2022-05-012023-04-302023-04-30false03862618JADE AUTOS 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JADE AUTOS LTD

Registered Number
03862618
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2023

JADE AUTOS LTD
Company Information
for the year from 1 May 2022 to 30 April 2023

Director

CHANA, Hardeep Singh

Registered Address

1 Gemini Court
42a Throwley Way,
Sutton
SM1 4AF

Registered Number

03862618 (England and Wales)
JADE AUTOS LTD
Statement of Financial Position
30 April 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5461179
461179
Current assets
Stocks779,59216,908
Debtors22,10867,234
Cash at bank and on hand18
101,70184,150
Creditors amounts falling due within one year9(77,189)(72,513)
Net current assets (liabilities)24,51211,637
Total assets less current liabilities24,97311,816
Net assets24,97311,816
Capital and reserves
Called up share capital11
Profit and loss account24,97211,815
Shareholders' funds24,97311,816
The financial statements were approved and authorised for issue by the Director on 7 November 2023, and are signed on its behalf by:
CHANA, Hardeep Singh
Director
Registered Company No. 03862618
JADE AUTOS LTD
Notes to the Financial Statements
for the year ended 30 April 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Vehicles25
Office Equipment25
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
4.Employee information

20232022
Average number of employees during the year22
5.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 May 221,1021,1504412,693
Additions--416416
At 30 April 231,1021,1508573,109
Depreciation and impairment
At 01 May 229481,1504162,514
Charge for year23-111134
At 30 April 239711,1505272,648
Net book value
At 30 April 23131-330461
At 30 April 22154-25179
6.Further information regarding the company's financial position
The company overdraft facility is secured by a directors personal guarantee of £14,000.
7.Stocks

2023

2022

££
Finished goods79,59216,908
Total79,59216,908
8.Debtors within one year

2023

2022

££
Trade debtors / trade receivables2,062534
Other debtors20,04666,700
Total22,10867,234
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables-297
Taxation and social security14,1825,627
Other creditors48,33159,701
Accrued liabilities and deferred income14,6766,888
Total77,18972,513