LS CAR SALES LIMITED

Company Registration Number:
10879138 (England and Wales)

Unaudited statutory accounts for the year ended 30 July 2024

Period of accounts

Start date: 31 July 2023

End date: 30 July 2024

LS CAR SALES LIMITED

Contents of the Financial Statements

for the Period Ended 30 July 2024

Balance sheet
Additional notes
Balance sheet notes

LS CAR SALES LIMITED

Balance sheet

As at 30 July 2024

Notes 2024 2023


£

£
Current assets
Stocks: 3 88,287 89,127
Debtors: 4 80,187 92,187
Cash at bank and in hand: 3,229 4,254
Total current assets: 171,703 185,568
Creditors: amounts falling due within one year: 5 ( 114,507 ) ( 118,974 )
Net current assets (liabilities): 57,196 66,594
Total assets less current liabilities: 57,196 66,594
Creditors: amounts falling due after more than one year: 6 ( 39,649 ) ( 50,623 )
Total net assets (liabilities): 17,547 15,971
Capital and reserves
Called up share capital: 100 2
Profit and loss account: 17,447 15,969
Total Shareholders' funds: 17,547 15,971

The notes form part of these financial statements

LS CAR SALES LIMITED

Balance sheet statements

For the year ending 30 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 3 April 2025
and signed on behalf of the board by:

Name: S Gadsden
Status: Director

The notes form part of these financial statements

LS CAR SALES LIMITED

Notes to the Financial Statements

for the Period Ended 30 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

LS CAR SALES LIMITED

Notes to the Financial Statements

for the Period Ended 30 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

LS CAR SALES LIMITED

Notes to the Financial Statements

for the Period Ended 30 July 2024

3. Stocks

2024 2023
£ £
Stocks 88,287 89,127
Total 88,287 89,127

LS CAR SALES LIMITED

Notes to the Financial Statements

for the Period Ended 30 July 2024

4. Debtors

2024 2023
£ £
Other debtors 80,187 92,187
Total 80,187 92,187

LS CAR SALES LIMITED

Notes to the Financial Statements

for the Period Ended 30 July 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 2,505 3,755
Taxation and social security 2,687 7,116
Other creditors 109,315 108,103
Total 114,507 118,974

LS CAR SALES LIMITED

Notes to the Financial Statements

for the Period Ended 30 July 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 39,649 50,623
Total 39,649 50,623