Registered number
11045639
AK MANOR CARS LIMITED
Filleted Accounts
30 November 2024
AK MANOR CARS LIMITED
Registered number: 11045639
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 75,019 81,774
Current assets
Cash at bank and in hand 64,273 15,907
Creditors: amounts falling due within one year 4 (96,194) (64,958)
Net current liabilities (31,921) (49,051)
Total assets less current liabilities 43,098 32,723
Creditors: amounts falling due after more than one year 5 (32,965) (33,080)
Net assets/(liabilities) 10,133 (357)
Capital and reserves
Called up share capital 100 100
Profit and loss account 10,033 (457)
Shareholders' funds 10,133 (357)
The director is 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 director acknowledges his 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 IMTIAZ AHMED
Director
Approved by the board on 14 February 2025
AK MANOR CARS LIMITED
Notes to the Accounts
for the year ended 30 November 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicle 25% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 13
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 37,352 98,811 136,163
Additions - 15,417 15,417
At 30 November 2024 37,352 114,228 151,580
Depreciation
At 1 December 2023 16,092 38,297 54,389
Charge for the year 3,189 18,983 22,172
At 30 November 2024 19,281 57,280 76,561
Net book value
At 30 November 2024 18,071 56,948 75,019
At 30 November 2023 21,260 60,514 81,774
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,512 10,800
Obligations under finance lease and hire purchase contracts 20,181 4,858
Trade creditors 25,511 25,213
Taxation and social security costs 34,458 18,994
Other creditors 5,532 5,093
96,194 64,958
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,488 13,648
Obligations under finance lease and hire purchase contracts 28,477 19,432
32,965 33,080
6 Other information
AK MANOR CARS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
UNIT 8, LEVISS INDUSTRIAL ESTATE
OLD STATION ROAD, STECHFORD
BIRMINGHAM
WEST MIDLANDS
B33 9AE
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