K J AUTOMOTIVE LIMITED

Company Registration Number:
07623959 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2022

Period of accounts

Start date: 01 September 2021

End date: 31 August 2022

K J AUTOMOTIVE LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2022

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 10

K J AUTOMOTIVE LIMITED

Company Information

for the Period Ended 31 August 2022




Director: Karl Jordan
Registered office: 116
Spies Lane
Halesowen
West Midlands
England
B62 9SR
Company Registration Number: 07623959 (England and Wales)

K J AUTOMOTIVE LIMITED

Balance sheet

As at 31 August 2022


Notes

2022
£

2021
£
Fixed assets
Tangible assets: 5 1,948 3,011
Total fixed assets: 1,948 3,011
Current assets
Stocks: 1,563 880
Total current assets: 1,563 880
Creditors: amounts falling due within one year: 6 ( 14,796 ) ( 14,840 )
Net current assets (liabilities): ( 13,233 ) ( 13,960 )
Total assets less current liabilities: ( 11,285 ) ( 10,949 )
Total net assets (liabilities): ( 11,285 ) ( 10,949 )

The notes form part of these financial statements

K J AUTOMOTIVE LIMITED

Balance sheet continued

As at 31 August 2022


Notes

2022
£

2021
£
Capital and reserves
Called up share capital: 1 1
Profit and loss account: ( 11,286 ) ( 10,950 )
Shareholders funds: ( 11,285 ) ( 10,949 )

For the year ending 31 August 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 November 2023
And Signed On Behalf Of The Board By:

Name: Karl Jordan
Status: Director

The notes form part of these financial statements

K J AUTOMOTIVE LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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 policy

    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 cost

    Other accounting policies

    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 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.

K J AUTOMOTIVE LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2022

  • 2. Employees


    2022

    2021
    Average number of employees during the period 1 1

K J AUTOMOTIVE LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2022

  • 3. Off balance sheet disclosure

    No

K J AUTOMOTIVE LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2022

4. Dividends


2022
£

2021
£
Dividends paid 0 0

K J AUTOMOTIVE LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2022

5. Tangible Assets

Total
Cost £
At 01 September 2021 16,516
Additions -
Disposals -
Revaluations -
Transfers -
At 31 August 2022 16,516
Depreciation
At 01 September 2021 13,505
Charge for year 1,063
On disposals -
Other adjustments -
At 31 August 2022 14,568
Net book value
At 31 August 2022 1,948
At 31 August 2021 3,011

K J AUTOMOTIVE LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2022

6. Creditors: amounts falling due within one year note

The balance on K Jordan's directors loan account at the end of the year was £3,476 (2021: £3,084) due from the company. This amount is included within Creditors: Amounts falling due within one year.

K J AUTOMOTIVE LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2022

7.1. Loans to Directors

Name of director receiving advance or credit: Karl Jordan
Description of the transaction:
Amount owed by the company to the director, Mr K Jordan, in respect of his directors loan account
Balance at 01 September 2021 ( 3,084 )
Advances or credits made: ( 392 )
Balance at 31 August 2022 ( 3,476 )

The directors loan account for Mr K Jordan that is owed by the Company is included within Creditors: Amounts due within one year