Registered number
09993306
ASH AUTO LIMITED
Filleted Accounts
28 February 2023
ASH AUTO LIMITED
Registered number: 09993306
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 908 1,135
Current assets
Stocks 34,493 31,250
Cash at bank and in hand 53,782 71,161
88,275 102,411
Creditors: amounts falling due within one year 4 (43,031) (54,489)
Net current assets 45,244 47,922
Total assets less current liabilities 46,152 49,057
Creditors: amounts falling due after more than one year 5 (39,897) (46,083)
Net assets 6,255 2,974
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,155 2,874
Shareholders' funds 6,255 2,974
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ashraf Hanna
Director
Approved by the board on 16 November 2023
ASH AUTO LIMITED
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 1,649
At 28 February 2023 1,649
Depreciation
At 1 March 2022 514
Charge for the year 227
At 28 February 2023 741
Net book value
At 28 February 2023 908
At 28 February 2022 1,135
4 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 22,874 34,768
Taxation and social security costs 3,364 3,583
Other creditors 16,793 16,138
43,031 54,489
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 25,897 46,083
Other creditors 14,000 -
39,897 46,083
6 Other information
ASH AUTO LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
505 Staines Road
Feltham
Middlesex
TW14 8BN
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