Autoslide Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02365719 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

AUTOSLIDE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D M Ryan

SECRETARY:

N Ryan

REGISTERED OFFICE:

1 Carnegie Road

Newbury

Berkshire

RG14 5DJ

REGISTERED NUMBER:

02365719 (England and Wales)

ACCOUNTANTS:

Banks & Co Limited

Chartered Certified Accountants

1 Carnegie Road

Newbury

Berkshire

RG14 5DJ

FIXED ASSETS

Tangible assets

4

1,349

1,587

CURRENT ASSETS

Debtors

5

21,388

12,725

Cash at bank

5,043

4,119

26,431

16,844

CREDITORS

Amounts falling due within one year

6

23,604

15,365

NET CURRENT ASSETS

2,827

1,479

TOTAL ASSETS LESS CURRENT LIABILITIES

4,176

3,066

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

4,076

2,966

SHAREHOLDERS' FUNDS

4,176

3,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 January 2021 and were signed by:

D M Ryan - Director

1.	STATUTORY INFORMATION

Autoslide is a private company, limited by shares, registered in England and Wales. The company's registered number is 02365719 and its registered office is 1 Carnegie Road, Newbury, Berkshire, RG14 5DJ.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Overall risk to operations

Since 31 March 2020, in common with many other companies, the outbreak of COVID-19 in the UK and the measures being taken to control its spread, have had a detrimental impact on our business. Specifically sales enquiries have reduced although actual sales returned to the previous year's levels during the middle of the year there has been a slowdown during the latest lock down. The main employee of the company has been furloughed for the majority of the past 9 months

The Company has determined that these events are non-adjusting post balance sheet events. Accordingly, the financial position as at and results of the operations for the year ended 31 March 2020 have not been adjusted to reflect their impact. The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central bank responses, remains unclear at this time. It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the Company for the future periods.

Turnover

Turnover represents net invoiced 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.

Fixtures and fittings

-

15% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2019

and 31 March 2020

2,396

DEPRECIATION

At 1 April 2019

809

Charge for year

238

At 31 March 2020

1,047

NET BOOK VALUE

At 31 March 2020

1,349

At 31 March 2019

1,587

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

20,192

10,799

Other debtors

1,196

1,926

21,388

12,725

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

11,804

11,748

Taxation and social security

7,954

2,070

Other creditors

3,846

1,547

23,604

15,365

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D M Ryan.