Company Registration No. 08165768 (England and Wales)
EMBASSY CARS (UK) LIMITED
Unaudited accounts
for the year ended 31 August 2021
EMBASSY CARS (UK) LIMITED
Unaudited accounts
Contents
EMBASSY CARS (UK) LIMITED
Company Information
for the year ended 31 August 2021
Director
Mr Mohammad YASIN
Company Number
08165768 (England and Wales)
Registered Office
EMBASSY CARS
OLIVER STREET
BIRMINGHAM
B7 4NX
ENGLAND
Accountants
The Accountancy Solutions
Apex House, Calthorpe Road
Edgbaston
Birmingham
West Midlands
B15 1TR
EMBASSY CARS (UK) LIMITED
Statement of financial position
as at 31 August 2021
Intangible assets
14,030
14,030
Tangible assets
23,590
42,143
Cash at bank and in hand
28,472
35,472
Creditors: amounts falling due within one year
(155,009)
(137,814)
Net current liabilities
(126,537)
(102,342)
Total assets less current liabilities
(88,917)
(46,169)
Creditors: amounts falling due after more than one year
(7,507)
(10,774)
Net liabilities
(96,424)
(56,943)
Called up share capital
100
100
Profit and loss account
(96,524)
(57,043)
Shareholders' funds
(96,424)
(56,943)
For the year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 February 2022 and were signed on its behalf by
Mr Mohammad YASIN
Director
Company Registration No. 08165768
EMBASSY CARS (UK) LIMITED
Notes to the Accounts
for the year ended 31 August 2021
EMBASSY CARS (UK) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08165768. The registered office is EMBASSY CARS, OLIVER STREET, BIRMINGHAM, B7 4NX, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
10% Straight line
Fixtures & fittings
10% Straight line
Computer equipment
10% Straight line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Intangible fixed assets (including purchased goodwill and patents) are not amortised. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
EMBASSY CARS (UK) LIMITED
Notes to the Accounts
for the year ended 31 August 2021
4
Intangible fixed assets
Goodwill
At 1 September 2020
14,030
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2020
60,000
20,500
105,030
185,530
At 31 August 2021
60,000
20,500
105,030
185,530
At 1 September 2020
56,403
16,400
70,584
143,387
Charge for the year
6,000
2,050
10,503
18,553
At 31 August 2021
62,403
18,450
81,087
161,940
At 31 August 2021
(2,403)
2,050
23,943
23,590
At 31 August 2020
3,597
4,100
34,446
42,143
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
8,552
6,558
Loans from directors
146,457
131,256
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
7,507
10,774
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
EMBASSY CARS (UK) LIMITED
Notes to the Accounts
for the year ended 31 August 2021
9
Capital commitments
2021
2020
Future capital expenditure for an upgrade of IT and computer system approved by the directors but not provided for in these financial statements is as follows.
10
Average number of employees
During the year the average number of employees was 4 (2020: 4).
