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Registered Number: 10760785
England and Wales

 

 

 

REDDISH MOTOR COMPANY LTD


Abridged Accounts
 


Period of accounts

Start date: 01 June 2020

End date: 31 May 2021
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 May 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Yacoob Malik & Co.
31 May 2021



....................................................
Yacoob Malik & Co.
2 Brighton Range
Gorton
Manchester
M18 7LP
15 August 2022
1
 
 
Notes
 
2021
£
  2020
£
Fixed assets      
Tangible fixed assets 5,251    6,404 
5,251    6,404 
Current assets      
Stocks 43,200    9,540 
Cash at bank and in hand 35,426    1,876 
78,626    11,416 
Creditors: amount falling due within one year (30,390)   (17,232)
Net current assets 48,236    (5,816)
 
Total assets less current liabilities 53,487    588 
Creditors: amount falling due after more than one year (37,500)  
Net assets 15,987    588 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 15,887    488 
Shareholder's funds 15,987    588 
 


For the year ended 31 May 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 15 August 2022 and were signed by:


--------------------------------
Abdul HAFIZ
Director
2
General Information
REDDISH MOTOR COMPANY LTD is a private company, limited by shares, registered in England and Wales, registration number 10760785, registration address 371 REDDISH ROAD, STOCKPORT , SK5 7EW

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, 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:
Motor Vehicles 18% Reducing Balance
Fixtures and Fittings 18% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Staff Costs

2021   2020
 
Average number of employees during the year Number   Number
Administration 1   
 

3.

Average number of employees

Average number of employees during the year was 1 (2020 : 0).
4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 June 2020    
Additions 6,850    960    7,810 
Disposals    
At 31 May 2021 6,850    960    7,810 
Depreciation
At 01 June 2020 1,233    173    1,406 
Charge for year 1,011    142    1,153 
On disposals    
At 31 May 2021 2,244    315    2,559 
Net book values
Closing balance as at 31 May 2021 4,606    645    5,251 
Opening balance as at 01 June 2020 5,617    787    6,404 


5.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2021
£
  2020
£
100 Class A shares of £1.00 each 100    100 
100    100 

3