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Company Registration No. 12977648 (England and Wales)
OWG CARS LTD Unaudited accounts for the year ended 31 October 2023
OWG CARS LTD Unaudited accounts Contents
Page
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OWG CARS LTD Company Information for the year ended 31 October 2023
Director
Mr O W Gowing
Secretary
Mr O W Gowing
Company Number
12977648 (England and Wales)
Registered Office
331a Southampton Road Titchfield Fareham Hampshire PO14 4AY England
Accountants
N L Accounting (South West) Ltd Unit 7, Town Farm Workshops Sixpenny Handley Salisbury Wiltshire SP5 5PA
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OWG CARS LTD Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,209 
5,254 
Current assets
Inventories
221,886 
50,000 
Debtors
21,420 
425 
Cash at bank and in hand
21,436 
3,581 
264,742 
54,006 
Creditors: amounts falling due within one year
(284,882)
(78,749)
Net current liabilities
(20,140)
(24,743)
Net liabilities
(14,931)
(19,489)
Capital and reserves
Called up share capital
7,867 
1 
Profit and loss account
(22,798)
(19,490)
Shareholders' funds
(14,931)
(19,489)
For the year ending 31 October 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 27 July 2024 and were signed on its behalf by
Mr O W Gowing Director Company Registration No. 12977648
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OWG CARS LTD Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
OWG CARS LTD is a private company, limited by shares, registered in England and Wales, registration number 12977648. The registered office is 331a Southampton Road, Titchfield, Fareham, Hampshire, PO14 4AY, 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.
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:
Motor vehicles
20% Reducing Balance
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
7,167 
- 
7,167 
Additions
- 
1,258 
1,258 
At 31 October 2023
7,167 
1,258 
8,425 
Depreciation
At 1 November 2022
1,913 
- 
1,913 
Charge for the year
1,051 
252 
1,303 
At 31 October 2023
2,964 
252 
3,216 
Net book value
At 31 October 2023
4,203 
1,006 
5,209 
At 31 October 2022
5,254 
- 
5,254 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
221,886 
50,000 
221,886 
50,000 
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OWG CARS LTD Notes to the Accounts for the year ended 31 October 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
21,420 
425 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
17,434 
(3,913)
Trade creditors
106,989 
(1,279)
Other creditors
11,886 
- 
Loans from directors
148,073 
83,441 
Accruals
500 
500 
284,882 
78,749 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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