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REGISTERED NUMBER: 00624270 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

AUTO ELECTRICS (TEESSIDE) LIMITED

AUTO ELECTRICS (TEESSIDE) LIMITED (REGISTERED NUMBER: 00624270)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


AUTO ELECTRICS (TEESSIDE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: David Wilson
Mark William Wilson
Michael Andrew Wilson





REGISTERED OFFICE: Thornaby House
Thornaby Place
Thornaby on Tees
TS17 6BW





REGISTERED NUMBER: 00624270 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
16 Omega Business Village
Thurston Road
Northallerton
North Yorkshire
DL6 2NJ

AUTO ELECTRICS (TEESSIDE) LIMITED (REGISTERED NUMBER: 00624270)

ABRIDGED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 154,833 168,866

CURRENT ASSETS
Stocks 55,995 43,615
Debtors 123,266 106,620
Cash at bank and in hand 376,439 335,629
555,700 485,864
CREDITORS
Amounts falling due within one year 106,022 106,927
NET CURRENT ASSETS 449,678 378,937
TOTAL ASSETS LESS CURRENT LIABILITIES 604,511 547,803

PROVISIONS FOR LIABILITIES 1,643 881
NET ASSETS 602,868 546,922

CAPITAL AND RESERVES
Called up share capital 8,000 8,000
Profit and loss account 594,868 538,922
602,868 546,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

AUTO ELECTRICS (TEESSIDE) LIMITED (REGISTERED NUMBER: 00624270)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Profit and Loss Account and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 August 2023 and were signed on its behalf by:





David Wilson - Director


AUTO ELECTRICS (TEESSIDE) LIMITED (REGISTERED NUMBER: 00624270)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Auto Electrics (Teesside) Limited 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover includes revenue earned from the sale of goods and rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 cost incurred for work performed to date to the total estimated contract costs.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 25% on reducing balance and 25% on cost
Motor vehicles - 25% on reducing balance

Freehold land is not depreciated

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 Profit and Loss Account, 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.


AUTO ELECTRICS (TEESSIDE) LIMITED (REGISTERED NUMBER: 00624270)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

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.

INCOME RECOGNITION
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

GOVERNMENT GRANTS
Grants receivable in relation to profit and loss expenditure are credited to the profit and loss in the year for which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 510,224
Additions 6,650
At 31 March 2023 516,874
DEPRECIATION
At 1 April 2022 341,358
Charge for year 20,683
At 31 March 2023 362,041
NET BOOK VALUE
At 31 March 2023 154,833
At 31 March 2022 168,866

AUTO ELECTRICS (TEESSIDE) LIMITED (REGISTERED NUMBER: 00624270)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £102,899 (2022: £115,358). Contributions totalling £796 (2022: £160) were payable to the fund at the year end and are included in other creditors.

6. RELATED PARTY DISCLOSURES

Mr D Wilson, Mr M W Wilson and Mr M A Wilson have majority control of the shares in the company, and together with their involvement in its day-to-day management, are deemed to be the controlling parties for the purposes of Financial Reporting Standard No. 102.