Company No:
Contents
DIRECTORS | A Middleton |
J Middleton | |
M Middleton |
REGISTERED OFFICE | 3 Filers Way |
Weston Gateway Business Park | |
Weston-Super-Mare | |
BS24 7JP | |
United Kingdom |
COMPANY NUMBER | 09306536 (England and Wales) |
CHARTERED ACCOUNTANTS | Albert Goodman LLP |
3 Filers Way | |
Weston Gateway Business Park | |
Weston-super-Mare | |
Somerset | |
BS24 7JP |
Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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180,861 | 173,400 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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417,814 | 261,749 | |||
Creditors | ||||
Amounts falling due within one year | 6 | (
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Net current assets | 295,778 | 133,861 | ||
Total assets less current liabilities | 476,639 | 307,261 | ||
Creditors | ||||
Amounts falling due after more than one year | 7 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Middletons Motor Care Limited (registered number:
A Middleton
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Middletons Motor Care Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
During the year, other income of £5,186 was received from the government under the coronavirus job retention scheme. In addition a further grant of £1,264 was received by the in relation to the Bounce Back Loan scheme to whereby the government paid interest due for the first 12 months. The amount of grants recognised in the financial statements was £6,451 (2020: £65,156).
Goodwill | not amortised |
Land and buildings | not depreciated |
Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2021 |
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At 31 December 2021 |
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Accumulated amortisation | |||
At 01 January 2021 |
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At 31 December 2021 |
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Net book value | |||
At 31 December 2021 |
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At 31 December 2020 |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2021 |
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Additions |
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At 31 December 2021 |
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Accumulated depreciation | |||||
At 01 January 2021 |
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Charge for the financial year |
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At 31 December 2021 |
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Net book value | |||||
At 31 December 2021 |
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At 31 December 2020 |
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2021 | 2020 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2021 | 2020 | ||
£ | £ | ||
Trade creditors |
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Other creditors |
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Corporation tax |
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Other taxation and social security |
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2021 | 2020 | ||
£ | £ | ||
Bank loans |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
2021 | 2020 | ||
£ | £ | ||
Bank loans (repayable by instalments) |
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Transactions with the entity's directors
2021 | 2020 | ||
£ | £ | ||
Directors loan account | (2,824) | (14,808) |
The directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
At 1 January 2021, the balance was (£14,808). During the year, £303,332 was advanced to the directors, and £288,524 was repaid by the directors. The balance at 31 December 2021 was (£2,824)
At January 2020, the balance was (£36,670). During the year, £112,848 was advanced to the directors, and £90,985 was repaid by the directors. The balance at 31 December 2020 was (£14,808).