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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
Page
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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
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IPSWICH AUTO SPARES LTD Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,346 
909 
Current assets
Inventories
64,817 
33,718 
Debtors
- 
17,100 
Cash at bank and in hand
2,082 
305 
66,899 
51,123 
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)
Net assets
8,769 
4,019 
Capital and reserves
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
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IPSWICH AUTO SPARES LTD Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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 
Depreciation
At 1 August 2022
- 
224 
224 
Charge for the year
435 
204 
639 
At 31 July 2023
435 
428 
863 
Net book value
At 31 July 2023
4,401 
1,945 
6,346 
At 31 July 2022
- 
909 
909 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
11,350 
Other debtors
- 
5,750 
- 
17,100 
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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 
VAT
1,693 
8,779 
Trade creditors
211 
20,820 
Taxes and social security
784 
794 
Other creditors
- 
941 
Loans from directors
49,334 
736 
56,661 
36,083 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
7,815 
11,930 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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