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REGISTERED NUMBER: 06815591















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

AUTOBITZ INTERNATIONAL LTD

AUTOBITZ INTERNATIONAL LTD (Registered number: 06815591)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Report of the Directors 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 5


AUTOBITZ INTERNATIONAL LTD

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S SMITH
MRS S SMITH





SECRETARY: MERLIN BUSINESS SERVICES UK LTD





REGISTERED OFFICE: Staffordshire Knot
Pinfold Street
Darlaston
West Midlands
WS10 8TE





REGISTERED NUMBER: 06815591






AUTOBITZ INTERNATIONAL LTD (Registered number: 06815591)

Report of the Directors
for the Year Ended 31 March 2023

The directors present their report with the financial statements of the company for the year ended 31 March 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

S SMITH
MRS S SMITH

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S SMITH - Director


1 October 2023

AUTOBITZ INTERNATIONAL LTD (Registered number: 06815591)

Statement of Income and Retained Earnings
for the Year Ended 31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   

TURNOVER 661,090 960,384

Cost of sales 573,341 724,058
GROSS PROFIT 87,749 236,326

Distribution costs 2,601 3,942
Administrative expenses 65,862 56,226
68,463 60,168
19,286 176,158

Other operating income - 17,999
OPERATING PROFIT and
PROFIT BEFORE TAXATION 19,286 194,157

Tax on profit 3,664 36,890
PROFIT FOR THE FINANCIAL YEAR 15,622 157,267

Retained earnings at beginning of year 162,740 61,473

Dividends 4 - (56,000 )

RETAINED EARNINGS AT END OF YEAR 178,362 162,740

AUTOBITZ INTERNATIONAL LTD (Registered number: 06815591)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,000 6,000

CURRENT ASSETS
Stocks 76,000 2,000
Cash at bank and in hand 114,767 208,330
190,767 210,330
CREDITORS
Amounts falling due within one year 6 18,403 53,588
NET CURRENT ASSETS 172,364 156,742
TOTAL ASSETS LESS CURRENT LIABILITIES 178,364 162,742

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 178,362 162,740
SHAREHOLDERS' FUNDS 178,364 162,742

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

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

The directors acknowledge their 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2023 and were signed on its behalf by:





S SMITH - Director


AUTOBITZ INTERNATIONAL LTD (Registered number: 06815591)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

AUTOBITZ INTERNATIONAL LTD is a private company, limited by shares , registered in Not specified/Other. 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.
Plant and machinery etc - 25% on 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.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 4 ) .

4. DIVIDENDS
31/3/23 31/3/22
£    £   
ORDINARY shares of 1.00 each
Final - 56,000

AUTOBITZ INTERNATIONAL LTD (Registered number: 06815591)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 22,290
DEPRECIATION
At 1 April 2022
and 31 March 2023 16,290
NET BOOK VALUE
At 31 March 2023 6,000
At 31 March 2022 6,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade creditors 6 3
Tax 3,664 38,512
VAT 12,503 11,068
Directors' current accounts 980 2,755
Accrued expenses 1,250 1,250
18,403 53,588