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GREENWOOD AUTO SPARES LTD - Company Information

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GREENWOOD AUTO SPARES LTD

Registered Number:06812330

For the year ended 31 March 2022

England and Wales

Unaudited Financial Statements

For the year ended 31 March 2022

GREENWOOD AUTO SPARES LTD

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Registered Number :

06812330

As at 31 March 2022

GREENWOOD AUTO SPARES LTD

Statement of Financial Position

2021

2022

Notes

Fixed assets

Intangible assets

20,000

Property, plant and equipment

16,870

8,270

36,870

28,270

Current assets

Inventories

8,000

20,000

Trade and other receivables

946

352

15,811

Cash and cash equivalents

20,352

24,757

Trade and other payables: amounts falling due within one

year

(6,920)

(15,964)

17,837

4,388

Net current assets

Total assets less current liabilities

41,258

46,107

Trade and other payables: amounts falling due after more

than one year

(15,000)

(9,463)

31,795

Net assets

31,107

Capital and reserves

Called up share capital

Retained earnings

31,793

31,105

31,795

31,107

Shareholders' funds

For the year ended 31 March 2022 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 of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MR M GREENWOOD Director

These financial statements were approved and authorised for issue by the Board on 19 December 2022 and were signed by:

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Registered Number :

06812330

For the year ended 31 March 2022

GREENWOOD AUTO SPARES LTD

Statement of Financial Position Continued

The notes form part of these financial statements

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For the year ended 31 March 2022

GREENWOOD AUTO SPARES LTD

Notes to the Financial Statements

Statutory Information

GREENWOOD AUTO SPARES LTD is a private limited company, limited by shares, domiciled in England and Wales,

registration number 06812330.

Registered address:

COWPEN BEWLEY ROAD

BILLINGHAM

CLEVELAND

TS23 6GX

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in , is being amortised evenly over its estimated useful life of 0 years.

Property, plant and equipment

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Tools and equipment

20% Reducing balance

Computer Equipment

20% Reducing balance

Motor Vehicles

2. Intangible fixed assets

Goodwill

Cost or valuation

At 01 April 2021

20,000

At 31 March 2022

20,000

Net book value

At 31 March 2022

20,000

At 31 March 2021

20,000

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For the year ended 31 March 2022

GREENWOOD AUTO SPARES LTD

Notes to the Financial Statements Continued

3. Property, plant and equipment

Total

Computer

Equipment

Motor Vehicles

Tools and

equipment

Cost or

valuation

At 01 April 2021

22,918

9,945

12,973

12,817

2,067

10,300

450

Additions

At 31 March 2022

13,423

20,245

2,067

35,735

Provision for depreciation and impairment

At 01 April 2021

14,648

4,170

10,478

Charge for year

4,217

413

3,215

589

At 31 March 2022

18,865

413

7,385

11,067

At 31 March 2022

Net book value

2,356

12,860

1,654

16,870

At 31 March 2021

2,495

5,775

8,270

4. Inventories

2021

2022

Stocks

20,000

8,000

5. Trade and other receivables

2021

2022

Prepayments and accrued income

352

946

6. Trade and other payables: amounts falling due within one year

2021

2022

Bank loans and overdraft (secured)

6,032

Bank loans and overdraft

3,305

Trade creditors

1,009

Taxation and social security

1,872

5,117

Accruals and deferred income

895

Directors' loan accounts

3,746

810

15,964

6,920

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For the year ended 31 March 2022

GREENWOOD AUTO SPARES LTD

Notes to the Financial Statements Continued

7. Trade and other payables: amounts falling due after more than one year

2021

2022

Bank loans and overdraft

9,463

15,000

8. Average number of persons employed

During the year the average number of employees was 2 (2021 : 2)

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