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REGISTERED NUMBER: 10556388 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

NORTON AUTOS LTD

NORTON AUTOS LTD (REGISTERED NUMBER: 10556388)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORTON AUTOS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: A Munir





SECRETARY:





REGISTERED OFFICE: 18 Norton Tower
Halifax
HX2 0NG





REGISTERED NUMBER: 10556388 (England and Wales)





ACCOUNTANTS: Southbrook Accountants Limited
14 Southbrook Terrace
Bradford
West Yorkshire
BD7 1AD

NORTON AUTOS LTD (REGISTERED NUMBER: 10556388)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,016 33,507

CURRENT ASSETS
Stocks 105,650 108,516
Debtors 5 397 -
Cash at bank and in hand 48,539 47,737
154,586 156,253
CREDITORS
Amounts falling due within one year 6 130,044 112,850
NET CURRENT ASSETS 24,542 43,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,558

76,910

CREDITORS
Amounts falling due after more than one
year

7

32,926

42,730
NET ASSETS 40,632 34,180

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 40,631 34,179
SHAREHOLDERS' FUNDS 40,632 34,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NORTON AUTOS LTD (REGISTERED NUMBER: 10556388)

BALANCE SHEET - continued
31 JANUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 October 2023 and were signed by:





A Munir - Director


NORTON AUTOS LTD (REGISTERED NUMBER: 10556388)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Norton Autos Ltd 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.

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.

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.
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

NORTON AUTOS LTD (REGISTERED NUMBER: 10556388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2022 6,789 33,678 1,658 42,125
Additions - 21,885 1,014 22,899
At 31 January 2023 6,789 55,563 2,672 65,024
DEPRECIATION
At 1 February 2022 2,916 4,210 1,492 8,618
Charge for year 581 6,419 390 7,390
At 31 January 2023 3,497 10,629 1,882 16,008
NET BOOK VALUE
At 31 January 2023 3,292 44,934 790 49,016
At 31 January 2022 3,873 29,468 166 33,507

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 397 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,070 7,210
Other creditors 128,974 105,640
130,044 112,850

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 32,926 42,730

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company made the following related party transactions:

Mr A Munir (Director)

At the balance sheet date the amount due to Mr A Munir was £127,474 (2022 - £104,139).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Munir.