NI CAR SALES LTD

Company Registration Number:
NI664426 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

NI CAR SALES LTD

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

NI CAR SALES LTD

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 44,608 43,455
Total fixed assets: 44,608 43,455
Current assets
Stocks: 1,054,414 904,654
Debtors:   31,779 46,092
Cash at bank and in hand: 2,218 23,233
Total current assets: 1,088,411 973,979
Creditors: amounts falling due within one year:   (692,133) (574,465)
Net current assets (liabilities): 396,278 399,514
Total assets less current liabilities: 440,886 442,969
Total net assets (liabilities): 440,886 442,969
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 440,786 442,869
Shareholders funds: 440,886 442,969

The notes form part of these financial statements

NI CAR SALES LTD

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 August 2024
and signed on behalf of the board by:

Name: Michael Hoy
Status: Director

The notes form part of these financial statements

NI CAR SALES LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible fixed assets and depreciation policy

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows: Land and buildings freehold 0% Straight Line Plant and machinery 20% Straight Line Fixtures, Fittings and equipment 15% Straight Line The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

NI CAR SALES LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 2 2

NI CAR SALES LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 56,969
Additions 12,870
At 31 March 2024 69,839
Depreciation
At 01 April 2023 13,514
Charge for year 11,717
At 31 March 2024 25,231
Net book value
At 31 March 2024 44,608
At 31 March 2023 43,455