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Unaudited Financial Statements for the Year Ended 31 July 2020 |
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Discount Florida Car Hire Limited |
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Unaudited Financial Statements for the Year Ended 31 July 2020 |
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for |
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Discount Florida Car Hire Limited |
Discount Florida Car Hire Limited (Registered number: 10867695) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2020 |
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Page |
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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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Discount Florida Car Hire Limited |
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Company Information |
for the Year Ended 31 July 2020 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
4-6 Swaby's Yard |
Walkergate |
Beverley |
East Yorkshire |
HU17 9BZ |
Discount Florida Car Hire Limited (Registered number: 10867695) |
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Balance Sheet |
31 July 2020 |
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2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | 8 |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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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. |
Discount Florida Car Hire Limited (Registered number: 10867695) |
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Balance Sheet - continued |
31 July 2020 |
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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 director and authorised for issue on
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Discount Florida Car Hire Limited (Registered number: 10867695) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2020 |
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1. | STATUTORY INFORMATION |
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Discount Florida Car Hire Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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With the advent of the COVID-19 pandemic we are in uncertain times and the directors are mindful of the impact on the |
future trading prospects for the company as it complies with the safety measures and emergency legislation recently |
announced by the United Kingdom Government. |
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Clearly this will have an impact on the future viability of the company. We have therefore updated our trading predictions |
based on the anticipated impact of a reduction in trade, whilst also having access to support currently being offered by the |
United Kingdom Government. We believe that our assumptions are realistic based on evidence currently available, and that |
the company will consequently have enough headroom within its liquid capital to continue for the foreseeable future. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. |
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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. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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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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Deferred tax |
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. |
Discount Florida Car Hire Limited (Registered number: 10867695) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
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2. | ACCOUNTING POLICIES - continued |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 August 2019 |
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Additions |
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At 31 July 2020 |
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AMORTISATION |
At 1 August 2019 |
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Charge for year |
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At 31 July 2020 |
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NET BOOK VALUE |
At 31 July 2020 |
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At 31 July 2019 |
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Discount Florida Car Hire Limited (Registered number: 10867695) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2019 |
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Additions |
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At 31 July 2020 |
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DEPRECIATION |
At 1 August 2019 |
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Charge for year |
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At 31 July 2020 |
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NET BOOK VALUE |
At 31 July 2020 |
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At 31 July 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Corporation tax |
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Social security and other |
taxes | ( |
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Other creditors |
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Directors' current accounts | 13,565 | 25,601 |
Accrued expenses |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
Discount Florida Car Hire Limited (Registered number: 10867695) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1 August 2019 |
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Profit for the year |
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Dividends | ( |
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At 31 July 2020 |
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9. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £2,000 (2019 - £29,500) were paid to the directors . |
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The directors have provided the company with a loan, this loan is unsecured, interest free and repayable upon demand. |
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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