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Registered Number: 11211863
England and Wales

 

 

 


Filleted Accounts

for the year ended 28 February 2023

for

AAUK SELF DRIVE LTD

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 5,600    6,000 
Tangible fixed assets 4 853,040    160,259 
858,640    166,259 
Current assets      
Debtors 5 1,215    43,325 
Cash at bank and in hand 3,244    2,433 
4,459    45,758 
Creditors: amount falling due within one year 6 (43,211)   (31,413)
Net current liabilities (38,752)   14,345 
 
Total assets less current liabilities 819,888    180,604 
Creditors: amount falling due after more than one year 7 (679,554)   (119,656)
Provisions for liabilities 8 (74,341)   (30,015)
Net assets 65,993    30,933 
 

Capital and reserves
     
Called up share capital 9 1    1 
Profit and loss account 65,992    30,932 
Shareholder's funds 65,993    30,933 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 financial statements were approved by the director on 08 November 2023 and were signed by:


-------------------------------
Soraya Akram
Director
1
General Information
AAUK Self Drive Ltd is a private company, limited by shares, registered in England and Wales, registration number 11211863, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

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.
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.
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 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:
Motor Vehicles 15% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 10 (2022 : 6).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 March 2022 7,200    7,200 
Additions  
Disposals  
At 28 February 2023 7,200    7,200 
Amortisation
At 01 March 2022 1,200    1,200 
Charge for year 400    400 
On disposals  
At 28 February 2023 1,600    1,600 
Net book values
At 28 February 2023 5,600    5,600 
At 28 February 2022 6,000    6,000 


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 March 2022 199,762    4,009    203,771 
Additions 811,444    57,187    868,631 
Disposals (59,439)     (59,439)
At 28 February 2023 951,767    61,196    1,012,963 
Depreciation
At 01 March 2022 44,798    1,002    45,800 
Charge for year 113,371    752    114,123 
On disposals    
At 28 February 2023 158,169    1,754    159,923 
Net book values
Closing balance as at 28 February 2023 793,598    59,442    853,040 
Opening balance as at 01 March 2022 157,252    3,007    160,259 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 1,215    42,110 
Other Debtors   1,215 
1,215    43,325 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Bank Loans & Overdrafts 1,828    1,828 
PAYE & Social Security 248   
Accrued Expenses 1,835    1,835 
Wages & Salaries Control Account   10,601 
Directors' Current Accounts 25,438    15,550 
VAT 13,862    1,599 
43,211    31,413 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 55,995    55,995 
Obligations Under HP/Financial Leases 623,559    63,661 
679,554    119,656 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 74,341    30,015 
74,341    30,015 

9.

Share Capital

Authorised
1 Ordinary share of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
1 Ordinary share of £1.00 each  
 

2