Company registration number 00960159 (England and Wales)
C And G Austin Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Pages For Filing With Registrar
Pinnick Lewis LLP
Chartered Certified Accountants
Handel House
95 High Street
Edgware
HA8 7DB
C And G Austin Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
C And G Austin Limited
BALANCE SHEET
As At 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
4
450,000
680,000
Current assets
Debtors
5
5,814
Cash at bank and in hand
1,011,724
279,646
1,011,724
285,460
Creditors: amounts falling due within one year
6
(164,618)
(33,048)
Net current assets
847,106
252,412
Net assets
1,297,106
932,412
Capital and reserves
Called up share capital
75
75
Revaluation reserve
175,488
29,929
Other reserves
100
100
Profit and loss reserves
1,121,443
902,308
Total equity
1,297,106
932,412
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 16 September 2024 and are signed on its behalf by:
Mrs H S Offenbach
Director
Company registration number 00960159 (England and Wales)
C And G Austin Limited
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023
- 2 -
1
Accounting policies
Company information
C and G Austin Limited is a private company limited by shares incorporated in England and Wales. The registered office is Handel House, 95 High Street, Edgware, HA8 7DB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
10% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
C And G Austin Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 31 December 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 January 2023 and 31 December 2023
11,202
Depreciation and impairment
At 1 January 2023 and 31 December 2023
11,202
Carrying amount
At 31 December 2023
At 31 December 2022
4
Investment property
2023
£
Fair value
At 1 January 2023
680,000
Additions
162,849
Disposals
(392,849)
At 31 December 2023
450,000
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,124
Other debtors
4,690
5,814
C And G Austin Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 31 December 2023
- 4 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
14,400
Corporation tax
2,692
2,969
Other taxation and social security
117,901
3,480
Other creditors
29,625
26,599
164,618
33,048