IRIS Accounts Production v22.1.4.3 05546861 Board of Directors Board of Directors 1.4.21 31.3.22 31.3.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure055468612021-03-31055468612022-03-31055468612021-04-012022-03-31055468612020-03-31055468612020-04-012021-03-31055468612021-03-3105546861ns16:EnglandWales2021-04-012022-03-3105546861ns15:PoundSterling2021-04-012022-03-3105546861ns11:Director12021-04-012022-03-3105546861ns11:Director22021-04-012022-03-3105546861ns11:PrivateLimitedCompanyLtd2021-04-012022-03-3105546861ns11:SmallEntities2021-04-012022-03-3105546861ns11:AuditExempt-NoAccountantsReport2021-04-012022-03-3105546861ns11:SmallCompaniesRegimeForDirectorsReport2021-04-012022-03-3105546861ns11:SmallCompaniesRegimeForAccounts2021-04-012022-03-3105546861ns11:FullAccounts2021-04-012022-03-3105546861ns11:CompanySecretary12021-04-012022-03-3105546861ns11:RegisteredOffice2021-04-012022-03-3105546861ns6:CurrentFinancialInstruments2022-03-3105546861ns6:CurrentFinancialInstruments2021-03-3105546861ns6:Non-currentFinancialInstruments2022-03-3105546861ns6:Non-currentFinancialInstruments2021-03-3105546861ns6:ShareCapital2022-03-3105546861ns6:ShareCapital2021-03-3105546861ns6:RetainedEarningsAccumulatedLosses2022-03-3105546861ns6:RetainedEarningsAccumulatedLosses2021-03-3105546861ns6:PlantMachinery2021-04-012022-03-3105546861ns6:PlantMachinery2021-03-3105546861ns6:PlantMachinery2022-03-3105546861ns6:PlantMachinery2021-03-3105546861ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3105546861ns6:WithinOneYearns6:CurrentFinancialInstruments2021-03-31
REGISTERED NUMBER: 05546861 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

CORRY MOTORS SERVICES LIMITED

CORRY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 05546861)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORRY MOTORS SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: N P Turnbull
Mrs E E Turnbull





SECRETARY: Mrs E E Turnbull





REGISTERED OFFICE: 2 Dancastle Court
14 Arcadia Avenue
London
N3 2JU





REGISTERED NUMBER: 05546861 (England and Wales)





ACCOUNTANTS: Harford Michaels Kaye Limited
Chartered Certified Accountants
2 Dancastle Court
14 Arcadia Avenue
London
N3 2JU

CORRY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 05546861)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 27,223 35,756

CURRENT ASSETS
Stocks 52,032 59,693
Debtors 5 27,019 11,530
Cash at bank 84,573 80,833
163,624 152,056
CREDITORS
Amounts falling due within one year 6 (85,879 ) (85,177 )
NET CURRENT ASSETS 77,745 66,879
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,968

102,635

CREDITORS
Amounts falling due after more than one
year

7

(32,810

)

(44,427

)

PROVISIONS FOR LIABILITIES (5,129 ) (6,740 )
NET ASSETS 67,029 51,468

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 66,929 51,368
SHAREHOLDERS' FUNDS 67,029 51,468

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

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 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.

CORRY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 05546861)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 13 September 2022 and were signed on its behalf by:




N P Turnbull - Director



Mrs E E Turnbull - Director


CORRY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 05546861)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Corry Motors Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared in accordance with the Companies Act 2006 and applicable Accounting Standards.

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 etc - 25% 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.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets or liabilities like trade debtors, other debtors, trade creditors and other creditors, loans from banks or other third parties and loans to/from related parties.

Debt instruments that constitute a financing transaction are initially measured at fair value of future payments and subsequently at amortised cost using the effective interest method. Debt instruments which are payable or receivable within one year such as trade debtors or trade creditors are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

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 the profit & loss account.

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.


CORRY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 05546861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 108,045
Additions 540
At 31 March 2022 108,585
DEPRECIATION
At 1 April 2021 72,289
Charge for year 9,073
At 31 March 2022 81,362
NET BOOK VALUE
At 31 March 2022 27,223
At 31 March 2021 35,756

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 22,285 6,693
Other debtors 4,734 4,837
27,019 11,530

CORRY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 05546861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,095 7,500
Hire purchase contracts 1,927 11,563
Trade creditors 32,510 36,290
Taxation and social security 37,347 25,824
Other creditors 4,000 4,000
85,879 85,177

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 32,810 42,500
Hire purchase contracts - 1,927
32,810 44,427