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COMPANY REGISTRATION NUMBER: 01237303
Autosaws Limited
Filleted Unaudited Abridged Financial Statements
31 July 2023
Autosaws Limited
Abridged Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Current assets
Cash at bank and in hand
406
406
Creditors: amounts falling due within one year
406
----
----
Net current assets
406
----
----
Total assets less current liabilities
406
----
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 100)
306
----
----
Shareholders funds
406
----
----
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 5 April 2024 , and are signed on behalf of the board by:
Mr D W Murrall
Director
Company registration number: 01237303
Autosaws Limited
Notes to the Abridged Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Baggeridge Close, Gospel End Village, Sedgley, Dudley, DY3 4AJ.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
Fully Depreciated
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr D W Murrall
( 406)
( 406)
----
----
----
2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr D W Murrall
( 3,247)
3,247
-------
-------
----
5. Related party transactions
The company was under control of the directors during the current and previous year. The directors control the company by virtue of a 100% share capital ownership.