 1 May 2021 |
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Additions |
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Disposals |
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At 30 April 2022 |
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DEPRECIATION |
At 1 May 2021 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2022 |
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NET BOOK VALUE |
At 30 April 2022 |
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At 30 April 2021 |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2021 |
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Additions |
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Disposals | ( |
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At 30 April 2022 |
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DEPRECIATION |
At 1 May 2021 |
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Charge for year |
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Eliminated on disposal | ( |
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( |
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At 30 April 2022 |
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NET BOOK VALUE |
At 30 April 2022 |
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At 30 April 2021 |
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The net book value of tangible fixed assets includes £NIL (2021 - £ 6,907 ) in respect of assets held under hire purchase contracts. |
CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 May 2021 |
and 30 April 2022 |
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NET BOOK VALUE |
At 30 April 2022 |
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At 30 April 2021 |
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6. | DEBTORS |
2022 | 2021 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Amounts recoverable on contract |
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Other debtors |
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Prepayments |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Hire purchase contracts (see note 8) |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 77,501 | 49,365 |
Other creditors |
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Directors' current accounts | - | 5,725 |
Accrued expenses |
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8. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2022 | 2021 |
£ | £ |
Net obligations repayable: |
Within one year |
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CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
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8. | LEASING AGREEMENTS - continued |
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Non-cancellable operating | leases |
2022 | 2021 |
£ | £ |
Within one year |
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Between one and five years |
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The company has other property leases but are not considered to be lease commitments, a maximum of three months notice is required to cease these leases. |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2022 | 2021 |
£ | £ |
Hire purchase contracts | - | 2,873 |
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The bank loan and overdraft is secured by a fixed and floating charge over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixtures fixed plant and machinery. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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11. | CONTINGENT LIABILITIES |
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There is an ongoing tax investigation by HM Revenue & Customs into partnership loss relief claimed by the company in respect of their investment in Altenau Developments LLP. The enquiry commenced on 8 September 2015. No provision has been made in these financial statements in respect of additional tax liabilities which may arise as a result of the investigation because the directors consider the defence will be successful. |
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12. | RELATED PARTY DISCLOSURES |
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It is considered that all related party transactions have been concluded under normal market conditions and therefore no disclosure is required. |
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13. | ULTIMATE CONTROLLING PARTY |
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