West Motors London Ltd - Accounts

West Motors London Ltd - Accounts

WEST MOTORS LONDON LTD - Company Information

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Registered Number: 09476952
England and Wales

 

 

 

WEST MOTORS LONDON LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2021

End date: 31 March 2022

West Motors London Ltd
Contents Page
For the year ended 31 March 2022
Accountants report
You consider that the company is exempt from an audit for the year ended 31 March 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



....................................................
RCi Chartered Accountants & Business Advisors
Windsor House
9-15 Adelaide Street
Luton
LU1 5BJ
28 December 2022
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 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 2,336    2,920 
2,336    2,920 
Current assets      
Stocks 1,847,169    1,242,133 
Debtors 141,000    10,000 
Cash at bank and in hand 279,603    409,776 
2,267,772    1,661,909 
Creditors: amount falling due within one year (1,506,933)   (256,211)
Net current assets 760,839    1,405,698 
 
Total assets less current liabilities 763,175    1,408,618 
Creditors: amount falling due after more than one year (204,686)   (1,050,583)
Net assets 558,489    358,035 
 

Capital and reserves 		     
Called up share capital 3,000    3,000 
Profit and loss account 555,489    355,035 
Shareholder's funds 558,489    358,035 
 


For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 28 December 2022 and were signed on its behalf by:


--------------------------------
Mhd Yazan Altaylouni
Director
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General Information
West Motors London Ltd is a private company, limited by shares, registered in England and Wales, registration number 09476952, registration address Windsor House, 9-15 Adelaide Street, Luton, Bedfordshire, LU1 5BJ. The trading address of the company is Rear Yards, Packet Boat Lane, Uxbridge, UB8 2JR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 7 (2021 : 4).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2021 3,259    1,421    4,680 
Additions -    -    - 
Disposals -    -    - 
At 31 March 2022 3,259    1,421    4,680 
Depreciation
At 01 April 2021 1,563    197    1,760 
Charge for year 339    245    584 
On disposals -    -    - 
At 31 March 2022 1,902    442    2,344 
Net book values
Closing balance as at 31 March 2022 1,357    979    2,336 
Opening balance as at 01 April 2021 1,696    1,224    2,920 


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