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REGISTERED NUMBER: 13206655 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

EJW AUTOS LIMITED

EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EJW AUTOS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: J P Waddell





REGISTERED OFFICE: 1 Ballard Business Park
Cuxton Road
Strood
Rochester
Kent
ME2 2NY





REGISTERED NUMBER: 13206655 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 244,744 194,297

CURRENT ASSETS
Stocks 783,603 921,014
Debtors 6 177,320 191,625
Cash at bank 374,452 397,533
1,335,375 1,510,172
CREDITORS
Amounts falling due within one year 7 1,533,222 1,413,234
NET CURRENT (LIABILITIES)/ASSETS (197,847 ) 96,938
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,897

291,235

PROVISIONS FOR LIABILITIES 46,501 36,916
NET ASSETS 396 254,319

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 296 254,219
SHAREHOLDERS' FUNDS 396 254,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 July 2024 and were signed by:





J P Waddell - Director


EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

EJW Autos Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, including the presentation and disclosure requirements of Section 1A applicable to small companies, and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.The policies adopted for the recognition of turnover are as following:

- Sale of goods
Turnover from the sale of goods is recognised when all the following conditions are satisfied:
The entity has transferred to the buyer the significant risks and rewards of ownership of the goods;
The entity retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
The amount of revenue can be measured reliably;
It is probable that the economic benefits associated with the transaction will flow to the entity; and
The costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

Financial instruments
Basic financial assets/liabilities including trade and other receivables/payables, cash and bank balances, are initially recognised at transaction price unless the arrangement constitutes a financing transaction (loan over period of time) where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Such assets/liabilities are subsequently carried at amortised cost using the effective interest method.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 11 ) .

EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 March 2023 144,321 32,020 17,850
Additions 60,790 1,149 1,564
At 29 February 2024 205,111 33,169 19,414
DEPRECIATION
At 1 March 2023 14,432 8,005 4,463
Charge for year 20,511 6,291 3,738
At 29 February 2024 34,943 14,296 8,201
NET BOOK VALUE
At 29 February 2024 170,168 18,873 11,213
At 28 February 2023 129,889 24,015 13,387

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 26,000 16,081 236,272
Additions 27,583 4,730 95,816
At 29 February 2024 53,583 20,811 332,088
DEPRECIATION
At 1 March 2023 10,250 4,825 41,975
Charge for year 10,833 3,996 45,369
At 29 February 2024 21,083 8,821 87,344
NET BOOK VALUE
At 29 February 2024 32,500 11,990 244,744
At 28 February 2023 15,750 11,256 194,297

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,345 21,250
Amounts owed by group undertakings 43,533 -
Other debtors 119,442 170,375
177,320 191,625

EJW AUTOS LIMITED (REGISTERED NUMBER: 13206655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 416,897 230,775
Taxation and social security 66,387 114,225
Other creditors 1,049,938 1,068,234
1,533,222 1,413,234

8. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £126,667 (2023 - £Nil).

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
J P Waddell
Balance outstanding at start of year (44 ) (26,556 )
Amounts advanced 131,971 116,214
Amounts repaid (53,400 ) (89,702 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 78,527 (44 )

D H Waddell
Balance outstanding at start of year - (26,556 )
Amounts advanced - 56,173
Amounts repaid - (29,617 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan from the company to the director is unsecured and repayable on demand. Interest was charged during the year at the official rate per HMRC.

10. RELATED PARTY DISCLOSURES

Included in other loans is a £980,000 loan from a company in which the father of director Mr J P Waddell is a sole director and ultimate controlling party. The loan is unsecured, interest free and repayable on demand.

The company operates from a commercial property owned by a company in which the father of director Mr J P Waddell is a sole director and ultimate controlling party. No rent is charged to the company for the use of the property which has a market value rental yield of circa £72k per annum.