Longwood Auto Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08718578 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Longwood Auto Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N C Codreanu

A I Khan

REGISTERED OFFICE:

366 Horns Road

Ilford

Essex

IG6 1BT

REGISTERED NUMBER:

08718578 (England and Wales)

ACCOUNTANTS:

S&K Associates Ltd T/A Shoaibi and Co

Chartered Certified Accountants

Unit 1 - 527 Green Lane

Ilford

IG3 9RH

FIXED ASSETS

Tangible assets

4

1,980

8,629

Investments

5

40,100

40,100

42,080

48,729

CURRENT ASSETS

Stocks

28,500

22,850

Debtors

6

176,067

74,826

Cash at bank and in hand

9,323

115,328

213,890

213,004

CREDITORS

Amounts falling due within one year

7

220,312

236,488

NET CURRENT LIABILITIES

(6,422

)

(23,484

)

TOTAL ASSETS LESS CURRENT LIABILITIES

35,658

25,245

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

35,558

25,145

SHAREHOLDERS' FUNDS

35,658

25,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2020 and were signed on its behalf by:

A I Khan - Director

1.	STATUTORY INFORMATION

Longwood Auto Services Ltd 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 represents net invoice sales of goods and services, excluding value added tax.

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 etc

-

20% on cost

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 Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 15 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2019

and 31 December 2019

39,683

DEPRECIATION

At 1 January 2019

31,054

Charge for year

6,649

At 31 December 2019

37,703

NET BOOK VALUE

At 31 December 2019

1,980

At 31 December 2018

8,629

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2019

and 31 December 2019

40,100

NET BOOK VALUE

At 31 December 2019

40,100

At 31 December 2018

40,100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

36,214

25,239

Amounts owed by group undertakings

37,172

34,087

Other debtors

102,681

15,500

176,067

74,826

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

8,952

7,957

Taxation and social security

63,251

80,322

Other creditors

148,109

148,209

220,312

236,488