MS Supercars Limited - Accounts to registrar (filleted) - small 22.3
MS Supercars Limited - Accounts to registrar (filleted) - small 22.3
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 August 2022 |
for |
MS Supercars Limited |
MS Supercars Limited (Registered number: 09730796) |
Contents of the Financial Statements |
for the Year Ended 31 August 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MS Supercars Limited |
Company Information |
for the Year Ended 31 August 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Willoughton Place |
Wharton Close |
Gainsborough |
Lincolnshire |
DN21 1EB |
MS Supercars Limited (Registered number: 09730796) |
Balance Sheet |
31 August 2022 |
31.8.22 | 31.8.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
MS Supercars Limited (Registered number: 09730796) |
Balance Sheet - continued |
31 August 2022 |
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 |
MS Supercars Limited (Registered number: 09730796) |
Notes to the Financial Statements |
for the Year Ended 31 August 2022 |
1. | STATUTORY INFORMATION |
MS Supercars Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Computer equipment | - |
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. |
Due to the immaterial amounts involved there was no provision made at the year end. |
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 |
MS Supercars Limited (Registered number: 09730796) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2022 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 September 2021 |
Additions |
At 31 August 2022 |
DEPRECIATION |
At 1 September 2021 |
Charge for year |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.22 | 31.8.21 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.22 | 31.8.21 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Trade creditors |
Tax |
VAT | 6,485 | 5,453 |
Other creditors |
Directors' current accounts | 190,432 | 9 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.22 | 31.8.21 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
MS Supercars Limited (Registered number: 09730796) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31.8.22 | 31.8.21 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 15,248 | 20,827 |
8. | ULTIMATE CONTROLLING PARTY |
The controlling party is M Sanchez. |
At the balance sheet date the amount owed by the company to the director was £190,432 (2021 - £9). |