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Company Registration No. 10433068 (England and Wales)
IMPERIAL UK CARS LIMITED Unaudited accounts for the year ended 31 October 2023
IMPERIAL UK CARS LIMITED Unaudited accounts Contents
Page
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IMPERIAL UK CARS LIMITED Company Information for the year ended 31 October 2023
Director
Mohanad Taher Fadhil Al-Bayati
Company Number
10433068 (England and Wales)
Registered Office
143 Mount Park Road, Pinner London HA5 2JY England
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IMPERIAL UK CARS LIMITED Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
889 
- 
Current assets
Inventories
218,740 
156,738 
Cash at bank and in hand
9,491 
(10,735)
228,231 
146,003 
Creditors: amounts falling due within one year
(213,023)
(182,700)
Net current assets/(liabilities)
15,208 
(36,697)
Total assets less current liabilities
16,097 
(36,697)
Creditors: amounts falling due after more than one year
(9,750)
- 
Net assets/(liabilities)
6,347 
(36,697)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
6,346 
(36,698)
Shareholders' funds
6,347 
(36,697)
For the year ending 31 October 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 October 2024 and were signed on its behalf by
Mohanad Taher Fadhil Al-Bayati Director Company Registration No. 10433068
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IMPERIAL UK CARS LIMITED Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
IMPERIAL UK CARS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10433068. The registered office is 143 Mount Park Road, Pinner, London, HA5 2JY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors of Imperial UK Cars Limited have assessed the company's financial position and future prospects and are satisfied that the business remains a going concern. The company has demonstrated consistent sales performance and maintains a diversified revenue base from vehicle sales, finance commissions, and ancillary services. Adequate cash flow and access to financing facilities ensure the company can meet its liabilities as they fall due. Additionally, the company has implemented effective inventory management and cost-control measures to safeguard profitability. There are no significant uncertainties or events that would cast doubt on the company’s ability to continue operating for the foreseeable future. Therefore, the directors have prepared the financial statements on a going concern basis.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing Balance Method
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IMPERIAL UK CARS LIMITED Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 November 2022
- 
Additions
1,111 
At 31 October 2023
1,111 
Depreciation
Charge for the year
222 
At 31 October 2023
222 
Net book value
At 31 October 2023
889 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
218,740 
156,738 
218,740 
156,738 
The closing stock for Imperial UK Cars Limited consists of pre-owned vehicles that remain unsold at the end of the financial year. These vehicles are valued at the lower of cost and net realizable value, in accordance with UK accounting standards. The stock includes cars acquired through direct purchases, part-exchanges, or trade-ins, with careful consideration given to factors such as market demand, vehicle condition, and anticipated selling prices when determining the valuation. Any depreciation in vehicle value due to market conditions or wear and tear is accounted for to ensure an accurate and fair valuation. The closing stock plays a key role in determining the company’s gross profit for the year and reflects the company's ability to convert inventory into revenue.
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
13,720 
VAT
1,740 
(4,114)
Trade creditors
- 
19,950 
Taxes and social security
1,473 
- 
Loans from directors
209,810 
153,144 
213,023 
182,700 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
9,750 
- 
Imperial UK Cars Limited has a long-term bank loan, classified under liabilities due after more than one year, which has been secured to support the company’s ongoing operational and capital needs. The loan balance as of the reporting date reflects the amount repayable beyond the next 12 months. The loan bears interest at a fixed rate of 2.5% per annum, with repayments scheduled periodically in accordance with the loan agreement. This financing arrangement provides the company with stable, long-term funding and is disclosed in line with applicable UK financial reporting standards. The directors are confident that the company will meet its repayment obligations over the loan’s duration.
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IMPERIAL UK CARS LIMITED Notes to the Accounts for the year ended 31 October 2023
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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