Registration number:
Sharps Autos Limited
for the Year Ended 30 April 2026
Sharps Autos Limited
(Registration number: 04072681)
Balance Sheet as at 30 April 2026
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Note |
2026 |
2025 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,002 |
1,002 |
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Retained earnings |
277,500 |
196,898 |
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Shareholders' funds |
278,502 |
197,900 |
For the financial year ending 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Sharps Autos Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of MOT and motor vehicle services and repairs. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Tax
The tax expense for the period comprises current tax payable.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Sharps Autos Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and equipment |
25% Straight line |
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Computer equipment |
20% Straight line |
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Fixtures and fittings |
20% Straight line |
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Motor vehicles |
25% Straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Sharps Autos Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026
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Tangible assets |
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Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 May 2025 |
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Additions |
- |
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- |
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Disposals |
- |
- |
- |
( |
( |
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At 30 April 2026 |
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Depreciation |
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At 1 May 2025 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
- |
( |
( |
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At 30 April 2026 |
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Carrying amount |
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At 30 April 2026 |
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At 30 April 2025 |
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Sharps Autos Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026
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Stocks |
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2026 |
2025 |
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Other inventories |
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Sharps Autos Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026
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Debtors |
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Current |
2026 |
2025 |
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Trade debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2026 |
2025 |
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Due within one year |
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Trade creditors |
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Amounts owed to related parties |
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- |
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Taxation and social security |
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Other creditors |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £