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Registered Number: 07421842
England and Wales

 

 

 

GREENWICH MOT & SERVICE CENTRE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Director D W Robinson
Registered Number 07421842
Registered Office 2 Gordon Road
Sidcup
Kent
DA15 8SX
Accountants Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
Essex
RM14 2AP
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 October 2023
Principal activities
The companys principal activity during the year was the maintenance and repair of motor vehicles.
Director
The director who served the company throughout the year was as follows:
D W Robinson
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
D W Robinson
Director

Date approved: 12 September 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 October 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Versa Tax Solutions Ltd
31 October 2023



....................................................
Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
Essex
RM14 2AP
12 September 2024
3
 
 
Notes
 
2023
£
  2022
£
Turnover 64,544    57,185 
Cost of sales (42,533)   (11,952)
Gross profit 22,011    45,233 
Administrative expenses (29,880)   (35,006)
Operating profit/(loss) (7,869)   10,227 
Interest payable and similar charges (399)   (556)
Profit/(Loss) on ordinary activities before taxation (8,268)   9,671 
Tax on profit on ordinary activities   (2,017)
Profit/(Loss) for the financial year (8,268)   7,654 
 
4
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 3,753    2,644 
3,753    2,644 
Current assets      
Stocks 4 5,500    5,500 
Debtors 5 7,079    3,739 
Cash at bank and in hand 6,695    28,734 
19,274    37,973 
Creditors: amount falling due within one year 6 (13,462)   (6,466)
Net current assets 5,812    31,507 
 
Total assets less current liabilities 9,565    34,151 
Creditors: amount falling due after more than one year 7 (8,864)   (13,982)
Net assets 701    20,169 
 

Capital and reserves
     
Called up share capital 8 500    500 
Profit and loss account 201    19,669 
Shareholders' funds 701    20,169 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 12 September 2024 and were signed by:


-------------------------------
D W Robinson
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 November 2021 500  12,015  12,515 
Profit for the year 7,654  7,654 
Total comprehensive income for the year 7,654  7,654 
Total investments by and distributions to owners
At 31 October 2022 500  19,669  20,169 
At 01 November 2022 500  19,669  20,169 
Profit for the year (8,268) (8,268)
Total comprehensive income for the year (8,268) (8,268)
Dividends (11,200) (11,200)
Total investments by and distributions to owners (11,200) (11,200)
At 31 October 2023 500  201  701 
6
General Information
Greenwich MOT & Service Centre Limited is a private company, limited by shares, registered in England and Wales, registration number 07421842, registration address 2 Gordon Road, Sidcup, Kent, DA15 8SX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 November 2022 21,017    3,400    1,749    26,166 
Additions   2,359      2,359 
Disposals      
At 31 October 2023 21,017    5,759    1,749    28,525 
Depreciation
At 01 November 2022 19,206    3,200    1,116    23,522 
Charge for year 453    639    158    1,250 
On disposals      
At 31 October 2023 19,659    3,839    1,274    24,772 
Net book values
Closing balance as at 31 October 2023 1,358    1,920    475    3,753 
Opening balance as at 01 November 2022 1,811    200    633    2,644 


4.

Stocks

2023
£
  2022
£
Stocks 5,500    5,500 
5,500    5,500 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 4,918    3,739 
Directors' Current Accounts 2,161   
7,079    3,739 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 10,003    242 
Bank Loans & Overdrafts 3,609   
Corporation Tax   2,005 
Accrued Expenses   2,100 
Other Creditors   1,865 
PAYE & Social Security (150)   (301)
Directors' Current Accounts   555 
13,462    6,466 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 6,764    13,982 
Accrued Expenses 2,100   
8,864    13,982 

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
500 Class A shares of £1.00 each 500    500 
500    500 

9.

Director’s loan

Director Current Account

At the year end, the company was owed £2,161 (2022: owed £554.98) to the director in respect of a directors loan.
The loan is provided interest free and repayable upon demand
7