Company Registration No. 12977648 (England and Wales)
OWG CARS LTD
Unaudited accounts
for the year ended 31 October 2024
OWG CARS LTD
Unaudited accounts
Contents
OWG CARS LTD
Company Information
for the year ended 31 October 2024
Company Number
12977648 (England and Wales)
Registered Office
331a Southampton Road
Titchfield
Fareham
Hampshire
PO14 4AY
England
Accountants
N L Accounting (South West) Ltd
Unit 7, Town Farm Workshops
Sixpenny Handley
Salisbury
Wiltshire
SP5 5PA
OWG CARS LTD
Statement of financial position
as at 31 October 2024
Tangible assets
16,811
5,209
Inventories
215,680
221,886
Cash at bank and in hand
37,381
21,436
Creditors: amounts falling due within one year
(269,652)
(290,950)
Net current liabilities
(23,780)
(26,208)
Net liabilities
(6,969)
(20,999)
Called up share capital
1
1
Profit and loss account
(6,970)
(21,000)
Shareholders' funds
(6,969)
(20,999)
For the year ending 31 October 2024 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 October 2025 and were signed on its behalf by
Mr O W Gowing
Director
Company Registration No. 12977648
OWG CARS LTD
Notes to the Accounts
for the year ended 31 October 2024
OWG CARS LTD is a private company, limited by shares, registered in England and Wales, registration number 12977648. The registered office is 331a Southampton Road, Titchfield, Fareham, Hampshire, PO14 4AY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing Balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2023
-
7,167
1,258
8,425
Additions
8,366
5,532
-
13,898
At 31 October 2024
8,366
12,699
1,258
22,323
At 1 November 2023
-
2,964
252
3,216
Charge for the year
1,255
840
201
2,296
At 31 October 2024
1,255
3,804
453
5,512
At 31 October 2024
7,111
8,895
805
16,811
At 31 October 2023
-
4,203
1,006
5,209
Finished goods
215,680
221,886
OWG CARS LTD
Notes to the Accounts
for the year ended 31 October 2024
Amounts falling due within one year
Trade debtors
(7,189)
21,420
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
75,594
106,989
Other creditors
5,243
11,886
Loans from directors
174,434
154,141
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).