Company Registration No. 1226492 (England and Wales)
Brian Lowe Automobiles Limited
Unaudited accounts
for the period from 1 April 2023 to 30 November 2023
Brian Lowe Automobiles Limited
Unaudited accounts
Contents
Brian Lowe Automobiles Limited
Company Information
for the period from 1 April 2023 to 30 November 2023
Directors
James Lowe
Benjamin Lowe
Company Number
1226492 (England and Wales)
Registered Office
17 Davis Road
Weybridge
KT13 0XH
United Kingdom
Accountants
Simply Accountants
54, Hundred Acres Lane,
Hundred Acres Lane
Amersham
Buckinghamshire
HP7 9BX
Brian Lowe Automobiles Limited
Statement of financial position
as at 30 November 2023
Investment property
-
1,500,000
Cash at bank and in hand
2,249,378
85,235
Creditors: amounts falling due within one year
(187,444)
(12,791)
Net current assets
2,061,934
72,444
Total assets less current liabilities
2,061,934
1,592,010
Creditors: amounts falling due after more than one year
-
(18,554)
Provisions for liabilities
Net assets
2,061,934
1,235,812
Called up share capital
100
100
Revaluation reserve
-
1,012,931
Profit and loss account
2,061,834
222,781
Shareholders' funds
2,061,934
1,235,812
For the period ending 30 November 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 1 December 2023 and were signed on its behalf by
James Lowe
Director
Company Registration No. 1226492
Brian Lowe Automobiles Limited
Notes to the Accounts
for the period from 1 April 2023 to 30 November 2023
Brian Lowe Automobiles Limited is a private company, limited by shares, registered in England and Wales, registration number 1226492. The registered office is 17 Davis Road, Weybridge, KT13 0XH, United Kingdom.
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 period, 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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover represents rental income from investment properties.
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:
Brian Lowe Automobiles Limited
Notes to the Accounts
for the period from 1 April 2023 to 30 November 2023
4
Tangible fixed assets
Motor vehicles
5
Investment property
30/11/2023
Fair value at 1 April 2023
1,500,000
Investment properties were valued on an open market by the directors.
6
Creditors: amounts falling due within one year
30/11/2023
31/03/2023
Taxes and social security
186,574
8,659
Loans from directors
870
398
7
Creditors: amounts falling due after more than one year
30/11/2023
31/03/2023
8
Average number of employees
During the period the average number of employees was 2 (31/03/2023: 2).