Company registration number 09967441 (England and Wales)
AUTO SHINY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
AUTO SHINY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
AUTO SHINY LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
19,844
24,558
Current assets
Stocks
44,080
51,204
Debtors
4
1,532
1,296
Cash at bank and in hand
10,672
594
56,284
53,094
Creditors: amounts falling due within one year
5
(91,520)
(82,776)
Net current liabilities
(35,236)
(29,682)
Net liabilities
(15,392)
(5,124)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(15,393)
(5,125)
Total equity
(15,392)
(5,124)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 and signed by the director and authorised for issue on 21 October 2024
Shakwan Abdullah
Director
Company registration number 09967441 (England and Wales)
AUTO SHINY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information
Auto Shiny Limited is a private company limited by shares incorporated in England and Wales. The registered office is Saturn Facility Centre, Unit W2 Ground Floor, Bissell Street, Birmingham, West Midlands, UK, B5 7HP.
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, The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
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.
1.4
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:
Plant and equipment
18% on reducing balance
Fixtures and fittings
18% on reducing balance
Motor vehicles
20% on 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.
1.5
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
AUTO SHINY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2023 and 31 January 2024
13,784
615
26,405
40,804
Depreciation and impairment
At 1 February 2023
4,009
427
11,811
16,247
Depreciation charged in the year
1,760
34
2,919
4,713
At 31 January 2024
5,769
461
14,730
20,960
Carrying amount
At 31 January 2024
8,015
154
11,675
19,844
At 31 January 2023
9,776
188
14,594
24,558
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,532
1,296
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
322
1,742
Corporation tax
1,012
1,012
Other taxation and social security
16,643
16,530
Other creditors
73,543
63,492
91,520
82,776
6
Ultimate Controlling Party
The controlling party is Shakwan Abdullah.