Autoworx Motors Ltd - Accounts to registrar (filleted) - small 18.2

Autoworx Motors Ltd - Accounts to registrar (filleted) - small 18.2

AUTOWORX MOTORS LTD - Company Information

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REGISTERED NUMBER: 09387842 (England and Wales)

























Unaudited Financial Statements for the Year Ended 31 January 2018

for

Autoworx Motors Ltd
Autoworx Motors Ltd (Registered number: 09387842)






Contents of the Financial Statements
for the Year Ended 31 January 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Autoworx Motors Ltd

Company Information
for the Year Ended 31 January 2018







DIRECTOR: K Chiu





REGISTERED OFFICE: Unit B
Longridge Trading Estate
Knutsford
Cheshire
WA16 8PR





REGISTERED NUMBER: 09387842 (England and Wales)





ACCOUNTANTS: IN Accountancy Limited
6 Station View
Bramhall Moor Lane
Hazel Grove
Stockport
Cheshire
SK7 5ER
Page 1
Autoworx Motors Ltd (Registered number: 09387842)

Balance Sheet
31 January 2018

31.1.18 31.1.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,676 14,645

CURRENT ASSETS
Stocks 4,400 5,860
Debtors 5 215 -
Prepayments and accrued income 1,789 1,789
Cash at bank - 1,060
6,404 8,709
CREDITORS
Amounts falling due within one year 6 83,883 60,593
NET CURRENT LIABILITIES (77,479 ) (51,884 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(64,803
)
(37,239
)

CREDITORS
Amounts falling due after more than one
year
7
6,787
9,410
NET LIABILITIES (71,590 ) (46,649 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (71,690 ) (46,749 )
(71,590 ) (46,649 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The notes form part of these financial statements

Page 2 continued...
Autoworx Motors Ltd (Registered number: 09387842)

Balance Sheet - continued
31 January 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 15 October 2018 and were signed by:





K Chiu - Director


The notes form part of these financial statements

Page 3
Autoworx Motors Ltd (Registered number: 09387842)

Notes to the Financial Statements
for the Year Ended 31 January 2018

1. STATUTORY INFORMATION

Autoworx Motors 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 the provisions of Section 1A "Small Entities" 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 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.
Plant and machinery - 20% 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.

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.

Page 4 continued...
Autoworx Motors Ltd (Registered number: 09387842)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2018

2. ACCOUNTING POLICIES - continued

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 2 (2017 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 February 2017 22,883
Additions 1,200
At 31 January 2018 24,083
DEPRECIATION
At 1 February 2017 8,238
Charge for year 3,169
At 31 January 2018 11,407
NET BOOK VALUE
At 31 January 2018 12,676
At 31 January 2017 14,645

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.18 31.1.17
£    £   
Trade debtors 215 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.18 31.1.17
£    £   
Bank loans and overdrafts 7,110 3,900
Trade creditors 6,029 7,421
Taxation and social security 2,017 206
Other creditors 68,727 49,066
83,883 60,593

Page 5 continued...
Autoworx Motors Ltd (Registered number: 09387842)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2018

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.18 31.1.17
£    £   
Bank loans 6,787 9,410

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.18 31.1.17
£    £   
Within one year 3,099 3,099
Between one and five years 6,972 10,071
10,071 13,170

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K Chiu.

10. GOING CONCERN

The continued trading of the company is reliant upon the support of its director and creditors.

Page 6