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REGISTERED NUMBER: 13063338 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

M.S. Lusardi Motors Limited

M.S. Lusardi Motors Limited (Registered number: 13063338)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M.S. Lusardi Motors Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr S Ramadan





REGISTERED OFFICE: 130a Darkes Lane
Potters Bar
Hertfordshire
EN6 1AF





REGISTERED NUMBER: 13063338 (England and Wales)





ACCOUNTANTS: M Georghiades & Associates
Chartered Certified Accountants
130A Darkes Lane
Potters Bar
Hertfordshire
EN6 1AF

M.S. Lusardi Motors Limited (Registered number: 13063338)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 73,298 88,912

CURRENT ASSETS
Stocks 5 4,909 3,987
Debtors 6 7,318 7,318
Cash at bank and in hand 30,819 25,026
43,046 36,331
CREDITORS
Amounts falling due within one year 7 120,343 83,887
NET CURRENT LIABILITIES (77,297 ) (47,556 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,999

)

41,356

CREDITORS
Amounts falling due after more than one
year

8

(27,880

)

(35,383

)

PROVISIONS FOR LIABILITIES 9 (18,244 ) (14,340 )
NET LIABILITIES (50,123 ) (8,367 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (50,223 ) (8,467 )
SHAREHOLDERS' FUNDS (50,123 ) (8,367 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

M.S. Lusardi Motors Limited (Registered number: 13063338)

Balance Sheet - continued
31 December 2023


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 21 September 2024 and were signed by:





Mr S Ramadan - Director


M.S. Lusardi Motors Limited (Registered number: 13063338)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

M.S. Lusardi Motors 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Provisions
Provisions (ie./ liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - In accordance with the lease term
Fixtures and fittings - 25% on reducing balance

The lease it is amortised over its lease terms, currently being 15 years from the acquisition date.

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

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
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

M.S. Lusardi Motors Limited (Registered number: 13063338)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at a 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 costs determined using the effective interest method, less any impairments losses for bad and doubtful debts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and
leasehold fittings Totals
£    £    £   
COST
At 1 January 2023 30,000 85,066 115,066
Additions - 2,819 2,819
At 31 December 2023 30,000 87,885 117,885
DEPRECIATION
At 1 January 2023 4,000 22,154 26,154
Charge for year 2,000 16,433 18,433
At 31 December 2023 6,000 38,587 44,587
NET BOOK VALUE
At 31 December 2023 24,000 49,298 73,298
At 31 December 2022 26,000 62,912 88,912

5. STOCKS
31.12.23 31.12.22
£    £   
Stocks 4,909 3,987

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 6,001 6,001
PAYE & NIC overpayment 1,317 1,317
7,318 7,318

M.S. Lusardi Motors Limited (Registered number: 13063338)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 19,522 60,310
Social security and other taxes 4,433 6,493
VAT 7,301 3,578
Directors' current accounts 82,837 9,781
Accrued expenses 6,250 3,725
120,343 83,887

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 27,880 35,383

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 18,244 14,340

Deferred
tax
£   
Balance at 1 January 2023 14,340
Provided during year 3,904
Balance at 31 December 2023 18,244

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1.00 100 100

11. RESERVES
Retained
earnings
£   

At 1 January 2023 (8,467 )
Deficit for the year (41,756 )
At 31 December 2023 (50,223 )

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with its directors and other related entities.

M.S. Lusardi Motors Limited (Registered number: 13063338)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

13. POST BALANCE SHEET EVENTS

There have not been any significant events since the balance sheet date.
There were no essential either adjusting events or non-adjusting events in the period of time elapsing between the balance sheet date and the date on which these financial statements are prepared. The impact of COVID-19 is described in the Going Concern Consideration Note.

The ongoing Russia - Ukraine conflict - This ongoing conflict has resulted in going concern becoming a significant risk. The United States and Europe have avoided direct military conflict with Russia amid its conflict with Ukraine. They have however used a set of financial sanctions to limit Russia's access to financial resources. The impact of the sanctions may result in difficulties for the company to operate. Neither M.S. Lusardi Motors Limited nor the owners are currently on the sanctions list at the time of this report, however this may change as the situation changes.

14. GOING CONCERN CONSIDERATION

The Company's management does not see a severe impact of COVID-19 outbreak to its activity. The Company tested the financial impact on the following areas of financial statements that can be affected:
- Breach of trade contracts
- Revenue
- Cost of sales
- Inventories fair value measurements
- Debt repayment

15. ENVIRONMENTAL RISKS AND CLIMATE CHANGES RESPONSIBILITIES

Environmental Risks
Due to the nature of the entity's operational activities there's no exposure to significant environmental risks.

Climate changes and environmental responsibility
Despite the fact that our organisation it is a garage offering car repairs and maintenance as well as a registered M.O.T. station, we are always consider the environmental sustainability. Future business performance will be impacted by our ability to effectively manage the transition to a low carbon economy balancing commercial decisions with the environmental responsibility, agreeing business-wide decarbonisation priorities and managing changes in customer preferences.
This include management of the increasing costs associated with sustainable materials, recycling carbon pricing and further technological, policy and regulatory interventions.We are always looking for the most safest ways to dispose used motor oil, lubricants and second hand car parts and follow relevant laws and regulations as well as Government reporting guidelines and procedure requirements.
We are operating in a world and a sector with high pressure from carbon-conscious customers, government bodies and regulators to operate in a more environmentally conscious manner. To respond to the circular economy, waste reduction and low carbon products and use of a recycled parts and related components.