James Paul (Car Sales) Limited - Accounts to registrar (filleted) - small 22.3
James Paul (Car Sales) Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| FOR |
| JAMES PAUL (CAR SALES) LIMITED |
| JAMES PAUL (CAR SALES) LIMITED (REGISTERED NUMBER: 03683564) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| JAMES PAUL (CAR SALES) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| JAMES PAUL (CAR SALES) LIMITED (REGISTERED NUMBER: 03683564) |
| BALANCE SHEET |
| 30 APRIL 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| JAMES PAUL (CAR SALES) LIMITED (REGISTERED NUMBER: 03683564) |
| BALANCE SHEET - continued |
| 30 APRIL 2022 |
| 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 |
| JAMES PAUL (CAR SALES) LIMITED (REGISTERED NUMBER: 03683564) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| 1. | STATUTORY INFORMATION |
| James Paul (Car Sales) Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is measured at fair value of the consideration received or receivable. Revenue represents amounts receivable from selling vehicles. |
| Revenue is recognised when the vehicles are sold and legal title has passed. |
| Workshop revenue represents amounts received from vehicle repairs and maintenance. |
| Revenue is recognised when the work is invoiced. |
| Tangible fixed assets |
| Freehold property | - |
| Short leasehold | - |
| Tenant's improvements | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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. |
| JAMES PAUL (CAR SALES) LIMITED (REGISTERED NUMBER: 03683564) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Short | Tenant's |
| property | leasehold | improvements |
| £ | £ | £ |
| COST |
| At 1 May 2021 |
| Additions |
| Disposals |
| At 30 April 2022 |
| DEPRECIATION |
| At 1 May 2021 |
| Charge for year |
| Eliminated on disposal |
| At 30 April 2022 |
| NET BOOK VALUE |
| At 30 April 2022 |
| At 30 April 2021 |
| JAMES PAUL (CAR SALES) LIMITED (REGISTERED NUMBER: 03683564) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 May 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 April 2022 |
| DEPRECIATION |
| At 1 May 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 April 2022 |
| NET BOOK VALUE |
| At 30 April 2022 |
| At 30 April 2021 |
| Included in cost of land and buildings is freehold land of £ 130,223 (2021 - £ 130,223 ) which is not depreciated. |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| Additions |
| At 30 April 2022 |
| DEPRECIATION |
| Charge for year |
| At 30 April 2022 |
| NET BOOK VALUE |
| At 30 April 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| JAMES PAUL (CAR SALES) LIMITED (REGISTERED NUMBER: 03683564) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts |
| 8. | PROVISIONS FOR LIABILITIES |
| 2022 | 2021 |
| £ | £ |
| Deferred tax | 3,254 | 3,454 |
| Deferred |
| tax |
| £ |
| Balance at 1 May 2021 |
| Credit to Income Statement during year | ( |
) |
| Balance at 30 April 2022 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary shares | £1 | 300 | 300 |