Acorah Software Products - Accounts Production 16.0.110 false true true false 28 February 2023 28 February 2024 28 February 2024 14695078 Mr D A Shah Mr I B Malik Mr M N Somani iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14695078 2023-02-27 14695078 2024-02-28 14695078 2023-02-28 2024-02-28 14695078 frs-core:ComputerEquipment 2023-02-28 2024-02-28 14695078 frs-core:FurnitureFittings 2023-02-28 2024-02-28 14695078 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 2024-02-28 14695078 frs-core:PlantMachinery 2023-02-28 2024-02-28 14695078 frs-core:ShareCapital 2024-02-28 14695078 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 14695078 frs-bus:PrivateLimitedCompanyLtd 2023-02-28 2024-02-28 14695078 frs-bus:AbridgedAccounts 2023-02-28 2024-02-28 14695078 frs-bus:SmallEntities 2023-02-28 2024-02-28 14695078 frs-bus:AuditExempt-NoAccountantsReport 2023-02-28 2024-02-28 14695078 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-28 2024-02-28 14695078 frs-bus:Director1 2023-02-28 2024-02-28 14695078 frs-bus:Director2 2023-02-28 2024-02-28 14695078 frs-bus:Director3 2023-02-28 2024-02-28 14695078 frs-countries:EnglandWales 2023-02-28 2024-02-28
Registered number: 14695078
Auto Value Car Parts UK Ltd
ABRIDGED Financial Statements
For the Period 28 February 2023 to 28 February 2024
Contents
Page
Abridged Statement of Financial Position 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Statement of Financial Position
Registered number: 14695078
28 February 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 339,824
339,824
CURRENT ASSETS
Stocks 521,708
Debtors 555,622
Cash at bank and in hand 46,861
1,124,191
Creditors: Amounts Falling Due Within One Year (1,402,172 )
NET CURRENT ASSETS (LIABILITIES) (277,981 )
TOTAL ASSETS LESS CURRENT LIABILITIES 61,843
NET ASSETS 61,843
CAPITAL AND RESERVES
Called up share capital 5 1,260
Income Statement 60,583
SHAREHOLDERS' FUNDS 61,843
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Page 2
For the period ending 28 February 2024 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 Income Statement.
All of the company's members have consented to the preparation of an Abridged Statement of Financial Position for the year end 28 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr D A Shah
Director
Mr I B Malik
Director
Mr M N Somani
Director
14/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Abridged Financial Statements
1. General Information
Auto Value Car Parts UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14695078 . The registered office is Unit 25 Fleetway Business Park, 12-14 Wadsworth Road, Perivale, Middlesex, UB6 7LD.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight Line
Plant & Machinery 25% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.5. 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: 16
16
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4. Tangible Assets
Total
£
Cost
As at 28 February 2023 -
Additions 391,886
As at 28 February 2024 391,886
Depreciation
As at 28 February 2023 -
Provided during the period 52,062
As at 28 February 2024 52,062
Net Book Value
As at 28 February 2024 339,824
As at 28 February 2023 -
5. Share Capital
28 February 2024
£
Allotted, Called up and fully paid 1,260
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