Company registration number:
8127935
THE CAR LOAN WAREHOUSE LTD
Unaudited filleted financial statements
31 March 2019
THE CAR LOAN WAREHOUSE LTD
Statement of financial position
31 March 2019
|
|
|
2019
|
|
|
|
2018
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
6
|
22,676
|
|
|
|
14,540
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
22,676
|
|
|
|
14,540
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
7
|
189,036
|
|
|
|
216,442
|
|
|
Cash at bank and in hand
|
|
|
362,605
|
|
|
|
235,254
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
551,641
|
|
|
|
451,696
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
8
|
(
206,636)
|
|
|
|
(
162,494)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
345,005
|
|
|
|
289,202
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
367,681
|
|
|
|
303,742
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
367,681
|
|
|
|
303,742
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
100
|
|
|
|
100
|
Profit and loss account
|
|
|
|
|
367,581
|
|
|
|
303,642
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
367,681
|
|
|
|
303,742
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
19 August 2019
, and are signed on behalf of the board by:
Guy Prince
Jonathan Le Roux
Director
Director
Company registration number:
8127935
THE CAR LOAN WAREHOUSE LTD
Notes to the financial statements
Year ended 31 March 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Technology House, Station Road, Alton, Hampshire, GU34 2PZ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Fittings fixtures and equipment
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
32
(2018:
30
).
5.
Dividends
Equity dividends
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)
|
|
610,000
|
360,000
|
|
|
|
_______
|
_______
|
|
|
|
|
|
6.
Tangible assets
|
|
Fixtures, fittings and equipment
|
Total
|
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 April 2018
|
47,512
|
47,512
|
|
|
|
|
|
|
Additions
|
15,695
|
15,695
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 March 2019
|
63,207
|
63,207
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 April 2018
|
32,972
|
32,972
|
|
|
|
|
|
|
Charge for the year
|
7,559
|
7,559
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 March 2019
|
40,531
|
40,531
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 March 2019
|
22,676
|
22,676
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 March 2018
|
14,540
|
14,540
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
177,412
|
197,562
|
|
Other debtors
|
|
11,624
|
18,880
|
|
|
|
_______
|
_______
|
|
|
|
189,036
|
216,442
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Trade creditors
|
|
15,788
|
15,484
|
|
Corporation tax
|
|
156,175
|
115,172
|
|
Social security and other taxes
|
|
17,097
|
15,778
|
|
Other creditors
|
|
17,576
|
16,060
|
|
|
|
_______
|
_______
|
|
|
|
206,636
|
162,494
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Jonathan Le Roux
|
30
|
(
30)
|
-
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Jonathan Le Roux
|
70
|
(
40)
|
30
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
10.
Controlling party
The related parties are Mr G Prince and Mrs R Prince who both own 25% of the issued share capital and Le Roux Investments (2014) Ltd who holds 50% of the issued share capital.