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Registered Number: 05902973
England and Wales

 

 

 

KINGSBURY AUTOCARE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2021

End date: 31 December 2021
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of KINGSBURY AUTOCARE LTD for the year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of KINGSBURY AUTOCARE LTD for the year ended 31 December 2021 which comprise of 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 company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of KINGSBURY AUTOCARE LTD , as a body, in accordance with the terms of our engagement letter dated 13 September 2022. Our work has been undertaken solely to prepare for your approval the accounts of KINGSBURY AUTOCARE LTD and state those matters that we have agreed to state to the Board of Directors of KINGSBURY AUTOCARE LTD , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KINGSBURY AUTOCARE LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that KINGSBURY AUTOCARE LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of KINGSBURY AUTOCARE LTD . You consider that KINGSBURY AUTOCARE LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of KINGSBURY AUTOCARE LTD . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 December 2021



....................................................
PHS Associates Acc & Co Ltd
223 St Albans Road
Watford
WD24 5BH
13 September 2022
1
 
 
Notes
 
2021
£
  2020
£
Fixed assets      
Tangible fixed assets 11,737    19,100 
Investments 355,000    355,000 
366,737    374,100 
Current assets      
Stocks 10,100    11,700 
Debtors: amounts falling due within one year 12,259    11,560 
Cash at bank and in hand 2,418    2,455 
24,777    25,715 
Creditors: amount falling due within one year (124,756)   (56,723)
Net current liabilities (99,979)   (31,008)
 
Total assets less current liabilities 266,758    343,092 
Creditors: amount falling due after more than one year (127,292)   (198,772)
Net assets 139,466    144,320 
 

Capital and reserves
     
Called up share capital 500    500 
Profit and loss account 138,966    143,820 
Shareholder's funds 139,466    144,320 
 


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

Directors' 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 board of directors on 13 September 2022 and were signed on its behalf by:


--------------------------------
Yatagama Gamage AMARADASA
Director
2
General Information
KINGSBURY AUTOCARE LTD is a private company, limited by shares, registered in England and Wales, registration number 05902973, registration address Unit H, 2-10, London, England - London, NW9 0HN

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 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
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
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:
Computer Equipment 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
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.

Directors' Emoluments

     

3.

Staff Costs

     

4.

Average number of employees

Average number of employees during the year was 8 (2020 : 7).
5.

Tangible fixed assets

Cost or valuation Computer Equipment   Plant and Machinery   Fixtures and Fittings   Motor Vehicles   Total
  £   £   £   £   £
At 01 January 2021 12,642    4,250    96,767    31,400    145,059 
Additions        
Disposals        
At 31 December 2021 12,642    4,250    96,767    31,400    145,059 
Depreciation
At 01 January 2021 8,792    3,188    94,142    20,900    127,022 
Charge for year 1,925      875    3,500    6,300 
On disposals        
At 31 December 2021 10,717    3,188    95,017    24,400    133,322 
Net book values
Closing balance as at 31 December 2021 1,925    1,062    1,750    7,000    11,737 
Opening balance as at 01 January 2021 3,850    2,125    2,625    10,500    19,100 


6.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2021 355,000    355,000 
Additions  
Transfer to/from Tangible fixed assets  
Disposals  
At 31 December 2021 355,000    355,000 

7.

Share Capital

Allotted, called up and fully paid
2021
£
  2020
£
500 Class A shares of £1.00 each 500    500 
500    500 

8.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2021
£
 2020
£
 2021
£
 2020
£
Queensbury Hospital ( pvt ) Ltd355,000 355,000 

3