Company Registration No. 1226492 (England and Wales)
Brian Lowe Automobiles Limited
Unaudited accounts
for the year ended 31 March 2023
Brian Lowe Automobiles Limited
Unaudited accounts
Contents
Brian Lowe Automobiles Limited
Company Information
for the year ended 31 March 2023
Directors
James Lowe
Benjamin Lowe
Company Number
1226492 (England and Wales)
Registered Office
17 Davis Road
Weybridge
KT13 0XH
United Kingdom
Accountants
Simply Accountants
54, Hundred Acres Lane,
Hundred Acres Lane
Amersham
Buckinghamshire
HP7 9BX
Brian Lowe Automobiles Limited
Statement of financial position
as at 31 March 2023
Tangible assets
19,566
29,774
Investment property
1,500,000
1,500,000
Cash at bank and in hand
85,235
12,792
Creditors: amounts falling due within one year
(12,791)
(5,563)
Net current assets
72,444
77,229
Total assets less current liabilities
1,592,010
1,607,003
Creditors: amounts falling due after more than one year
(18,554)
(32,279)
Provisions for liabilities
Deferred tax
(337,644)
(337,644)
Net assets
1,235,812
1,237,080
Called up share capital
100
100
Revaluation reserve
1,012,931
1,012,931
Profit and loss account
222,781
224,049
Shareholders' funds
1,235,812
1,237,080
For the year ending 31 March 2023 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by
James Lowe
Director
Company Registration No. 1226492
Brian Lowe Automobiles Limited
Notes to the Accounts
for the year ended 31 March 2023
Brian Lowe Automobiles Limited is a private company, limited by shares, registered in England and Wales, registration number 1226492. The registered office is 17 Davis Road, Weybridge, KT13 0XH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover represents rental income from investment properties.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Brian Lowe Automobiles Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Motor vehicles
Charge for the year
10,208
Fair value at 1 April 2022
1,500,000
At 31 March 2023
1,500,000
Investment properties were valued on an open market by the directors.
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
8,659
4,283
Loans from directors
398
-
8
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
-
11,109
Brian Lowe Automobiles Limited
Notes to the Accounts
for the year ended 31 March 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).