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REGISTERED NUMBER: SC576954

AUTOBAHNTECHNIK LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2021 TO 29 SEPTEMBER 2022

AUTOBAHNTECHNIK LTD (REGISTERED NUMBER: SC576954)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2021 TO 29 SEPTEMBER 2022

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 3 |

AUTOBAHNTECHNIK LTD (REGISTERED NUMBER: SC576954)

BALANCE SHEET

29 SEPTEMBER 2022

| 2022 | 2021 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 75,081 |  | 89,594 |  |

CURRENT ASSETS

Stocks | 40,352 |  | 24,351 |  |

Debtors | 5 | 75,808 |  | 12,377 |  |

Cash at bank | 6,390 |  | 23,635 |  |

122,550 |  | 60,363 |  |

CREDITORS

Amounts falling due within one year | 6 | 190,790 |  | 158,487 |  |

NET CURRENT LIABILITIES | (68,240 | ) | (98,124 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,841 |  | (8,530 | ) |

CREDITORS

Amounts falling due after more than one year | 7 | 26,667 |  | 36,673 |  |

NET LIABILITIES | (19,826 | ) | (45,203 | ) |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | (19,926 | ) | (45,303 | ) |

(19,826 | ) | (45,203 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 September 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 September 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

AUTOBAHNTECHNIK LTD (REGISTERED NUMBER: SC576954)

BALANCE SHEET - continued

29 SEPTEMBER 2022

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2023 and were signed on its behalf by:

H K Orr - Director

AUTOBAHNTECHNIK LTD (REGISTERED NUMBER: SC576954)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2021 TO 29 SEPTEMBER 2022

1. | STATUTORY INFORMATION

| Autobahntechnik Ltd is a private company, limited by shares, registered in Scotland. The company's registered office is 56 Daisy Street, Glasgow, G42 8HF.

| The financial statements are presented in Sterling (£).

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. There were no material departures from this standard. The financial statements have been prepared under the historical cost convention.

| Going concern

| The financial statements have been prepared on a going concern basis. At the balance sheet date, the company's liabilities exceeded its assets and its ability to continue to trade is therefore dependent on the continued financial support of its directors. However, after assessing all potential impacts and future commitments, due to the continued financial support of the directors if and when required, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore, the company continues to adopt the going concern basis in preparing its financial statements.

| Judgements

| The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

| Turnover

| Turnover represents net invoiced sales of goods and services, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods and services have been passed to the buyer.

| 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.

| Plant and machinery etc | - | 25% on cost, 20% on reducing balance and 10% on cost

| Tangible fixed assets are included in the balance sheet at cost less accumulated depreciation and impairment losses.

| Impairment of non-financial assets

| At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

| Government grants

| Government grants relating to revenue expenditure are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

| Stocks

| Stocks are valued at the lower of cost and estimated selling price less costs to complete.

AUTOBAHNTECHNIK LTD (REGISTERED NUMBER: SC576954)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 OCTOBER 2021 TO 29 SEPTEMBER 2022

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans to and from related parties.

| Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

| Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

| Taxation

| Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

| The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

| With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

| Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful lives. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged against profits on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

AUTOBAHNTECHNIK LTD (REGISTERED NUMBER: SC576954)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 OCTOBER 2021 TO 29 SEPTEMBER 2022

2. | ACCOUNTING POLICIES - continued

| Provisions

| Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 7 (2021 - 9 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 October 2021 | 154,534 |  |

| Additions | 2,467 |  |

| At 29 September 2022 | 157,001 |  |

| DEPRECIATION

| At 1 October 2021 | 64,940 |  |

| Charge for period | 16,980 |  |

| At 29 September 2022 | 81,920 |  |

| NET BOOK VALUE

| At 29 September 2022 | 75,081 |  |

| At 30 September 2021 | 89,594 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2022 | 2021 |

£ | £ |

| Trade debtors | 10,115 |  | 7,584 |  |

| Other debtors | 65,693 |  | 4,793 |  |

75,808 |  | 12,377 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2022 | 2021 |

£ | £ |

| Bank loans and overdrafts | 10,000 |  | 10,000 |  |

| Hire purchase contracts | - |  | 1,248 |  |

| Trade creditors | 9,394 |  | 3,983 |  |

| Taxation and social security | 84,280 |  | 30,382 |  |

| Other creditors | 87,116 |  | 112,874 |  |

190,790 |  | 158,487 |  |

AUTOBAHNTECHNIK LTD (REGISTERED NUMBER: SC576954)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 OCTOBER 2021 TO 29 SEPTEMBER 2022

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2022 | 2021 |

£ | £ |

| Bank loans | 26,667 |  | 36,673 |  |

8. | SECURED DEBTS

| The following secured debts are included within creditors:

2022 | 2021 |

£ | £ |

| Hire purchase contracts | - |  | 1,248 |  |

| Hire purchase obligations, which had been secured over the assets to which they related, were fully repaid during the period.

9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the period ended 29 September 2022 and the year ended 30 September 2021:

2022 | 2021 |

£ | £ |

| P F Kelly

| Balance outstanding at start of period | - |  | - |  |

| Amounts advanced | 4,939 |  | - |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of period | 4,939 |  | - |  |

| The loan is interest free and is repayable on demand.

10. | RELATED PARTY DISCLOSURES

| As at 29 September 2022, the company owed a director the amount of £79,003 (2021: £109,189). This loan is unsecured, interest free and is repayable on demand.