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REGISTERED NUMBER: 05957492 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

GERMAN AUTOMOTIVE LIMITED

GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GERMAN AUTOMOTIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







Directors: Mr I Essex
Mr V Essex
Ms D L Armstrong





Secretary: Mrs F Essex





Registered office: 10 Stadium Business Court
Millennium Way
Pride Park
Derby
DE24 8HP





Registered number: 05957492 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
10 Stadium Business Court
Millennium Way
Pride Park
Derby
DE24 8HP

GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £ £
Fixed assets
Tangible assets 4 1,062,274 1,105,474

Current assets
Stocks 65,000 50,000
Debtors 5 27,123 5,832
Cash at bank 26,271 51,785
118,394 107,617
Creditors
Amounts falling due within one year 6 (576,544 ) (421,074 )
Net current liabilities (458,150 ) (313,457 )
Total assets less current liabilities 604,124 792,017

Creditors
Amounts falling due after more than one
year

7

(57,532

)

(187,179

)

Provisions for liabilities (75,207 ) (75,207 )
Net assets 471,385 529,631

Capital and reserves
Called up share capital 9 800 800
Revaluation reserve 10 536,266 544,574
Retained earnings 10 (65,681 ) (15,743 )
Shareholders' funds 471,385 529,631

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by:





Mr I Essex - Director


GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

German Automotive 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

The directors have considered the fair value of freehold property at the reporting date to be materially in line
with fair value. This has been calculated based on historic purchase price and review of trends in the property market. No professional valuation was obtained during the year, the methods and significant assumptions applied in determining the fair value of the investment property include consideration into; property market
trends local to the property, recent property sales local to the investment property, rental yield of the property
and the condition of the property.

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.
Freehold land - 10 - 50 years straight line
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 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.

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.

GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
land machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 January 2022 995,000 292,986 139,648 75,095 1,502,729
Additions - 4,855 - - 4,855
At 31 December 2022 995,000 297,841 139,648 75,095 1,507,584
Depreciation
At 1 January 2022 - 242,226 99,053 55,976 397,255
Charge for year 19,900 13,904 9,471 4,780 48,055
At 31 December 2022 19,900 256,130 108,524 60,756 445,310
Net book value
At 31 December 2022 975,100 41,711 31,124 14,339 1,062,274
At 31 December 2021 995,000 50,760 40,595 19,119 1,105,474

Included within the net book value of £1,062,274 is £10,235 (2021: £13,646) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £3,411 (2021: £4,548).


If freehold property had not been revalued it would have been included at the following historic cost:


2022
Cost480,487
Additions-
Depreciation at 1 January 2022(79,024)
Charge for year(9,265)
Net historical cost value392,197

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade debtors 26,214 4,405
Prepayments and accrued income 909 1,427
27,123 5,832

GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Bank loans and overdrafts - 19,200
Hire purchase contracts 22,285 22,285
Trade creditors 108,878 66,203
Social security and other taxes 20,731 -
VAT 27,279 23,760
Other creditors 30,393 38,860
Accruals and deferred income 3,500 3,500
Wages 14,214 -
Directors' loan accounts 349,264 247,266
576,544 421,074

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£ £
Bank loans - due between 2-5 years 51,895 165,628
Hire purchase contracts 5,637 21,551
57,532 187,179

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£ £
Bank loans 51,895 184,828

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £ £
800 Ordinary £1 800 800

10. RESERVES
Retained Revaluation
earnings reserve Totals
£ £ £

At 1 January 2022 (15,743 ) 544,574 528,831
Deficit for the year (58,246 ) (58,246 )
Transfer to profit and loss account 8,308 (8,308 ) -
At 31 December 2022 (65,681 ) 536,266 470,585

GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

2022 2021
£ £
Mr I Essex
Balance outstanding at start of year (247,266 ) (80,366 )
Amounts advanced 220,800 140,456
Amounts repaid (322,798 ) (307,356 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (349,264 ) (247,266 )

12. RELATED PARTY DISCLOSURES

The controlling party is Mr I Essex.