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Registered number: 14481812
L&c Automotive (Sussex) Limited
Unaudited ABRIDGED Financial Statements
For the Period 14 November 2022 to 30 November 2023
Eastbourne Accountants
First Floor
215 Seaside
Eastbourne
East Sussex
BN22 7NR
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3
Page 1
Abridged Balance Sheet
Registered number: 14481812
30 November 2023
Notes £ £
CURRENT ASSETS
Stocks 11,350
Debtors 4 5,097
Cash at bank and in hand 7,954
24,401
Creditors: Amounts Falling Due Within One Year (2,072 )
NET CURRENT ASSETS (LIABILITIES) 22,329
TOTAL ASSETS LESS CURRENT LIABILITIES 22,329
Creditors: Amounts Falling Due After More Than One Year (23,968 )
NET LIABILITIES (1,639 )
CAPITAL AND RESERVES
Called up share capital 5 100
Profit and Loss Account (1,739 )
SHAREHOLDERS' FUNDS (1,639)
Page 1
Page 2
For the period ending 30 November 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 November 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Charles Dunton
Director
7th November 2024
The notes on page 3 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
L&c Automotive (Sussex) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14481812 . The registered office is First Floor, 215 Seaside, Eastbourne, East Sussex, BN22 7NR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Debtors
30 November 2023
£
Due after more than one year
Other debtors 1,790
5. Share Capital
30 November 2023
£
Allotted, Called up and fully paid 100
6. Related Party Transactions
At the balance sheet date, the company owed its Directors £23,968. This balance is unsecured, interest free and holds no fixed repayment terms.
Page 3