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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
Page
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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
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Brian Lowe Automobiles Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
19,566 
29,774 
Investment property
1,500,000 
1,500,000 
1,519,566 
1,529,774 
Current assets
Debtors
- 
70,000 
Cash at bank and in hand
85,235 
12,792 
85,235 
82,792 
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 
Capital and reserves
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
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Brian Lowe Automobiles Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
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 taxation
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
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:
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Brian Lowe Automobiles Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 April 2022
30,625 
At 31 March 2023
30,625 
Depreciation
At 1 April 2022
851 
Charge for the year
10,208 
At 31 March 2023
11,059 
Net book value
At 31 March 2023
19,566 
At 31 March 2022
29,774 
5
Investment property
2023 
£ 
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.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
70,000 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
8,659 
4,283 
Loans from directors
398 
- 
Accruals
3,734 
1,280 
12,791 
5,563 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
18,554 
21,170 
Loans from directors
- 
11,109 
18,554 
32,279 
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Brian Lowe Automobiles Limited Notes to the Accounts for the year ended 31 March 2023
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
James Lowe
35,000 
- 
35,000 
- 
Benjamin Lowe
35,000 
- 
35,000 
- 
70,000 
- 
70,000 
- 
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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