Company Registration No. 11449816 (England and Wales)
IPSWICH AUTO SPARES LTD
Unaudited accounts
for the year ended 31 July 2023
IPSWICH AUTO SPARES LTD
Unaudited accounts
Contents
IPSWICH AUTO SPARES LTD
Company Information
for the year ended 31 July 2023
Director
Wahidula Muhibzada
Company Number
11449816 (England and Wales)
Registered Office
5-13 UNITY STREET
IPSWICH
SUFFOLK
IP3 0AP
UNITED KINGDOM
Accountants
Yahya & Co Accountants Ltd
T/A Yahya Accountancy
164 West Hendon Broadway
London
NW9 7AA
IPSWICH AUTO SPARES LTD
Statement of financial position
as at 31 July 2023
Cash at bank and in hand
2,082
305
Creditors: amounts falling due within one year
(56,661)
(36,083)
Net current assets
10,238
15,040
Total assets less current liabilities
16,584
15,949
Creditors: amounts falling due after more than one year
(7,815)
(11,930)
Called up share capital
1
1
Profit and loss account
8,768
4,018
Shareholders' funds
8,769
4,019
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 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 17 April 2024 and were signed on its behalf by
Wahidula Muhibzada
Director
Company Registration No. 11449816
IPSWICH AUTO SPARES LTD
Notes to the Accounts
for the year ended 31 July 2023
IPSWICH AUTO SPARES LTD is a private company, limited by shares, registered in England and Wales, registration number 11449816. The registered office is 5-13 UNITY STREET, IPSWICH, SUFFOLK, IP3 0AP, 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.
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:
Computer equipment
18% Reducing Balance Method
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2022
-
1,133
1,133
Additions
4,836
1,240
6,076
At 31 July 2023
4,836
2,373
7,209
At 1 August 2022
-
224
224
Charge for the year
435
204
639
At 31 July 2023
435
428
863
At 31 July 2023
4,401
1,945
6,346
Amounts falling due within one year
IPSWICH AUTO SPARES LTD
Notes to the Accounts
for the year ended 31 July 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,639
4,013
Trade creditors
211
20,820
Taxes and social security
784
794
Loans from directors
49,334
736
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).