BrightAccountsProduction v1.0.0 v1.0.0 2022-05-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts Sale of cars. 10 December 2024 07589518 2023-04-30 07589518 2022-04-30 07589518 2021-04-30 07589518 2022-05-01 2023-04-30 07589518 2021-05-01 2022-04-30 07589518 uk-bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 07589518 uk-curr:PoundSterling 2022-05-01 2023-04-30 07589518 uk-bus:AbridgedAccounts 2022-05-01 2023-04-30 07589518 uk-core:ShareCapital 2023-04-30 07589518 uk-core:ShareCapital 2022-04-30 07589518 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 07589518 uk-core:RetainedEarningsAccumulatedLosses 2022-04-30 07589518 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-04-30 07589518 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-04-30 07589518 uk-bus:FRS102 2022-05-01 2023-04-30 07589518 uk-core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 07589518 uk-core:MotorVehicles 2022-05-01 2023-04-30 07589518 2022-05-01 2023-04-30 07589518 uk-bus:Director1 2022-05-01 2023-04-30 07589518 uk-bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
UK Motor Imports (Irl) Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 April 2023



UK Motor Imports (Irl) Limited
Company Registration Number: 07589518
ABRIDGED STATEMENT OF FINANCIAL POSITION
as at 30 April 2023

2023 2022
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 42,026 53,050
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Current Assets
Stocks 120,000 109,000
Debtors 1,715,351 1,319,147
Cash and cash equivalents 13 69
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1,835,364 1,428,216
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Creditors: amounts falling due within one year (1,743,974) (1,192,575)
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Net Current Assets 91,390 235,641
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Total Assets less Current Liabilities 133,416 288,691
 
Creditors:
amounts falling due after more than one year (32,834) (53,295)
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Net Assets 100,582 235,396
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Capital and Reserves
Called up share capital 100 100
Retained earnings 100,482 235,296
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Equity attributable to owners of the company 100,582 235,396
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Income Statement and Director's Report.
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 10 December 2024
           
           
________________________________          
Mr. Cornelius Slattery          
Director          
           



UK Motor Imports (Irl) Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 April 2023

   
1. General Information
 
UK Motor Imports (Irl) Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 07589518. The registered office of the company is 3rd Floor, 1 Mann Island, Liverpool, L3 1BP which is also the principal place of business of the company. Sale of cars. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 30 April 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 25% Reducing balance
  Motor vehicles - 25% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 5, (2022 - 5).
 
  2023 2022
  Number Number
 
Administration 4 4
Management 1 1
  ───────── ─────────
  5 5
  ═════════ ═════════
         
4. Property, plant and equipment
  Fixtures, Motor Total
  fittings and vehicles  
  equipment    
  £ £ £
Cost
At 1 May 2022 11,042 71,183 82,225
Additions 2,984 - 2,984
  ───────── ───────── ─────────
At 30 April 2023 14,026 71,183 85,209
  ───────── ───────── ─────────
Depreciation
At 1 May 2022 3,657 25,518 29,175
Charge for the financial year 2,592 11,416 14,008
  ───────── ───────── ─────────
At 30 April 2023 6,249 36,934 43,183
  ───────── ───────── ─────────
Net book value
At 30 April 2023 7,777 34,249 42,026
  ═════════ ═════════ ═════════
At 30 April 2022 7,385 45,665 53,050
  ═════════ ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 April 2023.
   
6. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.