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REGISTERED NUMBER: 06582403 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024

FOR

LOWERDALE AUTOS LIMITED

LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOWERDALE AUTOS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTOR: P Barrett





REGISTERED OFFICE: Taylor Row
Doncaster Road
Barnsley
South Yorkshire
S70 1HG





REGISTERED NUMBER: 06582403 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)

BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,399 21,425

CURRENT ASSETS
Stocks 5 203,475 173,626
Debtors 6 2,557 763
Cash at bank and in hand 3,046 22,028
209,078 196,417
CREDITORS
Amounts falling due within one year 7 149,206 141,885
NET CURRENT ASSETS 59,872 54,532
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,271

75,957

CREDITORS
Amounts falling due after more than one
year

8

(11,528

)

(21,679

)

PROVISIONS FOR LIABILITIES 10 (3,496 ) (4,071 )
NET ASSETS 63,247 50,207

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 63,147 50,107
SHAREHOLDERS' FUNDS 63,247 50,207

LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)

BALANCE SHEET - continued
30TH APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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 Profit & Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th January 2025 and were signed by:





P Barrett - Director


LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

Lowerdale Autos 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.
Plant and machinery - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Office & computer equipment - 33% on cost

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 Profit & Loss Account and Retained Earnings, 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.

LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Office &
Plant and Motor computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st May 2023 21,503 23,243 7,847 52,593
Additions 129 - - 129
At 30th April 2024 21,632 23,243 7,847 52,722
DEPRECIATION
At 1st May 2023 7,726 16,395 7,047 31,168
Charge for year 1,380 1,370 405 3,155
At 30th April 2024 9,106 17,765 7,452 34,323
NET BOOK VALUE
At 30th April 2024 12,526 5,478 395 18,399
At 30th April 2023 13,777 6,848 800 21,425

5. STOCKS
2024 2023
£    £   
Stocks 203,475 173,626

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,500 -
Prepayments 1,057 763
2,557 763

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 40,484 38,903
Trade creditors 12,401 1,514
Tax 6,805 9,587
VAT 11,265 7,919
Other creditors 1,522 566
Customer deposits 6,670 28,954
Directors' current accounts 66,743 51,372
Accrued expenses 3,316 3,070
149,206 141,885

LOWERDALE AUTOS LIMITED (REGISTERED NUMBER: 06582403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 11,528 21,679

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 30,484 29,103
Bank loans 10,000 9,800
40,484 38,903

Amounts falling due between one and two years:
Bank loans > 1 year 11,528 21,679

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,496 4,071

Deferred
tax
£   
Balance at 1st May 2023 4,071
Provided during year (575 )
Balance at 30th April 2024 3,496

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. RELATED PARTY DISCLOSURES

During the year the company paid rent of £14,300 (2023 : £14,300) to the Directors. This was done under normal commercial terms.

13. ULTIMATE CONTROLLING PARTY

The controlling party is P Barrett.