Registered number
11600635
NEGUINHO MOTORS LTD
Filleted Accounts
30 November 2023
NEGUINHO MOTORS LTD
Registered number: 11600635
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 23,678 4,617
Investments 4 343,000 -
366,678 4,617
Current assets
Stocks 25,000 25,000
Debtors 5 186,675 185,276
Cash at bank and in hand 124,330 268,765
336,005 479,041
Creditors: amounts falling due within one year 6 (171,265) (133,237)
Net current assets 164,740 345,804
Net assets 531,418 350,421
Capital and reserves
Called up share capital 2 2
Profit and loss account 531,416 350,419
Shareholders' funds 531,418 350,421
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Thiago Fauster Martins
Director
Approved by the board on 14 August 2024
NEGUINHO MOTORS LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance and 10% straight line
Fixtures, fittings, tools and equipment 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 6,168
Additions 26,194
At 30 November 2023 32,362
Depreciation
At 1 December 2022 1,551
Charge for the year 7,133
At 30 November 2023 8,684
Net book value
At 30 November 2023 23,678
At 30 November 2022 4,617
4 Investments
Other
investments
£
Cost
Additions 343,000
At 30 November 2023 343,000
5 Debtors 2023 2022
£ £
Trade debtors 148,407 172,659
Other debtors 38,268 12,617
186,675 185,276
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 12,048 1,537
Taxation and social security costs 151,438 125,950
Other creditors 7,779 5,750
171,265 133,237
7 Other information
NEGUINHO MOTORS LTD is a private company limited by shares and incorporated in England. Its registered office is:
4a Penwortham Road
London
SW16 6RE
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