Registered number
08974139
AB Motor Vehicle Services Limited
Filleted Accounts
30 April 2023
AB Motor Vehicle Services Limited
Registered number: 08974139
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,500 23,085
Current assets
Debtors 4 11,155 4,849
Cash at bank and in hand 23,002 26,869
34,157 31,718
Creditors: amounts falling due within one year 5 (45,490) (47,876)
Net current liabilities (11,333) (16,158)
Net assets 167 6,927
Capital and reserves
Called up share capital 2 2
Profit and loss account 165 6,925
Shareholders' funds 167 6,927
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A P Byrne
Director
Approved by the board on 31 October 2023
AB Motor Vehicle Services Limited
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the 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 costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings and equipment over 4 years
Motor vehicles over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 May 2022 31,600 8,809 14,339 54,748
At 30 April 2023 31,600 8,809 14,339 54,748
Depreciation
At 1 May 2022 17,100 7,304 7,259 31,663
Charge for the year 7,250 1,025 3,310 11,585
At 30 April 2023 24,350 8,329 10,569 43,248
Net book value
At 30 April 2023 7,250 480 3,770 11,500
At 30 April 2022 14,500 1,505 7,080 23,085
4 Debtors 2023 2022
£ £
Trade debtors 6,155 4,849
Directors loan account 5,000 -
11,155 4,849
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 22,276 30,000
Trade creditors 6,611 5,622
Taxation and social security costs 11,353 7,191
Other creditors 5,250 5,063
45,490 47,876
6 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 12,423 10,431
7 Related party transactions
The company is controlled by the directors.
8 Other information
AB Motor Vehicle Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1 & 2
321 Bristol Road
Gloucester
Glos
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