|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CARTAKEBACK.COM LIMITED |
|
Unaudited Financial Statements |
|
for the Year Ended 31st December 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CARTAKEBACK.COM LIMITED |
|
Unaudited Financial Statements |
|
for the Year Ended 31st December 2019 |
|
|
|
|
|
CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the year ended 31st December 2019 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
CARTAKEBACK.COM LIMITED |
|
Company Information |
for the year ended 31st December 2019 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
1 Abbots Quay |
Monks Ferry |
Birkenhead |
Merseyside |
CH41 5LH |
CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288) |
|
Balance Sheet |
31st December 2019 |
|
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
|
|
Tangible assets | 4 |
|
|
Investments | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288) |
|
Balance Sheet - continued |
31st December 2019 |
|
|
|
|
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
were signed on its behalf by: |
|
|
|
|
|
|
|
|
|
|
CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288) |
|
Notes to the Financial Statements |
for the year ended 31st December 2019 |
|
1. | STATUTORY INFORMATION |
|
Cartakeback.com Limited is a
|
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 |
|
|
The financial statements are presented in Sterling (£). |
|
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements and estimates. |
The areas in the financial statements where these judgements and estimates have been made include: |
|
Provision for bad debts resultant from management review of the debtors ledger identifying specific balances |
which are deemed unlikely to be recovered due to their understanding of the current status with the |
customer. |
|
Fixed asset investments are valued at cost. The valuation is considered annually by management in light of the |
performance of the companies past and present which the valuation represents along with expected future |
performance of those companies based on management experience and knowledge. |
|
The useful economic lives and residual values of fixed assets are assessed by management on a timely basis. |
|
Turnover |
Turnover is primarily derived from three sources: |
|
1. Contributions from motor vehicle manufacturers recognised on an annual basis under long term contractual |
arrangements. |
|
2. Service fees from contracted authorised treatment facilities (ATFs) in connection with the supply of |
compliance services to them for the vehicles that they have processed. The service fee is generated at the |
point at which the ATF loads the vehicle data onto the Financial and Data System (FADS). |
|
3. Referral fees from the CTB Collect scheme. The fees are earned when one of our ATF customers confirms |
that they have taken delivery of a scrap vehicle referred to them via our website. |
|
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. |
|
|
CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288) |
|
Notes to the Financial Statements - continued |
for the year ended 31st December 2019 |
|
2. | ACCOUNTING POLICIES - continued |
|
Tangible fixed assets |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any |
accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the |
asset to the location and condition necessary for it to be capable of operating in the manner intended by |
management. |
|
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
|
Plant and machinery - 25% reducing balance |
|
|
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if |
appropriate, or if there is an indication of a significant change since the last reporting date. |
|
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are |
recognized in the Statement of income and retained earnings. |
|
Tangible and intangible fixed assets are reviewed for impairment if there is an indication that an impairment |
has occurred. Where there is evidence of impairment, fixed assets are written down to their recoverable |
amount. Any such write-down is charged to operating profit. |
|
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less impairment. |
|
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans |
to related parties and investments in non-puttable ordinary shares. |
|
Debtors, creditors, and intercompany loans (being repayable on demand) are measured at the undiscounted |
amount of the cash or other consideration expected to be paid. |
|
Taxation |
Taxation for the Year comprises current and deferred tax, recognized in the Income Statement |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognized at the amount of tax payable using the tax rates and laws that have been enacted. |
|
Deferred tax |
Deferred tax is recognized 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 recognized 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 recognized 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. |
|
Employees and directors |
The average number of directors during the year was 7. There were no employees in the year. |
CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288) |
|
Notes to the Financial Statements - continued |
for the year ended 31st December 2019 |
|
3. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st January 2019 |
|
Additions |
|
At 31st December 2019 |
|
AMORTISATION |
At 1st January 2019 |
|
Charge for year |
|
At 31st December 2019 |
|
NET BOOK VALUE |
At 31st December 2019 |
|
At 31st December 2018 |
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1st January 2019 |
and 31st December 2019 |
|
DEPRECIATION |
At 1st January 2019 |
and 31st December 2019 |
|
NET BOOK VALUE |
At 31st December 2019 |
|
At 31st December 2018 |
|
CARTAKEBACK.COM LIMITED (REGISTERED NUMBER: 04500288) |
|
Notes to the Financial Statements - continued |
for the year ended 31st December 2019 |
|
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st January 2019 |
|
Additions |
|
At 31st December 2019 |
|
NET BOOK VALUE |
At 31st December 2019 |
|
At 31st December 2018 |
|
|
Further detail is included in note 8. |
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
|
|
Taxation and social security | ( |
) |
|
Other creditors |
|
|
|
|
|
8. | RELATED PARTY DISCLOSURES |
|
Two subsidiary companies have been set up in both New Zealand and Australia. Costs incurred in the set up of |
these companies were treated as loans which would have become repayable to Cartakeback.com Limited once |
these companies began to trade. These loans made to Cartakeback Australia PTY Ltd and Cartakeback New |
Zealand Limited have been in part capitalised and are now included in investments. The value of those |
investments at the balance sheet date amounts to £575,813 (2018 - £575,813). |
|
During the year a further subsidiary company was set up in Ireland, Cartakeback Ireland Ltd. Cartakeback.com |
Limited owns 100% of the issued share capital of Cartakeback Ireland Ltd, with the sum of £914 included in |
investments at the year end in relation to the value of the issued share capital held at 31st December 2019. |
|
During the year, loans were made to Cartakeback Ireland Ltd to assist with the set up costs of the company, |
with £30,053 being included in debtors at the year end with regards these loans. |