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Company Registration No. 10759025 (England and Wales)
UK ART CAR SALES LIMITED Unaudited accounts for the year ended 31 May 2025
UK ART CAR SALES LIMITED Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
354
451
Current assets
Inventories
15,890
22,645
Cash at bank and in hand
5,826
9,135
21,716
31,780
Creditors: amounts falling due within one year
(76,088)
(70,331)
Net current liabilities
(54,372)
(38,551)
Total assets less current liabilities
(54,018)
(38,100)
Creditors: amounts falling due after more than one year
(58)
(9,886)
Provisions for liabilities
Deferred tax
(68)
(86)
Net liabilities
(54,144)
(48,072)
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
(54,244)
(48,172)
Shareholders' funds
(54,144)
(48,072)
For the year ending 31 May 2025 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 of Directors and authorised for issue on 30 June 2025 and were signed on its behalf by
Iram Shahzadi Director Company Registration No. 10759025
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UK ART CAR SALES LIMITED Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
UK ART CAR SALES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10759025. The registered office is UK ART CAR SALES LTD, JOWETT STREET, BRADFORD, BD1 2JX, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents net invoiced sale of goods, excluding value added tax.
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:
Plant & machinery
20% on reducing balance
Computer equipment
25% on reducing balance
Inventories
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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UK ART CAR SALES LIMITED Notes to the Accounts for the year ended 31 May 2025
4
Tangible fixed assets
Total
£
Cost or valuation
At 1 June 2024
2,500
At 31 May 2025
2,500
Depreciation
At 1 June 2024
2,049
Charge for the year
97
At 31 May 2025
2,146
Net book value
At 31 May 2025
354
At 31 May 2024
451
5
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
6
Average number of employees
During the year the average number of employees was 4 (2024: 4).
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