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Draft
F.S.MOTORS LIMITED
Registered Number:07228052
For the year ended 31 March 2022
England and Wales
Report of the Directors and Unaudited Financial Statements
2
Draft
For the year ended 31 March 2022
F.S.MOTORS LIMITED
Contents Page
Company Information
1
2
Directors' Report
3
Independent Accountants' Report
4
Income Statement
5
Statement of Financial Position
6 to 7
Notes to the Financial Statements
3
Draft
For the year ended 31 March 2022
F.S.MOTORS LIMITED
Company Information
UMER BIN SALEEM
Directors
MOHAMMAD FAISAL SALEEM
MOHAMMAD HARIS
YASIR SALEEM
07228052
Registered Number
46 LEGRACE AVENUE
Registered Office
HOUNSLOW
MIDDLESEX
TW4 7RS
AHMED & CO
Accountants
10 WEST CLOSE
WEMBLEY PARK
MIDDLESEX
HA9 9PJ
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4
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For the year ended 31 March 2022
F.S.MOTORS LIMITED
Directors' Report
The director presents his report and accounts for the year ended 31 March 2022.
Principal activities
The principal activity of the company continued to be that of buying and selling second hand cars,
Directors
The director who served the company throughout the year was as follows:
UMER BIN SALEEM
MOHAMMAD FAISAL SALEEM
MOHAMMAD HARIS
YASIR SALEEM
UMER BIN SALEEM
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Date:
04 September 2022
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5
Draft
For the year ended 31 March 2022
F.S.MOTORS LIMITED
Independent Accountants' Report
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements
for the year ended 31 March 2022 and you consider that the company is exempt from an audit under the Companies
Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to
assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations
supplied to us.
AHMED & CO
10 WEST CLOSE
WEMBLEY PARK
MIDDLESEX
HA9 9PJ
Date:
04 September 2022
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6
Draft
For the year ended 31 March 2022
F.S.MOTORS LIMITED
Income Statement
2021
£
2022
£
Turnover
16,043,587
14,231,741
(13,039,651)
Cost of sales
(14,708,325)
1,192,090
Gross profit
1,335,262
Administrative expenses
(224,246)
(212,642)
Other operating income
2,519
71,313
Operating profit
1,113,535
1,050,761
1,113,535
1,050,761
Profit before taxation
(211,591)
(184,730)
Taxation
901,944
Profit for the financial year
866,031
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Registered Number :
07228052
As at 31 March 2022
F.S.MOTORS LIMITED
Statement of Financial Position
Restated
£
£
2021
2022
Notes
Fixed assets
Property, plant and equipment
2,001,541
2,001,641
3
2,001,541
2,001,641
Current assets
Inventories
-
88,400
Trade and other receivables
3,062,049
3,887,103
4
218,585
Cash and cash equivalents
1,010
3,976,513
3,280,634
Trade and other payables: amounts falling due within one
year
(299,724)
(304,679)
5
2,980,910
3,671,834
Net current assets
Total assets less current liabilities
5,673,375
4,982,551
Trade and other payables: amounts falling due after more
than one year
-
(1)
5,673,374
Net assets
4,982,551
Capital and reserves
Retained earnings
5,673,374
4,982,551
5,673,374
4,982,551
Shareholders' funds
For the year ended 31 March 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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 in accordance with the provisions applicable to companies subject to the small companies regime.
UMER BIN SALEEM
These financial statements were approved and authorised for issue by the Board on 04 September 2022 and were signed by:
The notes form part of these financial statements
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For the year ended 31 March 2022
F.S.MOTORS LIMITED
Notes to the Financial Statements
Statutory Information
F.S.MOTORS LIMITED is a private limited company, limited by shares, domiciled in England and Wales, registration
number 07228052.
Registered address:
46 LEGRACE AVENUE
HOUNSLOW
MIDDLESEX
TW4 7RS
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
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:
20 Straight line
Computer equipment
20 Straight line
Fixtures and fittings
Inventories
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. Debtors include amounts recoverable on long term contracts which are stated at the net sales value of the work done after provision for contingencies and any anticipated future losses on contracts, less amounts received as progress payments on account. Any excess progress payments are included in creditors as payments on account.
2. Dividends
2021
2022
£
£
Dividend on equity instruments:
Paid in the year
-
(75,000)
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For the year ended 31 March 2022
F.S.MOTORS LIMITED
Notes to the Financial Statements Continued
3. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Land and
buildings
£
£
£
£
Cost or
valuation
At 01 April 2021
2,006,379
3,207
2,331
2,000,841
At 31 March 2022
2,000,841
2,331
3,207
2,006,379
Provision for depreciation and impairment
At 01 April 2021
4,738
2,807
1,931
-
Charge for year
100
50
50
-
At 31 March 2022
4,838
2,857
1,981
-
At 31 March 2022
Net book value
2,000,841
350
350
2,001,541
At 31 March 2021
2,000,841
400
400
2,001,641
4. Trade and other receivables
2021
2022
£
£
Trade debtors
2,804,988
2,115,036
Other debtors
1,082,115
947,013
3,062,049
3,887,103
The debtors above include the following amounts falling due after more than one year:
Other debtors
444,945
496,253
5. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Trade creditors
-
1
Taxation and social security
211,591
184,730
Other creditors
93,088
114,993
304,679
299,724
6. Average number of persons employed
During the year the average number of employees was 6 (2021 : 6)
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