Registered number
04740236
G & L Motors Limited
Filleted Accounts
30 April 2024
G & L Motors Limited
Registered number: 04740236
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 87,945 103,110
Current assets
Stocks 8,330 8,330
Debtors 4 242,920 130,298
Cash at bank and in hand 92,361 256,832
343,611 395,460
Creditors: amounts falling due within one year 5 (115,089) (184,898)
Net current assets 228,522 210,562
Net assets 316,467 313,672
Capital and reserves
Called up share capital 100 100
Profit and loss account 316,367 313,572
Shareholders' funds 316,467 313,672
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S West
Director
Approved by the board on 21 January 2025
G & L Motors Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Office equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 - 111,487 22,726 134,213
Additions 1,233 9,240 9,450 19,923
At 30 April 2024 1,233 120,727 32,176 154,136
Depreciation
At 1 May 2023 - 22,297 8,806 31,103
Charge for the year 247 24,145 10,696 35,088
At 30 April 2024 247 46,442 19,502 66,191
Net book value
At 30 April 2024 986 74,285 12,674 87,945
At 30 April 2023 - 89,190 13,920 103,110
4 Debtors 2024 2023
£ £
Trade debtors 132,473 122,348
Prepayments 16,430 -
Other debtors 94,017 7,950
242,920 130,298
5 Creditors: amounts falling due within one year 2024 2023
£ £
Commercial card - 2,683
Trade creditors 51,408 113,280
PAYE payable 3,904 3,165
Taxation and social security costs 59,777 37,414
Other creditors - 28,356
115,089 184,898
6 Other information
G & L Motors Limited is a private company limited by shares and incorporated in England. Its registered office is:
Far Farm Garage
Kexby
York
YO41 5LA
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