Auto Entry Limited SC594462 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is Electrical Installation. Digita Accounts Production Advanced 6.30.9574.0 true SC594462 2022-05-01 2023-04-30 SC594462 2023-04-30 SC594462 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-30 SC594462 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC594462 core:ShareCapital 2023-04-30 SC594462 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 SC594462 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 SC594462 core:CurrentFinancialInstruments 2023-04-30 SC594462 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 SC594462 core:Non-currentFinancialInstruments 2023-04-30 SC594462 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 SC594462 core:MotorVehicles 2023-04-30 SC594462 core:OtherPropertyPlantEquipment 2023-04-30 SC594462 1 2023-04-30 SC594462 bus:SmallEntities 2022-05-01 2023-04-30 SC594462 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC594462 bus:FullAccounts 2022-05-01 2023-04-30 SC594462 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 SC594462 bus:RegisteredOffice 2022-05-01 2023-04-30 SC594462 bus:Director1 2022-05-01 2023-04-30 SC594462 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-05-01 2023-04-30 SC594462 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC594462 bus:Agent1 2022-05-01 2023-04-30 SC594462 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 SC594462 core:MotorVehicles 2022-05-01 2023-04-30 SC594462 core:OtherPropertyPlantEquipment 2022-05-01 2023-04-30 SC594462 1 2022-05-01 2023-04-30 SC594462 countries:Scotland 2022-05-01 2023-04-30 SC594462 2022-04-30 SC594462 core:MotorVehicles 2022-04-30 SC594462 core:OtherPropertyPlantEquipment 2022-04-30 SC594462 2021-05-01 2022-04-30 SC594462 2022-04-30 SC594462 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-04-30 SC594462 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC594462 core:ShareCapital 2022-04-30 SC594462 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-04-30 SC594462 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-04-30 SC594462 core:CurrentFinancialInstruments 2022-04-30 SC594462 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 SC594462 core:Non-currentFinancialInstruments 2022-04-30 SC594462 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 SC594462 core:MotorVehicles 2022-04-30 SC594462 core:OtherPropertyPlantEquipment 2022-04-30 SC594462 1 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC594462

Auto Entry Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 April 2023

Auto Entry Limited

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3
Notes to the Unaudited Financial Statements | 4 to 10

Auto Entry Limited

Company Information

Director | Mr S Suchacki

Registered office | Eden House Lanton Road Jedburgh TD8 6BL

Accountants | Deans Accountants And Business Advisors Ltd 27 North Bridge Street Hawick TD9 9BD

DEANS
Chartered Accountants
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Auto Entry Limited for the Year Ended 30 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Auto Entry Limited for the year ended 30 April 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of Auto Entry Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Auto Entry Limited and state those matters that we have agreed to state to the Board of Directors of Auto Entry Limited, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Auto Entry Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Auto Entry Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Auto Entry Limited. You consider that Auto Entry Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Auto Entry Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
TD9 9BD

31 July 2023

Auto Entry Limited

(Registration number: SC594462)
Balance Sheet as at 30 April 2023

| Note | 2023 £ | 2022 £
Fixed assets |  |  |
Tangible assets | 4 | 93,371 | 36,722
Current assets |  |  |
Debtors | 5 | 23,518 | 28,996
Cash at bank and in hand |  | 8,268 | 1,558
|  | 31,786 | 30,554
Creditors: Amounts falling due within one year | 6 | (68,899) | (63,357)
Net current liabilities |  | (37,113) | (32,803)
Total assets less current liabilities |  | 56,258 | 3,919
Creditors: Amounts falling due after more than one year | 6 | (37,766) | (9,200)
Provisions for liabilities |  | (6,703) | (644)
Net assets/(liabilities) |  | 11,789 | (5,925)
Capital and reserves |  |  |
Called up share capital | 8 | 100 | 100
Retained earnings |  | 11,689 | (6,025)
Shareholders' funds/(deficit) |  | 11,789 | (5,925)

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 July 2023

......................................... Mr S Suchacki Director

Auto Entry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1 | General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Eden House
Lanton Road
Jedburgh
TD8 6BL

The principal place of business is:
Eden House
Lanton Road
Jedburgh
TD8 6BL

These financial statements were authorised for issue by the director on 31 July 2023.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company is not directly impacted by Brexit.

The company has suffered financially from the pandemic. Where appropriate, government support in the forms of grants and loans were used to mitigate the impact of lockdowns etc. The directors will continue to assess the impact of the pandemic and make decisions accordingly.

These financial statements are presented in sterling (£) and rounded to the nearest £1.

Auto Entry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Judgements

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made included:
Useful economic lives of tangible assets – the annual depreciation charge for tangible assets is sensitive to change in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation, and the physical condition of the assets.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Sales of Goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture, fittings and equipment | 20% straight line.
Motor vehicles | 20% straight line.
Plant and machinery | 20% straight line.

Auto Entry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Auto Entry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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 it’s liabilities.
Recognition and measurement
Where shares are issued, any component that creates, a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expenses in the profit and loss account.
Impairment
At the end of each reporting period financial instruments measured at fair value are assessed for objective evidence of impairment. The impairment loss is recognised in the profit and loss account.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 3).

Auto Entry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4 | Tangible assets

| Motor vehicles £ | Plant and machinery £ | Total £
Cost or valuation
At 1 May 2022 | 35,894 | 14,000 | 49,894
Additions | 69,050 | 4,181 | 73,231
At 30 April 2023 | 104,944 | 18,181 | 123,125
Depreciation
At 1 May 2022 | 8,505 | 4,667 | 13,172
Charge for the year | 13,225 | 3,357 | 16,582
At 30 April 2023 | 21,730 | 8,024 | 29,754
Carrying amount
At 30 April 2023 | 83,214 | 10,157 | 93,371
At 30 April 2022 | 27,389 | 9,333 | 36,722

5 | Debtors

| 2023 £ | 2022 £
Trade debtors | 23,056 | 28,556
Prepayments | 462 | 440
| 23,518 | 28,996

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2023 £ | 2022 £
Due within one year |  |  |
Loans and borrowings | 7 | 9,657 | 1,400
Trade creditors |  | 889 | 3,360
Taxation and social security |  | 32,223 | 15,892
Accruals and deferred income |  | 1,200 | 1,200
Other creditors |  | 24,930 | 41,505
|  | 68,899 | 63,357

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £8,257 (2022 - £nil).

Auto Entry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Creditors: amounts falling due after more than one year

| Note | 2023 £ | 2022 £
Due after one year |  |  |
Loans and borrowings | 7 | 37,766 | 9,200

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £30,966 (2022 - £nil).

7 | Loans and borrowings

| 2023 £ | 2022 £
Non-current loans and borrowings
Bank borrowings | 6,800 | 9,200
Hire purchase contracts | 30,966 | -
| 37,766 | 9,200

| 2023 £ | 2022 £
Current loans and borrowings
Bank borrowings | 1,400 | 1,400
Hire purchase contracts | 8,257 | -
| 9,657 | 1,400

Bank borrowings

Bank Loan is denominated in £ with a nominal interest rate of 2.5% and a maturity date of 25 September 2026. The carrying amount at year end is £8,200 (2022 - £10,600).

Auto Entry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

8 | Share capital

Allotted, called up and fully paid shares

| 2023 | 2022
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100

9 | Related party transactions

Other transactions with the director

S Suchacki is a director and shareholder of the company, during the year he advanced monies to the company, at the balance sheet date the amounts owed to S Suchacki was £25,990.