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REGISTERED NUMBER: 13206655 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

EJW AUTOS LIMITED

EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EJW AUTOS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: J P Waddell





REGISTERED OFFICE: 1 Ballard Business Park
Cuxton Road
Strood
Rochester
Kent
ME2 2NY





REGISTERED NUMBER: 13206655 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 194,297 18,220

CURRENT ASSETS
Stocks 921,014 301,611
Debtors 6 191,625 36,020
Cash at bank 397,533 133,740
1,510,172 471,371
CREDITORS
Amounts falling due within one year 7 1,413,234 425,062
NET CURRENT ASSETS 96,938 46,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

291,235

64,529

PROVISIONS FOR LIABILITIES 36,916 3,462
NET ASSETS 254,319 61,067

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 254,219 60,967
SHAREHOLDERS' FUNDS 254,319 61,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

BALANCE SHEET - continued
28 FEBRUARY 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 16 November 2023 and were signed by:





J P Waddell - Director


EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

EJW Autos 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. STATEMENT OF COMPLIANCE

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 presentation and disclosure requirements of Section 1A applicable to small companies, and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 net of VAT and trade discounts.The policies adopted for the recognition of turnover are as following:

- Sale of goods
Turnover from the sale of goods is recognised when all the following conditions are satisfied:
The entity has transferred to the buyer the significant risks and rewards of ownership of the goods;
The entity retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
The amount of revenue can be measured reliably;
It is probable that the economic benefits associated with the transaction will flow to the entity; and
The costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.


EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


3. ACCOUNTING POLICIES - continued
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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

Financial instruments
Basic financial assets/liabilities including trade and other receivables/payables, cash and bank balances, are initially recognised at transaction price unless the arrangement constitutes a financing transaction (loan over period of time) where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Such assets/liabilities are subsequently carried at amortised cost using the effective interest method.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 4 ) .

EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
Additions 144,321 32,020 17,850
At 28 February 2023 144,321 32,020 17,850
DEPRECIATION
At 1 March 2022 - - -
Charge for year 14,432 8,005 4,463
At 28 February 2023 14,432 8,005 4,463
NET BOOK VALUE
At 28 February 2023 129,889 24,015 13,387
At 28 February 2022 - - -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 20,000 4,293 24,293
Additions 6,000 11,788 211,979
At 28 February 2023 26,000 16,081 236,272
DEPRECIATION
At 1 March 2022 5,000 1,073 6,073
Charge for year 5,250 3,752 35,902
At 28 February 2023 10,250 4,825 41,975
NET BOOK VALUE
At 28 February 2023 15,750 11,256 194,297
At 28 February 2022 15,000 3,220 18,220

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,250 33,622
Other debtors 170,375 2,398
191,625 36,020

EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 230,775 280,304
Taxation and social security 114,225 48,470
Other creditors 1,068,234 96,288
1,413,234 425,062

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 28 February 2023 and the period ended 28 February 2022:

2023 2022
£    £   
J P Waddell
Balance outstanding at start of year (26,556 ) -
Amounts advanced 116,214 56,948
Amounts repaid (89,702 ) (83,504 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (44 ) (26,556 )

D H Waddell
Balance outstanding at start of year (26,556 ) -
Amounts advanced 56,173 52,087
Amounts repaid (29,617 ) (78,643 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (26,556 )

The loan from the director to the company is unsecured, interest free and repayable on demand.

9. RELATED PARTY DISCLOSURES

Included in other loans is a £1mn loan from a company in which the father of director Mr J P Waddell is a sole director and ultimate controlling party. The loan is unsecured, interest free and repayable on demand.

The company operates from a commercial property owned by a company in which the father of director Mr J P Waddell is a sole director and ultimate controlling party. No rent is charged to the company for the use of the property which has a market value rental yield of circa £72k per annum.