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REGISTERED NUMBER: 03158320 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Green Lane Motor Spares Limited

Green Lane Motor Spares Limited (Registered number: 03158320)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Green Lane Motor Spares Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr V K Rathod
Mr V Rathod
Mrs R V Rathod
Mr N Rathod
Mr M Rathod





SECRETARY: Mrs R V Rathod





REGISTERED OFFICE: 41A Green Lane
Ilford
Essex
IG1 1XG





REGISTERED NUMBER: 03158320 (England and Wales)






Green Lane Motor Spares Limited (Registered number: 03158320)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 792 1,056

CURRENT ASSETS
Stocks 5 31,250 32,500
Debtors 6 11,293 5,265
Cash at bank and in hand 1,238,535 1,064,267
1,281,078 1,102,032
CREDITORS
Amounts falling due within one year 7 489,942 439,465
NET CURRENT ASSETS 791,136 662,567
TOTAL ASSETS LESS CURRENT
LIABILITIES

791,928

663,623

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 791,828 663,523
791,928 663,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 11 October 2024 and were signed on its behalf by:





Mr V K Rathod - Director


Green Lane Motor Spares Limited (Registered number: 03158320)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Green Lane Motor Spares 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

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings Equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 19,733 2,413 22,146
DEPRECIATION
At 1 April 2023 19,695 1,395 21,090
Charge for year 10 254 264
At 31 March 2024 19,705 1,649 21,354
NET BOOK VALUE
At 31 March 2024 28 764 792
At 31 March 2023 38 1,018 1,056

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 31,250 32,500

Green Lane Motor Spares Limited (Registered number: 03158320)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 9,869 3,945
Prepayments 1,424 1,320
11,293 5,265

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 22,750 22,250
Tax 64,185 38,078
Social security and other taxes 1,709 1,223
VAT 20,963 16,927
Other creditors 5,563 4,627
Directors' current accounts 373,022 354,610
Accrued expenses 1,750 1,750
489,942 439,465