Registered number
09634772
G & L Motors Cheltenham Limited
Filleted Accounts
31 March 2025
G & L Motors Cheltenham Limited
Registered number: 09634772
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 - 1,635
Current assets
Debtors 5 4,793 3,500
Cash at bank and in hand 7,578 39,129
12,371 42,629
Creditors: amounts falling due within one year 6 (739) (5,588)
Net current assets 11,632 37,041
Total assets less current liabilities 11,632 38,676
Creditors: amounts falling due after more than one year 7 (7,333) -
Net assets 4,299 38,676
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,199 38,576
Shareholders' funds 4,299 38,676
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.
J Lozynsky
Director
Approved by the board on 30 April 2025
G & L Motors Cheltenham Limited
Notes to the Accounts
for the year ended 31 March 2025
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:
Workshop tools over 4 years
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.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2024 10,000
Disposals (10,000)
At 31 March 2025 -
Amortisation
At 1 April 2024 10,000
On disposals (10,000)
At 31 March 2025 -
Net book value
At 31 March 2025 -
4 Tangible fixed assets
Workshop tools
£
Cost
At 1 April 2024 6,100
Disposals (6,100)
At 31 March 2025 -
Depreciation
At 1 April 2024 4,465
Charge for the year 610
On disposals (5,075)
At 31 March 2025 -
Net book value
At 31 March 2025 -
At 31 March 2024 1,635
5 Debtors 2025 2024
£ £
Trade debtors - 3,500
Other debtors 4,793 -
4,793 3,500
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors - 1,000
Taxation and social security costs 739 2,588
Other creditors - 2,000
739 5,588
7 Creditors: amounts falling due after one year 2025 2024
£ £
Directors loan account 7,333 -
8 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 6,600 6,600
9 Controlling party
The company is controled by the director.
10 Other information
G & L Motors Cheltenham Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit One
47 Brunswick Street
Cheltenham
Glos
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