K. Achillea Autobody & Paint Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05579503 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2020

for

K. Achillea Autobody & Paint Limited

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

4

Director:

K Achillea

Registered office:

Unit 2

32-34 Station Close

Potters Bar

Hertfordshire

EN6 ITL

Business address:

Unit B

1 Park Ridings

Hornsey

London

N8 0LB

Registered number:

05579503 (England and Wales)

Accountants:

JOHN ALEXANDER LIMITED

Unit 2

32-34 Station Close

Potters Bar

Hertfordshire

EN6 1TL

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

1,139

1,519

1,140

1,520

CURRENT ASSETS

Stocks

6

360

505

Debtors

7

1,144

-

Cash at bank

29,610

48,612

31,114

49,117

CREDITORS

Amounts falling due within one year

8

22,172

21,872

NET CURRENT ASSETS

8,942

27,245

TOTAL ASSETS LESS CURRENT LIABILITIES

10,082

28,765

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

9,982

28,665

SHAREHOLDERS' FUNDS

10,082

28,765

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 director and authorised for issue on 5 November 2020 and were signed by:

K Achillea - Director

1.	Statutory information

K. Achillea Autobody & Paint Limited is a private company, limited by shares , registered in England and Wales. The 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

3.	Employees and directors

The average number of employees during the year was 1 (2019 - 1 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 October 2019

and 30 September 2020

1

Net book value

At 30 September 2020

1

At 30 September 2019

1

5.	Tangible fixed assets

Plant and

Computer

machinery

equipment

Totals

£

£

£

Cost

At 1 October 2019

and 30 September 2020

13,592

795

14,387

Depreciation

At 1 October 2019

12,520

348

12,868

Charge for year

268

112

380

At 30 September 2020

12,788

460

13,248

Net book value

At 30 September 2020

804

335

1,139

At 30 September 2019

1,072

447

1,519

6.

Stocks

2020

2019

£

£

Stocks

360

505

7.

Debtors: amounts falling due within one year

2020

2019

£

£

Tax recoverable

1,144

-

8.

Creditors: amounts falling due within one year

2020

2019

£

£

Trade creditors

246

-

Taxation and social security

6,129

6,075

Other creditors

15,797

15,797

22,172

21,872