SOUTH ESSEX AUTOMOTIVE ACCESSORIES LIMITED

Company Registration Number:
09035101 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

SOUTH ESSEX AUTOMOTIVE ACCESSORIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

SOUTH ESSEX AUTOMOTIVE ACCESSORIES LIMITED

Balance sheet

As at 31 May 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 71,655 56,389
Total fixed assets: 71,655 56,389
Current assets
Stocks: 48,786 55,286
Debtors:   108,976 109,549
Cash at bank and in hand: 10,679 6,667
Total current assets: 168,441 171,502
Creditors: amounts falling due within one year:   (210,301) (187,552)
Net current assets (liabilities): (41,860) (16,050)
Total assets less current liabilities: 29,795 40,339
Creditors: amounts falling due after more than one year:   (27,319) (35,289)
Total net assets (liabilities): 2,476 5,050
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 2,474 5,048
Shareholders funds: 2,476 5,050

The notes form part of these financial statements

SOUTH ESSEX AUTOMOTIVE ACCESSORIES LIMITED

Balance sheet statements

For the year ending 31 May 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 15 October 2024
and signed on behalf of the board by:

Name: Mr D Freeman
Status: Director

The notes form part of these financial statements

SOUTH ESSEX AUTOMOTIVE ACCESSORIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets and depreciation policy

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 basis:- Plant and Machinery 15% reducing balance and 20% straight line Computer equipment 20% straight line Fixtures, fittings & equipment 15% reducing balance and 20% straight line Motor Vehicles 25% reducing balance 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

SOUTH ESSEX AUTOMOTIVE ACCESSORIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 6 6

SOUTH ESSEX AUTOMOTIVE ACCESSORIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible Assets

Total
Cost £
At 01 June 2023 115,338
Additions 31,944
Disposals (22,204)
At 31 May 2024 125,078
Depreciation
At 01 June 2023 58,949
Charge for year 7,311
On disposals (12,837)
At 31 May 2024 53,423
Net book value
At 31 May 2024 71,655
At 31 May 2023 56,389