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REGISTERED NUMBER: 07554380 (England and Wales)

















AZ AUTOMOBILES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






AZ AUTOMOBILES LIMITED (REGISTERED NUMBER: 07554380)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


AZ AUTOMOBILES LIMITED (REGISTERED NUMBER: 07554380)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 85,448 120,907

CURRENT ASSETS
Stocks 51,764 53,325
Debtors 5 92,556 78,739
Cash at bank and in hand 1,956 125
146,276 132,189
CREDITORS
Amounts falling due within one year 6 117,999 135,600
NET CURRENT ASSETS/(LIABILITIES) 28,277 (3,411 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,725

117,496

CREDITORS
Amounts falling due after more than one
year

7

(85,654

)

(92,441

)

PROVISIONS FOR LIABILITIES (16,235 ) (15,338 )
NET ASSETS 11,836 9,717

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,736 9,617
11,836 9,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

AZ AUTOMOBILES LIMITED (REGISTERED NUMBER: 07554380)

BALANCE SHEET - continued
31 MAY 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 May 2025 and were signed by:





D C Alvarez - Director


AZ AUTOMOBILES LIMITED (REGISTERED NUMBER: 07554380)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

AZ Automobiles Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07554380

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The director has a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

AZ AUTOMOBILES LIMITED (REGISTERED NUMBER: 07554380)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

AZ AUTOMOBILES LIMITED (REGISTERED NUMBER: 07554380)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2023 101,350 54,119 59,041 214,510
Additions - - 15,500 15,500
Disposals (25,170 ) - (22,421 ) (47,591 )
At 31 May 2024 76,180 54,119 52,120 182,419
DEPRECIATION
At 1 June 2023 53,131 11,476 28,996 93,603
Charge for year 8,616 10,661 5,336 24,613
Eliminated on disposal (11,406 ) - (9,839 ) (21,245 )
At 31 May 2024 50,341 22,137 24,493 96,971
NET BOOK VALUE
At 31 May 2024 25,839 31,982 27,627 85,448
At 31 May 2023 48,219 42,643 30,045 120,907

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,319 6,646
Other debtors 82,237 72,093
92,556 78,739

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 52,094 46,962
Trade creditors 45,040 57,827
Taxation and social security 14,779 10,834
Other creditors 6,086 19,977
117,999 135,600

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 85,654 92,441

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,050 19,314

AZ AUTOMOBILES LIMITED (REGISTERED NUMBER: 07554380)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 35,606 24,106
Bank loans 16,488 22,856
52,094 46,962

Amounts falling due between one and two years:
Bank loans - 1-2 years 16,579 23,108

Amounts falling due between two and five years:
Bank loans - 2-5 years 54,025 50,019

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,050 19,314

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
D C Alvarez
Balance outstanding at start of year 53,642 19,394
Amounts advanced 86,149 49,248
Amounts repaid (80,656 ) (15,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 59,135 53,642

Interest on the overdrawn director's loan accounts is payable on a monthly basis at the official rate of interest, however there are no agreed repayment terms.

During the year interest was paid amounting to £920 in respect of the overdrawn director's loan accounts (2023: £564).