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REGISTERED NUMBER: 05708766 (England and Wales)















A. C. MOTORS TRADING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

29 FEBRUARY 2024






A. C. MOTORS TRADING LIMITED (REGISTERED NUMBER: 05708766)

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


A. C. MOTORS TRADING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Mr A Chrysostomou





SECRETARY:





REGISTERED OFFICE: Hale House
Unit 5
296A Green Lanes
Palmers Green
London
N13 5TP





REGISTERED NUMBER: 05708766 (England and Wales)





ACCOUNTANTS: T. PA Accountancy Services Limited
Hale House
Unit 5
296a Green Lanes
Palmers Green
London
N13 5TW

A. C. MOTORS TRADING LIMITED (REGISTERED NUMBER: 05708766)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 711 948

CURRENT ASSETS
Stocks 5 298,100 316,500
Debtors 6 106,282 118,126
Cash at bank and in hand 3,022 6,665
407,404 441,291
CREDITORS
Amounts falling due within one year 7 10,039 7,032
NET CURRENT ASSETS 397,365 434,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,076

435,207

CREDITORS
Amounts falling due after more than one
year

8

144,002

179,553
NET ASSETS 254,074 255,654

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 254,072 255,652
SHAREHOLDERS' FUNDS 254,074 255,654

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.

A. C. MOTORS TRADING LIMITED (REGISTERED NUMBER: 05708766)

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 30 November 2024 and were signed by:





Mr A Chrysostomou - Director


A. C. MOTORS TRADING LIMITED (REGISTERED NUMBER: 05708766)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

A. C. Motors Trading 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

A. C. MOTORS TRADING LIMITED (REGISTERED NUMBER: 05708766)

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 737 4,700 5,437
DEPRECIATION
At 1 March 2023 498 3,991 4,489
Charge for year 60 177 237
At 29 February 2024 558 4,168 4,726
NET BOOK VALUE
At 29 February 2024 179 532 711
At 28 February 2023 239 709 948

5. STOCKS
2024 2023
£    £   
Stocks 298,100 316,500

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
VAT 56,282 68,126

Amounts falling due after more than one year:
Other debtors 50,000 50,000

Aggregate amounts 106,282 118,126

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax payable 7,354 4,596
Social security and other taxes 36 154
Directors' current accounts 136 112
Accrued expenses 2,513 2,170
10,039 7,032

A. C. MOTORS TRADING LIMITED (REGISTERED NUMBER: 05708766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans more 5 yr by instal 34,041 38,693
Other loans - 1-2 years 109,961 140,860
144,002 179,553

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 34,041 38,693

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Retained
earnings
£   

At 1 March 2023 255,652
Profit for the year 15,420
Dividends (17,000 )
At 29 February 2024 254,072

11. RELATED PARTY DISCLOSURES



CONTROLLING PARTY

Mr A Chrysostomou, the sole director of the company, controls the company by virtue of holding 100% of the issued share capital,