Company Registration No. 14072415 (England and Wales)
FAST LANE DRIVING LTD
Unaudited accounts
for the period from 27 April 2022 to 30 April 2023
FAST LANE DRIVING LTD
Unaudited accounts
Contents
FAST LANE DRIVING LTD
Company Information
for the period from 27 April 2022 to 30 April 2023
Company Number
14072415 (England and Wales)
Registered Office
21 HYDE PARK ROAD
LEEDS
LS6 1PY
ENGLAND
Accountants
HLA Accountants
21 Hyde Park Road
Leeds
West Yorkshire
LS6 1PY
FAST LANE DRIVING LTD
Statement of financial position
as at 30 April 2023
Cash at bank and in hand
960
Creditors: amounts falling due within one year
(1,540)
Net current liabilities
(480)
Total assets less current liabilities
13,047
Creditors: amounts falling due after more than one year
(11,344)
Called up share capital
100
Profit and loss account
1,603
For the period ending 30 April 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 16 May 2023 and were signed on its behalf by
Saba MAHMOOD
Director
Company Registration No. 14072415
FAST LANE DRIVING LTD
Notes to the Accounts
for the period from 27 April 2022 to 30 April 2023
FAST LANE DRIVING LTD is a private company, limited by shares, registered in England and Wales, registration number 14072415. The registered office is 21 HYDE PARK ROAD, LEEDS, LS6 1PY, ENGLAND.
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 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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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.
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:
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.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
FAST LANE DRIVING LTD
Notes to the Accounts
for the period from 27 April 2022 to 30 April 2023
4
Tangible fixed assets
Motor vehicles
Charge for the period
3,381
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2023
Taxes and social security
376
7
Creditors: amounts falling due after more than one year
2023
Obligations under finance leases and hire purchase contracts
11,344
8
Average number of employees
During the period the average number of employees was 0.