Gold Vehicles Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11974287 (England and Wales)

GOLD VEHICLES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2019 TO 31 MAY 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Bayliss

REGISTERED OFFICE:

Unit 6

47 Grace Road West

Marsh Barton

Exeter

EX2 8PU

REGISTERED NUMBER:

11974287 (England and Wales)

ACCOUNTANTS:

Jane Maynard Limited

T/A Maynard Johns

37 Mill Street

Bideford

DEVON

EX39 2JJ

FIXED ASSETS

Tangible assets

4

482

CURRENT ASSETS

Stocks

199,340

Debtors

5

24,388

Cash at bank

53,260

276,988

CREDITORS

Amounts falling due within one year

6

(117,611

)

NET CURRENT ASSETS

159,377

TOTAL ASSETS LESS CURRENT LIABILITIES

159,859

CREDITORS

Amounts falling due after more than one year

7

(50,000

)

PROVISIONS FOR LIABILITIES

(92

)

NET ASSETS

109,767

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

109,667

SHAREHOLDERS' FUNDS

109,767

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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 April 2021 and were signed by:

J Bayliss - Director

1.	STATUTORY INFORMATION

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

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 period 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 period 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 period was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

604

At 31 May 2020

604

DEPRECIATION

Charge for period

122

At 31 May 2020

122

NET BOOK VALUE

At 31 May 2020

482

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

22,438

Other debtors

1,950

24,388

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

11,088

Tax

25,877

Social security and other taxes

114

VAT

19,745

Other creditors

1,042

Directors' current accounts

57,885

Accrued expenses

1,860

117,611

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans - 1-2 years

5,000

Bank loans - 2-5 years

15,000

Bank loans more 5 yr by instal

30,000

50,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

30,000