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REGISTERED NUMBER: 05466653 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Expert Volkswagen Audi Ltd

Expert Volkswagen Audi Ltd (Registered number: 05466653)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Expert Volkswagen Audi Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTOR: S P Thornton





REGISTERED OFFICE: Unit 12, Theobalds Grove Station
High Street
Waltham Cross
Hertfordshire
EN8 7BG





REGISTERED NUMBER: 05466653 (England and Wales)





ACCOUNTANTS: Abbey Tax and Accountancy Limited
17 Caldbeck
Waltham Abbey
Essex
EN9 1UR

Expert Volkswagen Audi Ltd (Registered number: 05466653)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 33,721 8,696
33,721 8,696

CURRENT ASSETS
Stocks 7,500 7,500
Debtors 6 27,274 87,025
Cash at bank and in hand 60,431 13,947
95,205 108,472
CREDITORS
Amounts falling due within one year 7 52,143 66,440
NET CURRENT ASSETS 43,062 42,032
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,783

50,728

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 76,683 50,628
SHAREHOLDERS' FUNDS 76,783 50,728

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

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

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 15 January 2025 and were signed by:




S P Thornton - Director


Expert Volkswagen Audi Ltd (Registered number: 05466653)

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

1. STATUTORY INFORMATION

Expert Volkswagen Audi Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Expert Volkswagen Audi Ltd (Registered number: 05466653)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 50,000
AMORTISATION
At 1 August 2023
and 31 July 2024 50,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 22,987 22,886 8,999 54,872
Additions 4,850 31,416 - 36,266
At 31 July 2024 27,837 54,302 8,999 91,138
DEPRECIATION
At 1 August 2023 18,446 22,183 5,547 46,176
Charge for year 2,348 8,030 863 11,241
At 31 July 2024 20,794 30,213 6,410 57,417
NET BOOK VALUE
At 31 July 2024 7,043 24,089 2,589 33,721
At 31 July 2023 4,541 703 3,452 8,696

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 10,580 6,617
Directors' current accounts 13,784 37,498
Prepayments 2,910 42,910
27,274 87,025

Expert Volkswagen Audi Ltd (Registered number: 05466653)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 24,320 19,498
Tax 20,226 11,783
Social security and other taxes 559 496
VAT 6,168 4,596
Directors' current accounts - 29,167
Accrued expenses 870 900
52,143 66,440