Raj Motors (N.W.) Limited
Registered number: 04988349
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 487 649
Current assets
Stocks 18,468 16,072
Cash at bank and in hand 28,086 25,371
46,554 41,443
Creditors: amounts falling due within one year 5 (13,094) (11,167)
Net current assets 33,460 30,276
Net assets 33,947 30,925
Capital and reserves
Called up share capital 100 100
Profit and loss account 33,847 30,825
Shareholders' funds 33,947 30,925
Average number of Employee 1 1
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Rajesh Modessa
Director
Approved by the board on 9 March 2024
Raj Motors (N.W.) Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees Current comp
number number
Average number of person employed by the company 1 1
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 18,710
At 31 December 2023 18,710
Depreciation
At 1 January 2023 18,061
Charge for the year 162
At 31 December 2023 18,223
Net book value
At 31 December 2023 487
At 31 December 2022 649
3 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,292 3,653
Corporation tax 981 1,437
Other taxes and social security costs 203 184
Other creditors 6,618 5,893
13,094 11,167
4 Other information
Raj Motors (N.W.) Limited is a private company limited by shares and incorporated in England. Its registered office is:
19 Eccles Street
Ribbleton
Preston
PR1 5EX
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