Ray Twiss Motors Limited - Period Ending 2023-01-31

Ray Twiss Motors Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Ray Twiss Motors Limited

Company Information

Director

R J Twiss

Registered office

7-9 Macon Court Crewe Cheshire CW1 6EA

Accountants

Alextra Group Limited Chartered Certified Accountants 7-9 Macon Court Crewe Cheshire CW1 6EA

Ray Twiss Motors Limited

(Registration number: 04568172)
Balance Sheet as at 31 January 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	11,853	9,484
Current assets
Stocks	5	323,580	274,590
Debtors	6	1,911	2,475
Cash at bank and in hand		186,213	221,706
		511,704	498,771
Creditors: Amounts falling due within one year	7	(115,881)	(118,247)
Net current assets		395,823	380,524
Net assets		407,676	390,008
Capital and reserves
Called up share capital		1	1
Profit and loss account		407,675	390,007
Shareholders' funds		407,676	390,008

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors Report or the Profit and Loss Account has been taken.

Approved and authorised by the director on 2 June 2023
 

......................................... R J Twiss Director

Ray Twiss Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	25% on written down value
Plant and machinery	15% on written down value
Furniture and fittings	15% on written down value
Land and buildings	5% on written down value

Ray Twiss Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 4).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 February 2022	5,498	5,347	9,239	20,084
Additions	-	2,168	1,869	4,037
At 31 January 2023	5,498	7,515	11,108	24,121
Depreciation
At 1 February 2022	1,657	3,905	5,038	10,600
Charge for the year	192	566	910	1,668
At 31 January 2023	1,849	4,471	5,948	12,268
Carrying amount
At 31 January 2023	3,649	3,044	5,160	11,853
At 31 January 2022	3,841	1,442	4,201	9,484

5

Stocks

	2023 £	2022 £
Other inventories	323,580	274,590

6

Debtors

	2023 £	2022 £
Prepayments	1,911	2,007
Other debtors	-	468
	1,911	2,475

Ray Twiss Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

7

Creditors

Creditors: amounts falling due within one year

	2023 £	2022 £
Due within one year
Taxation and social security	4,941	19,000
Accruals and deferred income	9,228	4,342
Other creditors	101,712	94,905
	115,881	118,247