Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false2023-02-01Vehicle Garage11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12427726 2023-02-01 2024-01-31 12427726 2022-02-01 2023-01-31 12427726 2024-01-31 12427726 2023-01-31 12427726 c:Director1 2023-02-01 2024-01-31 12427726 d:PlantMachinery 2023-02-01 2024-01-31 12427726 d:PlantMachinery 2024-01-31 12427726 d:PlantMachinery 2023-01-31 12427726 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12427726 d:MotorVehicles 2023-02-01 2024-01-31 12427726 d:MotorVehicles 2024-01-31 12427726 d:MotorVehicles 2023-01-31 12427726 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12427726 d:FurnitureFittings 2023-02-01 2024-01-31 12427726 d:FurnitureFittings 2024-01-31 12427726 d:FurnitureFittings 2023-01-31 12427726 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12427726 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12427726 d:CurrentFinancialInstruments 2024-01-31 12427726 d:CurrentFinancialInstruments 2023-01-31 12427726 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12427726 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12427726 d:ShareCapital 2024-01-31 12427726 d:ShareCapital 2023-01-31 12427726 d:RetainedEarningsAccumulatedLosses 2024-01-31 12427726 d:RetainedEarningsAccumulatedLosses 2023-01-31 12427726 c:FRS102 2023-02-01 2024-01-31 12427726 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 12427726 c:FullAccounts 2023-02-01 2024-01-31 12427726 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12427726 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 12427726










GE AUTOMOTIVE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
GE AUTOMOTIVE LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GE AUTOMOTIVE LTD
FOR THE YEAR ENDED 31 JANUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GE Automotive Ltd for the year ended 31 January 2024 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the director of GE Automotive Ltd in accordance with the terms of our engagement letter dated 24 October 2023Our work has been undertaken solely to prepare for your approval the financial statements of GE Automotive Ltd and state those matters that we have agreed to state to the director of GE Automotive Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GE Automotive Ltd and its director for our work or for this report. 

It is your duty to ensure that GE Automotive Ltd 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 loss of GE Automotive Ltd. You consider that GE Automotive Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of GE Automotive Ltd. 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.

  



MA Partners LLP
 
Chartered Accountants & Statutory Auditors
  
12 Church Street
Cromer
Norfolk
NR27 9ER
28 November 2024
Page 1

 
GE AUTOMOTIVE LTD
REGISTERED NUMBER: 12427726

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,256
23,026

  
17,256
23,026

Current assets
  

Stocks
  
2,500
2,500

Debtors: amounts falling due within one year
 5 
720
2,166

Cash at bank and in hand
 6 
1,818
5,817

  
5,038
10,483

Creditors: amounts falling due within one year
 7 
(46,363)
(52,222)

Net current liabilities
  
 
 
(41,325)
 
 
(41,739)

Total assets less current liabilities
  
(24,069)
(18,713)

  

Net liabilities
  
(24,069)
(18,713)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(24,071)
(18,715)

  
(24,069)
(18,713)


Page 2

 
GE AUTOMOTIVE LTD
REGISTERED NUMBER: 12427726
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 November 2024.


................................................
Gregory D Elgood
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
GE AUTOMOTIVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office and principal place of business is 12 Collers Way, Reepham, Norwich, NR10 4SW.
The company's principle activity is that of a garage.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
GE AUTOMOTIVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
GE AUTOMOTIVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 February 2023
22,072
7,681
3,072
32,825



At 31 January 2024

22,072
7,681
3,072
32,825



Depreciation


At 1 February 2023
3,889
4,180
1,730
9,799


Charge for the year on owned assets
4,554
878
338
5,770



At 31 January 2024

8,443
5,058
2,068
15,569



Net book value



At 31 January 2024
13,629
2,623
1,004
17,256

Page 6

 
GE AUTOMOTIVE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
145
2,166

Prepayments and accrued income
575
-

720
2,166



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,818
5,817

You Lend Loan
-
(587)

1,818
5,230



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

You Lend Loan
-
587

Trade creditors
1,320
-

Other creditors
43,657
49,049

Accruals and deferred income
1,386
2,586

46,363
52,222


 
Page 7