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Registered number: 06898943
Khans Autos Limited
Financial Statements
For The Year Ended 31 May 2024
JR Accounts
Chartered Certified Accountants
164-166 High Road
Ilford
Essex
IG1 1LL
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Director Mr Salim Khan
Company Number 06898943
Registered Office 164-166 High Road
Ilford
Essex
IG1 1LL
Accountants JR Accounts
Chartered Certified Accountants
164-166 High Road
Ilford
Essex
IG1 1LL
Page 1
Page 2
Balance Sheet
Registered number: 06898943
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 6,065 8,946
6,065 8,946
CURRENT ASSETS
Debtors 4 311 413
Cash at bank and in hand 1,043 11,025
1,354 11,438
Creditors: Amounts Falling Due Within One Year 5 (23,039 ) (35,443 )
NET CURRENT ASSETS (LIABILITIES) (21,685 ) (24,005 )
TOTAL ASSETS LESS CURRENT LIABILITIES (15,620 ) (15,059 )
NET LIABILITIES (15,620 ) (15,059 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (15,720 ) (15,159 )
SHAREHOLDERS' FUNDS (15,620) (15,059)
Page 2
Page 3
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
Mr Salim Khan
Director
8 January 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 straight line over 16 years
Plant & Machinery 15% reducing balance
Motor Vehicles 20% reducing balance
Computer Equipment 20% reducing balance
1.4. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
2. Average Number of Employees
Average number of employees, including the director, during the year was: 2 (2023: 2)
2 2
3. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 34,891 50,219 1,875 1,226 88,211
As at 31 May 2024 34,891 50,219 1,875 1,226 88,211
Depreciation
As at 1 June 2023 30,531 45,908 1,784 1,042 79,265
Provided during the period 2,180 646 18 37 2,881
As at 31 May 2024 32,711 46,554 1,802 1,079 82,146
Net Book Value
As at 31 May 2024 2,180 3,665 73 147 6,065
As at 1 June 2023 4,360 4,311 91 184 8,946
Page 4
Page 5
4. Debtors
2024 2023
£ £
Due within one year
Other debtors 311 413
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 9,301 9,861
Accruals and deferred income 1,140 4,900
Director's loan account 12,598 20,682
23,039 35,443
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5