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REGISTERED NUMBER: 10412334 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PERKINS AUTOMOTIVE LTD

PERKINS AUTOMOTIVE LTD (REGISTERED NUMBER: 10412334)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PERKINS AUTOMOTIVE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr N Perkins





REGISTERED OFFICE: Unit 3 Piperswood
Waterberry Drive
Waterlooville
Hampshire
PO7 7XU





REGISTERED NUMBER: 10412334 (England and Wales)





ACCOUNTANTS: Casson Beckman
Chartered Accountants
Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS

PERKINS AUTOMOTIVE LTD (REGISTERED NUMBER: 10412334)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 200,248 182,120
Investments 5 240,750 193,750
440,998 375,870

CURRENT ASSETS
Stocks 37,520 31,388
Debtors 6 370,890 332,252
Cash at bank and in hand 730,309 699,169
1,138,719 1,062,809
CREDITORS
Amounts falling due within one year 7 437,239 458,179
NET CURRENT ASSETS 701,480 604,630
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,142,478

980,500

CREDITORS
Amounts falling due after more than one year 8 - (14,901 )

PROVISIONS FOR LIABILITIES (19,240 ) (23,684 )
NET ASSETS 1,123,238 941,915

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,123,236 941,913
SHAREHOLDERS' FUNDS 1,123,238 941,915

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 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.

PERKINS AUTOMOTIVE LTD (REGISTERED NUMBER: 10412334)

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.

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 25 September 2023 and were signed by:





Mr N Perkins - Director


PERKINS AUTOMOTIVE LTD (REGISTERED NUMBER: 10412334)

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


1. STATUTORY INFORMATION

Perkins Automotive 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.

The presentation currency of the financial statements is the Pound 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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amounts receivable for work done net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at cost plus an element of profit.

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.

PERKINS AUTOMOTIVE LTD (REGISTERED NUMBER: 10412334)

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


2. ACCOUNTING POLICIES - continued

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.

Fixed asset investments
Fixed asset investments are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 5,484 88,718 18,342 159,265 271,809
Additions - 3,407 1,270 61,624 66,301
At 31 March 2023 5,484 92,125 19,612 220,889 338,110
DEPRECIATION
At 1 April 2022 2,741 53,069 7,542 26,337 89,689
Charge for year 548 9,526 2,307 35,792 48,173
At 31 March 2023 3,289 62,595 9,849 62,129 137,862
NET BOOK VALUE
At 31 March 2023 2,195 29,530 9,763 158,760 200,248
At 31 March 2022 2,743 35,649 10,800 132,928 182,120

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Cost/valuation b/f 193,750 -
Additions 47,000 193,750
240,750 193,750

PERKINS AUTOMOTIVE LTD (REGISTERED NUMBER: 10412334)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 274,005 256,305
Amounts owed by associates 2,714 -
Other debtors 94,171 75,947
370,890 332,252

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 167,877 166,120
Taxation and social security 118,086 76,351
Other creditors 151,276 215,708
437,239 458,179

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors - 14,901

9. LEASING AGREEMENTS
At the end of the accounting period the company was committed, under non-cancellable operating leases, to future payments of £203,136 (2022 : £253,920) in relation to property leases, and £28,776 (2022 : £11,682) in relation to vehicles leases.