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REGISTERED NUMBER: 13063338 (England and Wales)















Unaudited Financial Statements

for the Period 4 December 2020 to 31 December 2021

for

M.S. Lusardi Motors Limited

M.S. Lusardi Motors Limited (Registered number: 13063338)






Contents of the Financial Statements
for the Period 4 December 2020 to 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M.S. Lusardi Motors Limited

Company Information
for the Period 4 December 2020 to 31 December 2021







DIRECTOR: Mr M Ramadan





REGISTERED OFFICE: 130a Darkes Lane
Potters Bar
Hertfordshire
EN6 1AF





REGISTERED NUMBER: 13063338 (England and Wales)





ACCOUNTANTS: M Georghiades & Associates
Chartered Certified Accountants
130A Darkes Lane
Potters Bar
Hertfordshire
EN6 1AF

M.S. Lusardi Motors Limited (Registered number: 13063338)

Balance Sheet
31 December 2021

Notes £    £   
FIXED ASSETS
Tangible assets 4 31,551

CURRENT ASSETS
Stocks 5 3,750
Debtors 6 1,317
Cash at bank and in hand 44,654
49,721
CREDITORS
Amounts falling due within one year 7 42,535
NET CURRENT ASSETS 7,186
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,737

PROVISIONS FOR LIABILITIES 8 5,679
NET ASSETS 33,058

CAPITAL AND RESERVES
Called up share capital 9 100
Retained earnings 10 32,958
SHAREHOLDERS' FUNDS 33,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2021 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 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 director and authorised for issue on 2 September 2022 and were signed by:



Mr M Ramadan - Director


M.S. Lusardi Motors Limited (Registered number: 13063338)

Notes to the Financial Statements
for the Period 4 December 2020 to 31 December 2021

1. STATUTORY INFORMATION

M.S. Lusardi 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.
Long leasehold - In accordance with the lease term
Fixtures and fittings - 25% on reducing balance

The lease it is amortised over its lease terms, currently being 15 years from the acquisition date.

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 period 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

M.S. Lusardi Motors Limited (Registered number: 13063338)

Notes to the Financial Statements - continued
for the Period 4 December 2020 to 31 December 2021

4. TANGIBLE FIXED ASSETS
Fixtures
Long and
leasehold fittings Totals
£    £    £   
COST
Additions 30,000 4,734 34,734
At 31 December 2021 30,000 4,734 34,734
DEPRECIATION
Charge for period 2,000 1,183 3,183
At 31 December 2021 2,000 1,183 3,183
NET BOOK VALUE
At 31 December 2021 28,000 3,551 31,551

5. STOCKS
£   
Stocks 3,750

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
PAYE & NIC overpayment 1,317

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 7,395
Tax 8,699
VAT 3,247
Directors' current accounts 20,244
Accrued expenses 2,950
42,535

8. PROVISIONS FOR LIABILITIES
£   
Deferred tax
Accelerated capital allowances 5,679

Deferred
tax
£   
Provided during period 5,679
Balance at 31 December 2021 5,679

M.S. Lusardi Motors Limited (Registered number: 13063338)

Notes to the Financial Statements - continued
for the Period 4 December 2020 to 31 December 2021

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1.00 100

100 Ordinary shares of £1.00 each were allotted and fully paid for cash at par during the period.

10. RESERVES
Retained
earnings
£   

Profit for the period 32,958
At 31 December 2021 32,958

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 December 2021:

£   
Mr M Ramadan
Balance outstanding at start of period -
Amounts advanced (20,244 )
Amounts repaid -
Amounts written off -
Amounts waived -
Balance outstanding at end of period (20,244 )

At the year end the director of the company was owed the total sum of £20,244. This amount was lend to the company by the director interest free and without any other repayment terms attached to it. The director will not be requesting a repayment in the next twelve months.

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with its directors and other related entities.

13. POST BALANCE SHEET EVENTS

There have not been any significant events since the balance sheet date.
There were no essential either adjusting events or non-adjusting events in the period of time elapsing between the balance sheet date and the date on which these financial statements are prepared. The impact of COVID-19 is described in the Going Concern Consideration Note.

The ongoing Russia - Ukraine conflict - This ongoing conflict has resulted in going concern becoming a significant risk. The United States and Europe have avoided direct military conflict with Russia amid its conflict with Ukraine. They have however used a set of financial sanctions to limit Russia's access to financial resources. The impact of the sanctions may result in difficulties for the company to operate. Neither M.S. Lusardi Motors Limited nor the owners are currently on the sanctions list at the time of this report, however this may change as the situation changes.

M.S. Lusardi Motors Limited (Registered number: 13063338)

Notes to the Financial Statements - continued
for the Period 4 December 2020 to 31 December 2021

14. GOING CONCERN CONSIDERATION

The Company's management does not see a severe impact of COVID-19 outbreak to its activity. The Company tested the financial impact on the following areas of financial statements that can be affected:
- Breach of trade contracts
- Revenue
- Cost of sales
- Inventories fair value measurements
- Debt repayment