Registered number
12204457
N D Brown (Vehicle Sales) Limited
Report and Unaudited Accounts
31 March 2023
Collins
Chartered Accountants
West Midlands
N D Brown (Vehicle Sales) Limited
Registered number: 12204457
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £ £ £
Current assets
Stocks 91,000 -
Debtors 3 614,178 417,112
Cash at bank and in hand 273,539 669,691
978,717 1,086,803
Creditors: amounts falling due within one year 4 (765,465) (385,027)
Net current assets 213,252 701,776
Net assets 213,252 701,776
Capital and reserves
Called up share capital 1 1
Profit and loss account 213,251 701,775
Shareholder's funds 213,252 701,776
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N D Brown
Director
Approved by the board on 18 August 2023
N D Brown (Vehicle Sales) Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover comprises revenue earned from the sale of goods, this is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are also recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are also recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors 259,160 417,112
Amounts owed by connected company 355,018 -
614,178 417,112
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 218,879 225,272
Corporation tax 117,630 100,211
Other taxes and social security costs 27,556 58,144
Directors loans 400,000 -
Accruals and deferred income 1,400 1,400
765,465 385,027
5 Related party transactions
During the year the company made loans to N D Brown Ltd a company in which N D Brown has a controlling interest. The loan was made on commercial terms.
6 Controlling party
The company is under the control of N D Brown
7 Other information
N D Brown (Vehicle Sales) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Slade Heath Garage
Old Stafford Road
Slade Heath
Wolverhampton
WV10 7 PD
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