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REGISTERED NUMBER: 13433788 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

AUTOCLASS LTD

AUTOCLASS LTD (REGISTERED NUMBER: 13433788)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AUTOCLASS LTD

Company Information
for the Year Ended 30 June 2023







DIRECTOR: R J Carroll





SECRETARY: R J Carroll





REGISTERED OFFICE: Unit H3 Tribune Road
Hanover Industrial Estate
Altrincham
Manchester
WA14 5RZ





REGISTERED NUMBER: 13433788 (England and Wales)





ACCOUNTANTS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF

AUTOCLASS LTD (REGISTERED NUMBER: 13433788)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,429 1,189

CURRENT ASSETS
Stocks 251,561 251,199
Debtors 5 74,454 48,953
Cash at bank 59,353 65,368
385,368 365,520
CREDITORS
Amounts falling due within one year 6 89,738 82,260
NET CURRENT ASSETS 295,630 283,260
TOTAL ASSETS LESS CURRENT
LIABILITIES

298,059

284,449

CREDITORS
Amounts falling due after more than one
year

7

259,953

283,353
NET ASSETS 38,106 1,096

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 38,105 1,095
SHAREHOLDERS' FUNDS 38,106 1,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 August 2023 and were signed by:





R J Carroll - Director


AUTOCLASS LTD (REGISTERED NUMBER: 13433788)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Autoclass Ltd is a private company, limited by shares , registered in England and Wales. 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 accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Tangible fixed assets are initially recorded at cost.

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 Statement of Income and Retained Earnings, 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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

AUTOCLASS LTD (REGISTERED NUMBER: 13433788)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 1,585
Additions 2,050
At 30 June 2023 3,635
DEPRECIATION
At 1 July 2022 396
Charge for year 810
At 30 June 2023 1,206
NET BOOK VALUE
At 30 June 2023 2,429
At 30 June 2022 1,189

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 33,840 14,150
Other debtors 40,614 34,803
74,454 48,953

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 1,595 -
Trade creditors 19,398 7,581
Taxation and social security 11,665 3,329
Other creditors 57,080 71,350
89,738 82,260

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Other creditors 259,953 283,353

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 30.6.22
£    £   
Within one year 41,110 41,110
Between one and five years 97,667 143,885
138,777 184,995