| Autos Great Britain Limited |
| Accountants' Report |
|
|
| Accountants' report to the directors of |
| Autos Great Britain Limited |
|
| You consider that the company is exempt from an audit for the year ended 31 August 2019. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
|
| Coalesco Accountants Ltd |
| Chartered Certified Accountants |
| 156 Russell Drive |
| Wollaton |
| Nottingham |
| NG8 2BE |
|
| 21 July 2020 |
|
| Autos Great Britain Limited |
| Registered number: |
02134466 |
| Balance Sheet |
| as at 31 August 2019 |
|
| Notes |
|
|
2019 |
|
|
2018 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
76 |
|
|
91 |
|
| Current assets |
| Stocks |
|
|
20,045 |
|
|
16,411 |
| Debtors |
4 |
|
6,950 |
|
|
1,788 |
| Cash at bank and in hand |
|
|
4,668 |
|
|
5,292 |
|
|
|
31,663 |
|
|
23,491 |
|
| Creditors: amounts falling due within one year |
5 |
|
(14,352) |
|
|
(4,683) |
|
| Net current assets |
|
|
|
17,311 |
|
|
18,808 |
|
| Net assets |
|
|
|
17,387 |
|
|
18,899 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
17,287 |
|
|
18,799 |
|
| Shareholders' funds |
|
|
|
17,387 |
|
|
18,899 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| F Wakeford |
| Director |
| Approved by the board on 21 July 2020 |
|
| Autos Great Britain Limited |
| Notes to the Accounts |
| for the year ended 31 August 2019 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Computer equipment |
25% reducing balance |
|
Fixtures, fittings, tools and equipment |
10% Reducing balance |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
| 2 |
Employees |
2019 |
|
2018 |
| Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 September 2018 |
985 |
|
At 31 August 2019 |
985 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2018 |
894 |
|
Charge for the year |
15 |
|
At 31 August 2019 |
909 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2019 |
76 |
|
At 31 August 2018 |
91 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade debtors |
3,083 |
|
1,771 |
|
Deferred tax asset |
|
|
|
|
- |
|
17 |
|
Other debtors |
3,867 |
|
- |
|
|
|
|
|
|
6,950 |
|
1,788 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade creditors |
1,064 |
|
627 |
|
Corporation tax |
966 |
|
1,262 |
|
Other taxes and social security costs |
315 |
|
441 |
|
Other creditors |
12,007 |
|
2,353 |
|
|
|
|
|
|
14,352 |
|
4,683 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Share capital |
2019 |
|
2018 |
| £ |
£ |
|
|
Ordinary shares 80 of £1 each |
80 |
|
80 |
|
Ordinary A shares 20 of £1 each |
20 |
|
20 |
|
|
|
|
|
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
|
|
During the year Auto Great Britain Limited purchased services of £5,000 (2018 - £5,000) from Extromet Limited, a company in which Mr F Wakeford is a director and shareholder.
As at 31st August 2019, a sum of £3,867 (2018 - £1,499) was owed by Extromet Limited. |
|
|
| 8 |
Controlling party |
|
|
The controlling party is Mr F Wakeford. |
|
|
| 9 |
Other information |
|
|
Autos Great Britain Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
9 The Mews Potter Street |
|
Melbourne |
|
Derbyshire |
|
DE73 8LQ |
