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REGISTERED NUMBER: 02703350 (England and Wales)















COUNTY MOTORS SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH MARCH 2023






COUNTY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 02703350)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH MARCH 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


COUNTY MOTORS SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH MARCH 2023







DIRECTOR: Mr M Iqbal





SECRETARY: Mr M Nocivelli





REGISTERED OFFICE: 16 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
South Glamorgan
CF14 5GF





REGISTERED NUMBER: 02703350 (England and Wales)





ACCOUNTANTS: Johns Jones & Lo Limited
Chartered Accountants & Registered Auditors
16 Lambourne Crescent
Cardiff Business Park
Llanishen
Cardiff
CF14 5GF

COUNTY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 02703350)

BALANCE SHEET
30TH MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,117 48,124

CURRENT ASSETS
Debtors 5 20,953 13,194
Cash at bank and in hand 17,364 53,984
38,317 67,178
CREDITORS
Amounts falling due within one year 6 66,468 105,078
NET CURRENT LIABILITIES (28,151 ) (37,900 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,966

10,224

CREDITORS
Amounts falling due after more than one
year

7

(37,766

)

(50,738

)

PROVISIONS FOR LIABILITIES 9 (2,367 ) (2,138 )
NET LIABILITIES (21,167 ) (42,652 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (21,169 ) (42,654 )
SHAREHOLDERS' FUNDS (21,167 ) (42,652 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th March 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.

COUNTY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 02703350)

BALANCE SHEET - continued
30TH MARCH 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 15th November 2023 and were signed by:





Mr M Iqbal - Director


COUNTY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 02703350)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH MARCH 2023

1. STATUTORY INFORMATION

County Motors Services Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on reducing balance

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.

COUNTY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 02703350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH MARCH 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Going concern
The accounts have been prepared on a going concern basis as the director has pledged financial support for a period of at least one year from the date of signing the accounts.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 31st March 2022 83,631 117,012 40,800 9,967 251,410
Additions - 7,000 - - 7,000
At 30th March 2023 83,631 124,012 40,800 9,967 258,410
DEPRECIATION
At 31st March 2022 63,974 107,134 22,697 9,481 203,286
Charge for year 2,948 2,182 2,715 162 8,007
At 30th March 2023 66,922 109,316 25,412 9,643 211,293
NET BOOK VALUE
At 30th March 2023 16,709 14,696 15,388 324 47,117
At 30th March 2022 19,657 9,878 18,103 486 48,124

COUNTY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 02703350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH MARCH 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 31st March 2022
and 30th March 2023 26,348 40,800 67,148
DEPRECIATION
At 31st March 2022 15,989 22,697 38,686
Charge for year 1,554 2,715 4,269
At 30th March 2023 17,543 25,412 42,955
NET BOOK VALUE
At 30th March 2023 8,805 15,388 24,193
At 30th March 2022 10,359 18,103 28,462

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,863 2,987
Prepayments and accrued income 11,090 10,207
20,953 13,194

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,948 6,618
Hire purchase contracts 7,671 7,159
Trade creditors 14,355 21,426
Social security and other taxes 347 396
VAT 685 150
Other creditors 10,662 4,123
Directors' current accounts 10,022 55,906
Accruals and deferred income 9,778 9,300
66,468 105,078

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 37,766 42,203
Hire purchase contracts - 8,535
37,766 50,738

COUNTY MOTORS SERVICES LIMITED (REGISTERED NUMBER: 02703350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH MARCH 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 6,330 -
Bank loans 44,384 48,821
Hire purchase contracts 7,671 15,694
58,385 64,515

Bank borrowings and overdraft facilities are secured on the company's assets. Hire purchase liabilities are secured on the assets included in the agreement.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,367 2,138

Deferred
tax
£   
Balance at 31st March 2022 2,138
Provided during year 229
Balance at 30th March 2023 2,367

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th March 2023 and 30th March 2022:

2023 2022
£    £   
Mr M Iqbal
Balance outstanding at start of year (55,905 ) (107,144 )
Amounts advanced 49,001 51,239
Amounts repaid (3,118 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,022 ) (55,905 )

No interest has been charged on the loan above

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Iqbal.