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Registered number: 5222482
NASS CARS UK
Unaudited Financial Statements
For The Year Ended 30 November 2023
23 Harold Avenue
Belvedere
Kent
DA17 5NN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 5222482
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,318 10,962
9,318 10,962
CURRENT ASSETS
Stocks 5 450,388 450,388
Debtors 6 144,581 195,970
Cash at bank and in hand 97,904 48,630
692,873 694,988
Creditors: Amounts Falling Due Within One Year 7 (82,270 ) (196,518 )
NET CURRENT ASSETS (LIABILITIES) 610,603 498,470
TOTAL ASSETS LESS CURRENT LIABILITIES 619,921 509,432
NET ASSETS 619,921 509,432
CAPITAL AND RESERVES
Called up share capital 8 3 3
Profit and Loss Account 619,918 509,429
SHAREHOLDERS' FUNDS 619,921 509,432
Page 1
Page 2
For the year ending 30 November 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mohammed Akeel Bajwa
Director
25/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
NASS CARS UK is a private company, limited by shares, incorporated in England & Wales, registered number 5222482 . The registered office is 401 Bradford Road, Pudsey, West Yorkshire, LS18 4HJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 10 10
10 10
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2022 63,114
As at 30 November 2023 63,114
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 December 2022 52,152
Provided during the period 1,644
As at 30 November 2023 53,796
Net Book Value
As at 30 November 2023 9,318
As at 1 December 2022 10,962
5. Stocks
2023 2022
£ £
Stock 450,388 450,388
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 97,896 82,604
VAT 46,685 78,991
144,581 161,595
Due after more than one year
Other debtors - 34,375
144,581 195,970
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors (15,045 ) 51,237
Bank loans and overdrafts 96,662 78,788
Other taxes and social security 653 423
Other creditors - 66,070
82,270 196,518
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
3 Ordinary Shares of £ 1 each 3 3
Page 4