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REGISTERED NUMBER: 14488855 (England and Wales)















ACN AUTOMOTIVE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024






ACN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 14488855)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACN AUTOMOTIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: N Neophytou
A Neophytou





REGISTERED OFFICE: 125-127 Lordship Lane
London
N17 6XE





REGISTERED NUMBER: 14488855 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

ACN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 14488855)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 77,722 58,813
Cash at bank 194 73,639
77,916 132,452
CREDITORS
Amounts falling due within one year 5 119,855 207,684
NET CURRENT LIABILITIES (41,939 ) (75,232 )
TOTAL ASSETS LESS CURRENT LIABILITIES (41,939 ) (75,232 )

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings (42,039 ) (75,332 )
SHAREHOLDERS' FUNDS (41,939 ) (75,232 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





N Neophytou - Director


ACN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 14488855)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

ACN Automotive 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.

At the balance sheet date the company had net current liabilities of £41,939 (2023: £75,232). The directors and shareholders have indicated that they will continue to support the company, and provide funds if required, until such time as the company is trading as a going concern. This support will continue for a period of at least twelve months from the date of approval of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 77,722 46,729
Other debtors - 12,084
77,722 58,813

ACN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 14488855)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 25,000
Trade creditors 51,567 60,734
Amounts owed to group undertakings 59,525 120,000
Taxation and social security 5,313 -
Other creditors 3,450 1,950
119,855 207,684

6. CALLED UP SHARE CAPITAL

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