IRIS Accounts Production v22.1.0.628 07121903 director 1.2.21 31.1.22 31.1.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure071219032021-01-31071219032022-01-31071219032021-02-012022-01-31071219032020-01-31071219032020-02-012021-01-31071219032021-01-3107121903ns16:EnglandWales2021-02-012022-01-3107121903ns15:PoundSterling2021-02-012022-01-3107121903ns11:Director12021-02-012022-01-3107121903ns11:PrivateLimitedCompanyLtd2021-02-012022-01-3107121903ns11:SmallEntities2021-02-012022-01-3107121903ns11:AuditExempt-NoAccountantsReport2021-02-012022-01-3107121903ns11:SmallCompaniesRegimeForDirectorsReport2021-02-012022-01-3107121903ns11:SmallCompaniesRegimeForAccounts2021-02-012022-01-3107121903ns11:FullAccounts2021-02-012022-01-3107121903ns11:CompanySecretary12021-02-012022-01-3107121903ns11:RegisteredOffice2021-02-012022-01-3107121903ns6:CurrentFinancialInstruments2022-01-3107121903ns6:CurrentFinancialInstruments2021-01-3107121903ns6:Non-currentFinancialInstruments2022-01-3107121903ns6:Non-currentFinancialInstruments2021-01-3107121903ns6:ShareCapital2022-01-3107121903ns6:ShareCapital2021-01-3107121903ns6:RetainedEarningsAccumulatedLosses2022-01-3107121903ns6:RetainedEarningsAccumulatedLosses2021-01-3107121903ns6:PlantMachinery2021-01-3107121903ns6:FurnitureFittings2021-01-3107121903ns6:MotorVehicles2021-01-3107121903ns6:ComputerEquipment2021-01-3107121903ns6:PlantMachinery2021-02-012022-01-3107121903ns6:FurnitureFittings2021-02-012022-01-3107121903ns6:MotorVehicles2021-02-012022-01-3107121903ns6:ComputerEquipment2021-02-012022-01-3107121903ns6:PlantMachinery2022-01-3107121903ns6:FurnitureFittings2022-01-3107121903ns6:MotorVehicles2022-01-3107121903ns6:ComputerEquipment2022-01-3107121903ns6:PlantMachinery2021-01-3107121903ns6:FurnitureFittings2021-01-3107121903ns6:MotorVehicles2021-01-3107121903ns6:ComputerEquipment2021-01-3107121903ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-01-3107121903ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2021-01-31
REGISTERED NUMBER: 07121903 (England and Wales)














A & B Motors Limited

Unaudited Financial Statements

for the Year Ended 31 January 2022






A & B Motors Limited (Registered number: 07121903)






Contents of the Financial Statements
for the Year Ended 31 January 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A & B Motors Limited

Company Information
for the Year Ended 31 January 2022







DIRECTOR: A Goulding





SECRETARY:





REGISTERED OFFICE: 1 Old Reservoir Road
Portsmouth
Hampshire
PO6 1SU





REGISTERED NUMBER: 07121903 (England and Wales)





ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA

A & B Motors Limited (Registered number: 07121903)

Balance Sheet
31 January 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 69,492 68,028

CURRENT ASSETS
Stocks 20,978 23,490
Debtors 5 68,307 -
Cash at bank and in hand 204,676 199,205
293,961 222,695
CREDITORS
Amounts falling due within one year 6 92,540 42,353
NET CURRENT ASSETS 201,421 180,342
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,913

248,370

CREDITORS
Amounts falling due after more than one
year

7

48,333

50,000
NET ASSETS 222,580 198,370

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 222,578 198,368
222,580 198,370

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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.

A & B Motors Limited (Registered number: 07121903)

Balance Sheet - continued
31 January 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2022 and were signed by:





A Goulding - Director


A & B Motors Limited (Registered number: 07121903)

Notes to the Financial Statements
for the Year Ended 31 January 2022

1. STATUTORY INFORMATION

A & B Motors 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.

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 Statement of Income and Retained Earnings, 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2021 - 14 ) .

A & B Motors Limited (Registered number: 07121903)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2022

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2021 271,107 17,237 187,377 15,504 491,225
Additions 4,583 14,408 - 834 19,825
At 31 January 2022 275,690 31,645 187,377 16,338 511,050
DEPRECIATION
At 1 February 2021 241,876 17,237 148,580 15,504 423,197
Charge for year 8,453 - 9,699 209 18,361
At 31 January 2022 250,329 17,237 158,279 15,713 441,558
NET BOOK VALUE
At 31 January 2022 25,361 14,408 29,098 625 69,492
At 31 January 2021 29,231 - 38,797 - 68,028

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 68,307 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 16,531 (1 )
Taxation 17,258 33,104
Social security and other taxes 9,168 -
VAT 27,999 8,372
Other creditors 252 -
Directors' current accounts 878 878
Accrued expenses 20,454 -
92,540 42,353

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans more 5 yr by instal 48,333 50,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 48,333 50,000