Company Registration No. 07932726 (England and Wales)
Brand Autos Ltd
Unaudited accounts
for the year ended 30 June 2023
Brand Autos Ltd
Unaudited accounts
Contents
Brand Autos Ltd
Company Information
for the year ended 30 June 2023
Company Number
07932726 (England and Wales)
Registered Office
Unit 8 Kingsley Business Park
Kingsley
Bordon
Hampshire
GU35 9LY
United Kingdom
Accountants
M A Accountancy Group
Wolfe Mead
Farnham Road
Bordon
Hampshire
GU35 0NH
Brand Autos Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
7,639
5,830
Cash at bank and in hand
23,339
34,045
Creditors: amounts falling due within one year
(37,204)
(38,376)
Net current assets
5,493
11,805
Total assets less current liabilities
13,132
17,635
Creditors: amounts falling due after more than one year
(11,667)
(16,667)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
335
246
Shareholders' funds
435
346
For the year ending 30 June 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 director acknowledges his 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 and authorised for issue on 30 January 2024 and were signed on its behalf by
Paul Brand
Director
Company Registration No. 07932726
Brand Autos Ltd
Notes to the Accounts
for the year ended 30 June 2023
Brand Autos Ltd is a private company, limited by shares, registered in England and Wales, registration number 07932726. The registered office is Unit 8 Kingsley Business Park, Kingsley, Bordon, Hampshire, GU35 9LY, 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 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.
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:
Plant & machinery
20% on reducing balance
Motor vehicles
20% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Brand Autos Ltd
Notes to the Accounts
for the year ended 30 June 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2022
24,687
5,375
30,062
At 30 June 2023
24,687
8,681
33,368
At 1 July 2022
21,542
2,690
24,232
Charge for the year
629
868
1,497
At 30 June 2023
22,171
3,558
25,729
At 30 June 2023
2,516
5,123
7,639
At 30 June 2022
3,145
2,685
5,830
Amounts falling due within one year
Accrued income and prepayments
4,895
2,500
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,000
5,000
Trade creditors
22,335
20,093
Taxes and social security
9,269
12,461
7
Creditors: amounts falling due after more than one year
2023
2022
Brand Autos Ltd
Notes to the Accounts
for the year ended 30 June 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
The above loan has been provided interest free with no fixed terms for repayment.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).