IRIS Accounts Production v23.2.0.158 06582403 director 1.5.22 30.4.23 30.4.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure065824032022-04-30065824032023-04-30065824032022-05-012023-04-30065824032021-04-30065824032021-05-012022-04-30065824032022-04-3006582403ns16:EnglandWales2022-05-012023-04-3006582403ns15:PoundSterling2022-05-012023-04-3006582403ns11:Director12022-05-012023-04-3006582403ns11:PrivateLimitedCompanyLtd2022-05-012023-04-3006582403ns11:SmallEntities2022-05-012023-04-3006582403ns11:AuditExempt-NoAccountantsReport2022-05-012023-04-3006582403ns11:SmallCompaniesRegimeForDirectorsReport2022-05-012023-04-3006582403ns11:SmallCompaniesRegimeForAccounts2022-05-012023-04-3006582403ns11:FullAccounts2022-05-012023-04-3006582403ns11:OrdinaryShareClass12022-05-012023-04-3006582403ns11:RegisteredOffice2022-05-012023-04-3006582403ns6:CurrentFinancialInstruments2023-04-3006582403ns6:CurrentFinancialInstruments2022-04-3006582403ns6:Non-currentFinancialInstruments2023-04-3006582403ns6:Non-currentFinancialInstruments2022-04-3006582403ns6:ShareCapital2023-04-3006582403ns6:ShareCapital2022-04-3006582403ns6:RetainedEarningsAccumulatedLosses2023-04-3006582403ns6:RetainedEarningsAccumulatedLosses2022-04-3006582403ns6:PlantMachinery2022-05-012023-04-3006582403ns6:MotorVehicles2022-05-012023-04-3006582403ns6:ComputerEquipment2022-05-012023-04-3006582403ns6:PlantMachinery2022-04-3006582403ns6:MotorVehicles2022-04-3006582403ns6:ComputerEquipment2022-04-3006582403ns6:PlantMachinery2023-04-3006582403ns6:MotorVehicles2023-04-3006582403ns6:ComputerEquipment2023-04-3006582403ns6:PlantMachinery2022-04-3006582403ns6:MotorVehicles2022-04-3006582403ns6:ComputerEquipment2022-04-3006582403ns6:WithinOneYearns6:CurrentFinancialInstruments2023-04-3006582403ns6:WithinOneYearns6:CurrentFinancialInstruments2022-04-3006582403ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-04-3006582403ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-04-3006582403ns6:DeferredTaxation2022-04-3006582403ns6:DeferredTaxation2022-05-012023-04-3006582403ns6:DeferredTaxation2023-04-3006582403ns11:OrdinaryShareClass12023-04-30
REGISTERED NUMBER: 06582403 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

LOWERDALE AUTOS LIMITED

LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOWERDALE AUTOS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTOR: P Barrett





REGISTERED OFFICE: Taylor Row
Doncaster Road
Barnsley
South Yorkshire
S70 1HG





REGISTERED NUMBER: 06582403 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,425 24,205

CURRENT ASSETS
Stocks 5 173,626 167,732
Debtors 6 763 1,751
Cash at bank and in hand 22,028 27,032
196,417 196,515
CREDITORS
Amounts falling due within one year 7 141,885 160,136
NET CURRENT ASSETS 54,532 36,379
TOTAL ASSETS LESS CURRENT
LIABILITIES

75,957

60,584

CREDITORS
Amounts falling due after more than one
year

8

(21,679

)

(31,587

)

PROVISIONS FOR LIABILITIES 10 (4,071 ) (4,599 )
NET ASSETS 50,207 24,398

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 50,107 24,298
SHAREHOLDERS' FUNDS 50,207 24,398

LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)

BALANCE SHEET - continued
30 APRIL 2023


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

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

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 Profit & Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2023 and were signed by:





P Barrett - Director


LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Lowerdale 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.

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.

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.
Plant and machinery - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Office & computer equipment - 33% on cost

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 Profit & Loss Account and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 4 ) .

LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)

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

4. TANGIBLE FIXED ASSETS
Office &
Plant and Motor computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2022 21,503 23,243 7,056 51,802
Additions - - 791 791
At 30 April 2023 21,503 23,243 7,847 52,593
DEPRECIATION
At 1 May 2022 6,196 14,683 6,718 27,597
Charge for year 1,530 1,712 329 3,571
At 30 April 2023 7,726 16,395 7,047 31,168
NET BOOK VALUE
At 30 April 2023 13,777 6,848 800 21,425
At 30 April 2022 15,307 8,560 338 24,205

5. STOCKS
2023 2022
£    £   
Stocks 173,626 167,732

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 763 1,751

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 38,903 9,600
Trade creditors 1,514 8,275
Tax 9,587 11,817
VAT 7,919 9,047
Other creditors 566 754
Customer deposits 28,954 41,996
Directors' current accounts 51,372 76,188
Accrued expenses 3,070 2,459
141,885 160,136

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) 21,679 31,587

LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)

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

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 29,103 -
Bank loans 9,800 9,600
38,903 9,600

Amounts falling due between one and two years:
Bank loans > 1 year 21,679 31,587

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 4,071 4,599

Deferred
tax
£   
Balance at 1 May 2022 4,599
Provided during year (528 )
Balance at 30 April 2023 4,071

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. RELATED PARTY DISCLOSURES

During the year the company paid rent of £14,300 (£25,775 : 2022) to the Directors. This was done under normal commercial terms.

13. ULTIMATE CONTROLLING PARTY

The controlling party is P Barrett.