Green Lane Motor Spares Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03158320 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Green Lane Motor Spares Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr V K Rathod

Mr V Rathod

Mrs R V Rathod

Mr N Rathod

Mr M Rathod

SECRETARY:

Mrs R V Rathod

REGISTERED OFFICE:

41A Green Lane

Ilford

Essex

IG1 1XG

REGISTERED NUMBER:

03158320 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,877

89

CURRENT ASSETS

Stocks

5

24,500

27,500

Debtors

6

2,512

1,118

Cash at bank and in hand

857,858

729,966

884,870

758,584

CREDITORS

Amounts falling due within one year

7

410,263

328,037

NET CURRENT ASSETS

474,607

430,547

TOTAL ASSETS LESS CURRENT LIABILITIES

476,484

430,636

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

476,384

430,536

476,484

430,636

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 1 December 2021 and were signed on its behalf by:

Mr V K Rathod - Director

1.	STATUTORY INFORMATION

Green Lane Motor Spares Limited 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.

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2020

19,733

-

19,733

Additions

-

2,413

2,413

At 31 March 2021

19,733

2,413

22,146

DEPRECIATION

At 1 April 2020

19,644

-

19,644

Charge for year

22

603

625

At 31 March 2021

19,666

603

20,269

NET BOOK VALUE

At 31 March 2021

67

1,810

1,877

At 31 March 2020

89

-

89

5.

STOCKS

31.3.21

31.3.20

£

£

Stocks

24,500

27,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

1,512

-

Prepayments

1,000

1,118

2,512

1,118

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

19,500

24,350

Tax

24,404

22,596

Social security and other taxes

789

1,481

VAT

5,868

11,006

Other creditors

5,075

4,389

Directors' current accounts

350,877

260,465

Accrued expenses

3,750

3,750

410,263

328,037