Company Registration No. 10296689 (England and Wales)
PHOENIX WAY CAR DEALERSHIP LIMITED
Unaudited accounts
for the year ended 31 July 2023
PHOENIX WAY CAR DEALERSHIP LIMITED
Unaudited accounts
Contents
PHOENIX WAY CAR DEALERSHIP LIMITED
Company Information
for the year ended 31 July 2023
Directors
Masir Ahmed Nawabi
Ajmal Tayer
Company Number
10296689 (England and Wales)
Registered Office
UNIT 69
PHOENIX WAY
HOUNSLOW
TW5 9NB
ENGLAND
PHOENIX WAY CAR DEALERSHIP LIMITED
Statement of financial position
as at 31 July 2023
Inventories
504,560
426,000
Cash at bank and in hand
26,725
125,819
Creditors: amounts falling due within one year
(27,695)
(30,056)
Net current assets
638,590
656,763
Total assets less current liabilities
639,470
657,923
Creditors: amounts falling due after more than one year
(261,482)
(294,293)
Net assets
377,988
363,630
Called up share capital
2
2
Profit and loss account
377,986
363,628
Shareholders' funds
377,988
363,630
For the year ending 31 July 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by
Masir Ahmed Nawabi
Director
Company Registration No. 10296689
PHOENIX WAY CAR DEALERSHIP LIMITED
Notes to the Accounts
for the year ended 31 July 2023
PHOENIX WAY CAR DEALERSHIP LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10296689. The registered office is UNIT 69, PHOENIX WAY, HOUNSLOW, TW5 9NB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
305
750
2,173
3,228
At 31 July 2023
305
750
2,173
3,228
At 1 August 2022
305
554
1,209
2,068
Charge for the year
-
39
241
280
At 31 July 2023
305
593
1,450
2,348
At 31 July 2023
-
157
723
880
At 31 July 2022
-
196
964
1,160
PHOENIX WAY CAR DEALERSHIP LIMITED
Notes to the Accounts
for the year ended 31 July 2023
Amounts falling due after more than one year
Other debtors
135,000
135,000
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
21,531
23,193
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
261,482
294,293
8
Average number of employees
During the year the average number of employees was 5 (2022: 4).