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Logo On Report
Registered Number: 06437093
England and Wales

 

 

 

G. T. MOTORS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2021

End date: 29 September 2022
Directors Jatinder Singh
Sandeep Kaur
Registered Number 06437093
Registered Office 11 Deakins Road
Haymills
Birmingham
B25 8DX
1
  2022   2021
    £ £   £ £
Fixed assets   577,129      163,749 
Current assets 32,866      273,322   
Creditors: amount falling due within one year (203,246)     (44,366)  
Net current liabilities   (170,380)     228,956 
Total assets less current liabilities   406,749      392,705 
Provisions for liabilities       (269)
Net assets   406,749      392,436 
 

         
Capital and reserves   406,749      392,436 
 
NOTES TO THE ACCOUNTS

General Information
G. T. Motors Limited is a private company, limited by shares, registered in England and Wales, registration number 06437093, registration address 11 Deakins Road, Haymills, Birmingham, B25 8DX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – 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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.
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:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
2.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 June 2021 160,000    6,850    3,700    24,600    195,150 
Additions 414,317          414,317 
Disposals        
At 29 September 2022 574,317    6,850    3,700    24,600    609,467 
Depreciation
At 01 June 2021   5,385    3,469    22,547    31,401 
Charge for period   366    58    513    937 
On disposals        
At 29 September 2022   5,751    3,527    23,060    32,338 
Net book values
Closing balance as at 29 September 2022 574,317    1,099    173    1,540    577,129 
Opening balance as at 01 June 2021 160,000    1,465    231    2,053    163,749 


3.

Average number of employees

Average number of employees during the period was 3 (2021 : 3).


For the period ended 29 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' Responsibilities:
The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.

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 accounts have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 17 October 2023 and were signed on its behalf by:


--------------------------------
Jatinder Singh
Director
2