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Registered Number: 08353080
England and Wales

 

 

 

JAT CARS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 January 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Thieme and Company
31 January 2023



....................................................
Thieme and Company
18 Thorne Road
Doncaster
DN1 2HS
18 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 31    47 
31    47 
Current assets      
Stocks 479,009    699,679 
Debtors 1,120,876    1,239,100 
Investments 22,948    22,948 
Cash at bank and in hand 272,167    737,771 
1,895,000    2,699,498 
Creditors: amount falling due within one year (1,015,588)   (1,926,896)
Net current assets 879,412    772,602 
 
Total assets less current liabilities 879,443    772,649 
Net assets 879,443    772,649 
 

Capital and reserves
     
Called up share capital 5 50,000    50,000 
Profit and loss account 829,443    722,649 
Shareholder's funds 879,443    772,649 
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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 financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 18 October 2023 and were signed on its behalf by:


-------------------------------
Joseph Tang
Director
2
General Information
JAT Cars Ltd is a private company, limited by shares, registered in England and Wales, registration number 08353080, registration address 5 Clough House Court, Birkby, Huddersfield, HD2 2SY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – 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
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 0 years.
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:
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 3).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 February 2022 21,000    21,000 
Additions  
Disposals  
At 31 January 2023 21,000    21,000 
Amortisation
At 01 February 2022 21,000    21,000 
Charge for year  
On disposals  
At 31 January 2023 21,000    21,000 
Net book values
At 31 January 2023  
At 31 January 2022  


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 February 2022 813    813 
Additions  
Disposals  
At 31 January 2023 813    813 
Depreciation
At 01 February 2022 766    766 
Charge for year 16    16 
On disposals  
At 31 January 2023 782    782 
Net book values
Closing balance as at 31 January 2023 31    31 
Opening balance as at 01 February 2022 47    47 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
50,000 Class A shares of £1.00 each 50,000    50,000 
50,000    50,000 

3