Registered number
12189337
EAST LONDON REPAIRS LTD
Filleted Accounts
for the year ended 30 September 2023
EAST LONDON REPAIRS LTD
Registered number: 12189337
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 19,483 20,915
Current assets
Cash at bank and in hand 25,384 11,380
Creditors: amounts falling due within one year 4 (19,150) (8,821)
Net current assets 6,234 2,559
Total assets less current liabilities 25,717 23,474
Creditors: amounts falling due after more than one year 5 (19,262) (23,077)
Net assets 6,455 396
Capital and reserves
Called up share capital 2 2
Profit and loss account 6,453 394
Shareholders' funds 6,455 396
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.
Mrs Sonal Magar
Director
Approved by the board on 28 November 2023
EAST LONDON REPAIRS LTD
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
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:
Plant and machinery 10% Straight Line Method
Fixtures, fittings, tools and equipment 10% Straight Line Method
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 Motor vehicles Total
£ £ £
Cost
At 1 October 2022 - 26,144 26,144
Additions 1,313 - 1,313
At 30 September 2023 1,313 26,144 27,457
Depreciation
At 1 October 2022 - 5,229 5,229
Charge for the year 131 2,614 2,745
At 30 September 2023 131 7,843 7,974
Net book value
At 30 September 2023 1,182 18,301 19,483
At 30 September 2022 - 20,915 20,915
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,751 3,751
Income in Advance 4,580 -
Taxation and social security costs 7,434 6,292
Other creditors 3,385 (1,222)
19,150 8,821
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,262 23,077
6 Other information
EAST LONDON REPAIRS LTD is a private company limited by shares and incorporated in England. Its registered office is:
96 Seymour Road
London
United Kingdom
E6 1PX
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