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REGISTERED NUMBER: 04454805 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2022

FOR

EXPRESSLUBE (UK) LIMITED

EXPRESSLUBE (UK) LIMITED (REGISTERED NUMBER: 04454805)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXPRESSLUBE (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2022







DIRECTORS: C P Roos
Z A Roos





SECRETARY: PP Secretaries Limited





REGISTERED OFFICE: Cornelius House
178/180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 04454805 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

EXPRESSLUBE (UK) LIMITED (REGISTERED NUMBER: 04454805)

BALANCE SHEET
30TH JUNE 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,092 69,524

CURRENT ASSETS
Stocks 9,141 9,042
Debtors 5 27,387 82,435
Cash at bank 324,658 369,032
361,186 460,509
CREDITORS
Amounts falling due within one year 6 85,787 97,762
NET CURRENT ASSETS 275,399 362,747
TOTAL ASSETS LESS CURRENT
LIABILITIES

327,491

432,271

PROVISIONS FOR LIABILITIES 7 9,898 13,210
NET ASSETS 317,593 419,061

CAPITAL AND RESERVES
Called up share capital 105 105
Retained earnings 317,488 418,956
SHAREHOLDERS' FUNDS 317,593 419,061

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2022 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.

EXPRESSLUBE (UK) LIMITED (REGISTERED NUMBER: 04454805)

BALANCE SHEET - continued
30TH JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st September 2022 and were signed on its behalf by:




C P Roos - Director



Z A Roos - Director


EXPRESSLUBE (UK) LIMITED (REGISTERED NUMBER: 04454805)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2022

1. STATUTORY INFORMATION

Expresslube (UK) 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.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

Development in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure incurred while the development is progressing.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.


EXPRESSLUBE (UK) LIMITED (REGISTERED NUMBER: 04454805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2022

2. ACCOUNTING POLICIES - continued
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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stock is also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

Development stock is also assessed for impairment at each reporting date. The carrying amount is compared with its estimated selling price less costs to complete and sell. If a development is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

EXPRESSLUBE (UK) LIMITED (REGISTERED NUMBER: 04454805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2022

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st July 2021
and 30th June 2022 98,033 107,806 6,993 212,832
DEPRECIATION
At 1st July 2021 87,512 49,424 6,372 143,308
Charge for year 2,630 14,595 207 17,432
At 30th June 2022 90,142 64,019 6,579 160,740
NET BOOK VALUE
At 30th June 2022 7,891 43,787 414 52,092
At 30th June 2021 10,521 58,382 621 69,524

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 25,262 34,980
Other debtors 2,125 47,455
27,387 82,435

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 1,658 5,935
Taxation and social security 5,979 13,429
Other creditors 78,150 78,398
85,787 97,762

7. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax
Accelerated capital allowances 9,898 13,210

Deferred
tax
£   
Balance at 1st July 2021 13,210
Provided during year (3,312 )
Balance at 30th June 2022 9,898