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REGISTERED NUMBER: 06511708 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Gin's Auto Centre Limited

Gin's Auto Centre Limited (Registered number: 06511708)






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 Certified Accountants' Report 7

Gin's Auto Centre Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: C D Lewis





REGISTERED OFFICE: 59 Cobden Street
Leicester
Leicestershire
LE1 2LB





REGISTERED NUMBER: 06511708 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

Gin's Auto Centre Limited (Registered number: 06511708)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 9,395 13,947
9,395 13,947

CURRENT ASSETS
Stocks 13,230 15,095
Debtors 6 180,500 146,941
Cash at bank 1,461 11,559
195,191 173,595
CREDITORS
Amounts falling due within one year 7 169,483 145,792
NET CURRENT ASSETS 25,708 27,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,103

41,750

CREDITORS
Amounts falling due after more than one
year

8

54,646

61,356
NET LIABILITIES (19,543 ) (19,606 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (20,543 ) (20,606 )
SHAREHOLDERS' FUNDS (19,543 ) (19,606 )

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 director acknowledges his 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.

Gin's Auto Centre Limited (Registered number: 06511708)

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 director and authorised for issue on 22 November 2024 and were signed by:





C D Lewis - Director


Gin's Auto Centre Limited (Registered number: 06511708)

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

1. STATUTORY INFORMATION

Gin's Auto Centre 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.

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.

Goodwill
Goodwill related to the acquisition of a business in 2009 and was fully amortised over five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on cost and 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Gin's Auto Centre Limited (Registered number: 06511708)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 243,255
AMORTISATION
At 1 March 2023
and 29 February 2024 243,255
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2023 38,104 3,071 5,600 46,775
Additions - 134 - 134
At 29 February 2024 38,104 3,205 5,600 46,909
DEPRECIATION
At 1 March 2023 27,429 2,799 2,600 32,828
Charge for year 3,753 183 750 4,686
At 29 February 2024 31,182 2,982 3,350 37,514
NET BOOK VALUE
At 29 February 2024 6,922 223 2,250 9,395
At 28 February 2023 10,675 272 3,000 13,947

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 10,005 5,060
Amounts owed by group undertakings 154,999 126,447
Other debtors 15,496 15,434
180,500 146,941

Gin's Auto Centre Limited (Registered number: 06511708)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 5,556 5,556
Trade creditors 88,656 106,242
Taxation and social security 34,916 24,916
Other creditors 40,355 9,078
169,483 145,792

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 34,646 41,356
Other creditors 20,000 20,000
54,646 61,356

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,423 19,133

9. GOING CONCERN

The director, having considered ongoing trade and cashflow forecasts has prepared the accounts on a going concern basis. Having weathered significant challenges to trade through the COVID-19 pandemic and cost of goods with supply difficulties and cost increases resulting from Russia's war in Ukraine and other worldwide issues the director continues to support the business in meeting its ongoing financial obligations and servicing of debts with an expectation of positive cashflow 2024/25.

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Gin's Auto Centre Limited

The following reproduces the text of the report prepared for the director 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 Director 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 Gin's Auto Centre 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Gin's Auto Centre Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gin's Auto Centre Limited and state those matters that we have agreed to state to the director of Gin's Auto Centre Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Gin's Auto Centre 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 Gin's Auto Centre Limited. You consider that Gin's Auto Centre 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 Gin's Auto Centre 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.






Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ


22 November 2024