Aby Autos Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC485047 (Scotland)

Unaudited Financial Statements for the Year Ended 31 January 2020

for

Aby Autos Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A H Nawaz

REGISTERED OFFICE:

Suite 4F

Ingram House

227 Ingram Street

Glasgow

G1 1DA

REGISTERED NUMBER:

SC485047 (Scotland)

ACCOUNTANTS:

Key Professional Partnership Ltd

Suite 4f, Ingram House

227 Ingram Street

Glasgow

G1 1DA

FIXED ASSETS

Tangible assets

4

1,533

2,043

CURRENT ASSETS

Debtors

5

76,250

76,312

Cash at bank and in hand

3,825

26,678

80,075

102,990

CREDITORS

Amounts falling due within one year

6

48,569

104,627

NET CURRENT ASSETS/(LIABILITIES)

31,506

(1,637

)

TOTAL ASSETS LESS CURRENT LIABILITIES

33,039

406

CREDITORS

Amounts falling due after more than one year

7

32,200

-

NET ASSETS

839

406

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

739

306

SHAREHOLDERS' FUNDS

839

406

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 23 December 2020 and were signed by:

A H Nawaz - Director

1.	STATUTORY INFORMATION

Aby Autos Ltd is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 February 2019

and 31 January 2020

7,500

DEPRECIATION

At 1 February 2019

5,457

Charge for year

510

At 31 January 2020

5,967

NET BOOK VALUE

At 31 January 2020

1,533

At 31 January 2019

2,043

5.

DEBTORS

31.1.20

31.1.19

£

£

Amounts falling due within one year:

Trade debtors

15,150

15,150

Amounts owed by group undertakings

61,100

-

Directors' current accounts

-

1,162

76,250

16,312

Amounts falling due after more than one year:

Other debtors

-

60,000

Aggregate amounts

76,250

76,312

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Other loans

12,900

58,000

Trade creditors

22,621

22,219

Tax

9,748

9,554

Social security and other taxes

(2,548

)

3,484

VAT

4,883

10,435

Accrued expenses

965

935

48,569

104,627

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.20

31.1.19

£

£

Other loans - 2-5 years

32,200

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.20

31.1.19

value:

£

£

1

Ordinary

£1

100

100

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A H Nawaz.