GNA CAR SALES LIMITED

Company Registration Number:
12168102 (England and Wales)

Unaudited abridged accounts for the year ended 30 May 2023

Period of accounts

Start date: 31 May 2022

End date: 30 May 2023

GNA CAR SALES LIMITED

Contents of the Financial Statements

for the Period Ended 30 May 2023

Company Information - 3
Report of the Directors - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 11

GNA CAR SALES LIMITED

Company Information

for the Period Ended 30 May 2023




Director: Grzegorz Seczkowski
Registered office: 55
Farm Road
Abingdon
Oxfordshire
England
OX14 1NE
Company Registration Number: 12168102 (England and Wales)

GNA CAR SALES LIMITED

Directors' Report Period Ended 30 May 2023

The directors present their report with the financial statements of the company for the period ended 30 May 2023

Principal Activities

Principal activity of the company during the financial year was of sale of used cars and light motor vehicles

Political and charitable donations

During the year the company has not made any political donations

Company policy on the employment of disabled persons

The company has only 1 employee at present but should a need occur for expanding team - the company is happy to support people with disabilities meeting employment specification and under the current Disability Act.

Additional information

N/A

Directors

The directors shown below have held office during the whole of the period from 31 May 2022 to 30 May 2023
Grzegorz Seczkowski

This report was approved by the board of directors on 18 February 2024
And Signed On Behalf Of The Board By:

Name: Grzegorz Seczkowski
Status: Director

GNA CAR SALES LIMITED

Balance sheet

As at 30 May 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 5 25,200 30,000
Total fixed assets: 25,200 30,000
Current assets
Stocks: 147,350 82,552
Cash at bank and in hand: 9,625 46,012
Total current assets: 156,975 128,564
Creditors: amounts falling due within one year: ( 137,299 ) ( 95,420 )
Net current assets (liabilities): 19,676 33,144
Total assets less current liabilities: 44,876 63,144
Creditors: amounts falling due after more than one year: ( 20,000 ) ( 30,000 )
Accruals and deferred income: ( 8,250 )
Total net assets (liabilities): 24,876 24,894

The notes form part of these financial statements

GNA CAR SALES LIMITED

Balance sheet continued

As at 30 May 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 24,875 24,893
Shareholders funds: 24,876 24,894

For the year ending 30 May 2023 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 February 2024
And Signed On Behalf Of The Board By:

Name: Grzegorz Seczkowski
Status: Director

The notes form part of these financial statements

GNA CAR SALES LIMITED

Notes to the Financial Statements

for the Period Ended 30 May 2023

  • 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation
    and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
    Leased equipment over the length of lease agreement
    Plant and machinery over 5 years
    Fixture and fittings over 5 years
    Computer equipment 5 years - reducing balance

    Other accounting policies

    Assets on finance lease and hire purchase Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives. Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Provisions Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

GNA CAR SALES LIMITED

Notes to the Financial Statements

for the Period Ended 30 May 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 1 1

GNA CAR SALES LIMITED

Notes to the Financial Statements

for the Period Ended 30 May 2023

  • 3. Off balance sheet disclosure

    No

GNA CAR SALES LIMITED

Notes to the Financial Statements

for the Period Ended 30 May 2023

4. Dividends


2023
£

2022
£
Dividends paid 18,500 25,000

GNA CAR SALES LIMITED

Notes to the Financial Statements

for the Period Ended 30 May 2023

5. Tangible Assets

Total
Cost £
At 31 May 2022 30,000
Additions -
Disposals -
Revaluations -
Transfers -
At 30 May 2023 30,000
Depreciation
At 31 May 2022 -
Charge for year 4,800
On disposals -
Other adjustments -
At 30 May 2023 4,800
Net book value
At 30 May 2023 25,200
At 30 May 2022 30,000

The net book value of Motor Vehicles includes £ 25,200 (2022 £30,000) in respect of assets leased under finance leases or hire purchase contracts

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leased equipment over the length of lease agreement
Plant and machinery over 5 years
Fixture and fittings over 5 years
Computer equipment 5 years - reducing balance