Registered number
12310315
Nero Ward Motors Limited
Filleted Accounts for the year ended
30 November 2024
Nero Ward Motors Limited
Registered number: 12310315
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 451,292 449,196
Investments 4 20,134 20,134
471,426 469,330
Current assets
Debtors 5 10,656 24,920
Cash at bank and in hand 80 20
10,736 24,940
Creditors: amounts falling due within one year 6 (10,650) (12,260)
Net current assets 86 12,680
Total assets less current liabilities 471,512 482,010
Creditors: amounts falling due after more than one year 7 (688,850) (641,000)
Net liabilities (217,338) (158,990)
Capital and reserves
Called up share capital 100 100
Profit and loss account (217,438) (159,090)
Shareholder's funds (217,338) (158,990)
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 member has 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.
D Lakshitha-Praveen Weerasuriya
Director
Approved by the board on 31 July 2025
Nero Ward Motors 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:
Leasehold land and buildings over 50 years
Plant and machinery over 10 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. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2023 374,314 135,280 509,594
Additions 5,377 19,666 25,043
At 30 November 2024 379,691 154,946 534,637
Depreciation
At 1 December 2023 22,951 37,447 60,398
Charge for the year 7,594 15,353 22,947
At 30 November 2024 30,545 52,800 83,345
Net book value
At 30 November 2024 349,146 102,146 451,292
At 30 November 2023 351,363 97,833 449,196
4 Investments
Other
investments
£
Cost
At 1 December 2023 20,134
At 30 November 2024 20,134
5 Debtors 2024 2023
£ £
Trade debtors 8,971 22,571
Other debtors 1,685 2,349
10,656 24,920
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 8,391 10,460
Taxation and social security costs 459 -
Other creditors 1,800 1,800
10,650 12,260
7 Creditors: amounts falling due after one year 2024 2023
£ £
Director's loan 688,850 641,000
8 Transactions with director
Description B/fwd Paid Repaid C/fwd
£ £ £ £
D Lakshitha-Praveen Weerasuriya
01/12/2023 - Balance brought forward - - - 641,000
12/12/2023 - Loan to company - 10,000 - 651,000
25/01/2024 - Loan to company 5,000 - 656,000
22/02/2024 - Loan to company 5,000 - 661,000
09/04/2024 - Loan to company 2,500 - 663,500
17/05/2024 - Loan to company 2,500 - 666,000
10/07/2024 - Loan to company 2,200 - 668,200
17/07/2024 - Loan to company 2,500 - 670,700
24/07/2024 - Loan to company 2,000 - 672,700
08/08/2024 - Loan to company 1,500 - 674,200
10/08/2024 - Loan to company 4,500 - 678,700
05/09/2024 - Loan to company 1,500 - 680,200
10/09/2024 - Repaid from company - 9,600 670,600
11/09/2024 - Loan to company 4,000 - 674,600
15/09/2024 - Loan to company 12,000 - 686,600
13/11/2024 - Loan to company 1,500 - 688,100
23/11/2024 - Loan to company 750 - 688,850
- 57,450 9,600 688,850
9 Related party transactions
Included in director's loan is £688,850 (2023 - £641,000) on an interest free basis from the director Mr Don Lakshitha-Praveen Weerasuriya to the company.

The breakdown of the transfers that form the director's loan are scheduled in note 8.
10 Controlling party
The ultimate controlling party is the director D Lakshitha-Praveen Weerasuriya, who holds 100% of the issued share capital of the company.
11 Other information
Nero Ward Motors Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Old Court Mews
311 Chase Road
London
N14 6JS
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