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REGISTERED NUMBER: 05612547 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

G & L AUTO SPARES LIMITED

G & L AUTO SPARES LIMITED (REGISTERED NUMBER: 05612547)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G & L AUTO SPARES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mrs L K Watchorn
G Watchorn





REGISTERED OFFICE: The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ





REGISTERED NUMBER: 05612547 (England and Wales)





ACCOUNTANTS: Affinia (Colchester)
The Octagon
Suite 2E, 2nd Floor
Middleborough
Colchester
Essex
CO1 1TG

G & L AUTO SPARES LIMITED (REGISTERED NUMBER: 05612547)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,654 63,273
Investment property 5 753,756 753,756
807,410 817,029

CURRENT ASSETS
Stocks 60,000 60,000
Debtors 6 65,577 57,645
Cash at bank and in hand 479,915 564,601
605,492 682,246
CREDITORS
Amounts falling due within one year 7 1,391,655 1,424,238
NET CURRENT LIABILITIES (786,163 ) (741,992 )
TOTAL ASSETS LESS CURRENT LIABILITIES 21,247 75,037

PROVISIONS FOR LIABILITIES 10,195 12,022
NET ASSETS 11,052 63,015

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10,952 62,915
SHAREHOLDERS' FUNDS 11,052 63,015

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

G & L AUTO SPARES LIMITED (REGISTERED NUMBER: 05612547)

BALANCE SHEET - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2025 and were signed on its behalf by:





Mrs L K Watchorn - Director


G & L AUTO SPARES LIMITED (REGISTERED NUMBER: 05612547)

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

1. STATUTORY INFORMATION

G & L Auto Spares 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.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment properties are shown at cost. The director deems this to be an accurate valuation as at the balance sheet.

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

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.

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.

G & L AUTO SPARES LIMITED (REGISTERED NUMBER: 05612547)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023
and 31 October 2024 227,034
DEPRECIATION
At 1 November 2023 163,761
Charge for year 9,619
At 31 October 2024 173,380
NET BOOK VALUE
At 31 October 2024 53,654
At 31 October 2023 63,273

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 753,756
NET BOOK VALUE
At 31 October 2024 753,756
At 31 October 2023 753,756

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 52,400 46,095
Other debtors 13,177 11,550
65,577 57,645

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 222 18,106
Taxation and social security 39,493 44,876
Other creditors 1,351,940 1,361,256
1,391,655 1,424,238