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REGISTERED NUMBER: 11200934 (England and Wales)















AFFORDABLE NATIONAL CARS LIMITED

Unaudited Financial Statements for the Year Ended 29 February 2024






AFFORDABLE NATIONAL CARS LIMITED (REGISTERED NUMBER: 11200934)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

AFFORDABLE NATIONAL CARS LIMITED

Company Information
for the Year Ended 29 February 2024







DIRECTORS: JS Johal
RK Johal





SECRETARY: RK Johal





REGISTERED OFFICE: The Elms
Tollerton Lane
Tollerton
Nottingham
Nottinghamshire
NG12 4GB





REGISTERED NUMBER: 11200934 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

AFFORDABLE NATIONAL CARS LIMITED (REGISTERED NUMBER: 11200934)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,908 122

CURRENT ASSETS
Stocks 214,902 173,059
Debtors 5 50,000 165
Cash at bank 138,214 87,206
403,116 260,430
CREDITORS
Amounts falling due within one year 6 101,567 72,002
NET CURRENT ASSETS 301,549 188,428
TOTAL ASSETS LESS CURRENT
LIABILITIES

313,457

188,550

CREDITORS
Amounts falling due after more than one
year

7

(14,167

)

(24,167

)

PROVISIONS FOR LIABILITIES (2,977 ) -
NET ASSETS 296,313 164,383

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 296,213 164,283
SHAREHOLDERS' FUNDS 296,313 164,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

AFFORDABLE NATIONAL CARS LIMITED (REGISTERED NUMBER: 11200934)

Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





R Johal - Director


AFFORDABLE NATIONAL CARS LIMITED (REGISTERED NUMBER: 11200934)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

Affordable National Cars Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

AFFORDABLE NATIONAL CARS LIMITED (REGISTERED NUMBER: 11200934)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 350
Additions 13,683
At 29 February 2024 14,033
DEPRECIATION
At 1 March 2023 228
Charge for year 1,897
At 29 February 2024 2,125
NET BOOK VALUE
At 29 February 2024 11,908
At 28 February 2023 122

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 50,000 165

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security 68,698 35,321
Other creditors 32,869 36,681
101,567 72,002

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Other creditors 14,167 24,167

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Affordable National Cars Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Affordable National Cars Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Affordable National Cars Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Affordable National Cars Limited and state those matters that we have agreed to state to the Board of Directors of Affordable National Cars Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Affordable National Cars Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Affordable National Cars Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Affordable National Cars Limited. You consider that Affordable National Cars Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Affordable National Cars Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


21 November 2024