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 2021

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

19,718

25,760

Investments

5

40,000

40,100

59,718

65,860

CURRENT ASSETS

Stocks

17,450

13,450

Debtors

6

251,416

145,724

Cash at bank and in hand

351,642

516,923

620,508

676,097

CREDITORS

Amounts falling due within one year

7

520,937

529,338

NET CURRENT ASSETS

99,571

146,759

TOTAL ASSETS LESS CURRENT LIABILITIES

159,289

212,619

CREDITORS

Amounts falling due after more than one year

8

128,333

140,000

NET ASSETS

30,956

72,619

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

30,856

72,519

SHAREHOLDERS' FUNDS

30,956

72,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 14 December 2022 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2020 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

70,223

Additions

6,928

At 31 December 2021

77,151

DEPRECIATION

At 1 January 2021

44,463

Charge for year

12,970

At 31 December 2021

57,433

NET BOOK VALUE

At 31 December 2021

19,718

At 31 December 2020

25,760

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2021

40,100

Disposals

(100

)

At 31 December 2021

40,000

NET BOOK VALUE

At 31 December 2021

40,000

At 31 December 2020

40,100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

40,519

30,703

Amounts owed by group undertakings

-

63,652

Other debtors

210,897

51,369

251,416

145,724

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

106,636

111,000

Taxation and social security

87,370

74,742

Other creditors

326,931

343,596

520,937

529,338

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

128,333

140,000