Company Registration No. 13163266 (England and Wales)
AUTO ELECTRICS (REDDITCH) HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
AUTO ELECTRICS (REDDITCH) HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr J H Garey
Mr S Garey
Mrs L Forman
Secretary
Mrs M A Garey
Company number
13163266
Registered office
241 Birmingham Road
Redditch
Worcestershire
B97 6EH
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
TSB Bank plc
TSB Bank, Box 1
Swindon
BX4 7SB
AUTO ELECTRICS (REDDITCH) HOLDINGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
AUTO ELECTRICS (REDDITCH) HOLDINGS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AUTO ELECTRICS (REDDITCH) HOLDINGS LIMITED FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Auto Electrics (Redditch) Holdings Limited for the year ended 31 March 2023 which comprise, the balance sheet and the related notes 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Auto Electrics (Redditch) Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Auto Electrics (Redditch) Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Auto Electrics (Redditch) Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Auto Electrics (Redditch) Holdings Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Auto Electrics (Redditch) Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Auto Electrics (Redditch) Holdings Limited. You consider that Auto Electrics (Redditch) Holdings 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 financial statements of Auto Electrics (Redditch) Holdings 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 financial statements.

Ormerod Rutter Limited
20 September 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
AUTO ELECTRICS (REDDITCH) HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
462,996
252,627
Investments
4
100
100
463,096
252,727
Current assets
Debtors
5
39,917
1,572
Cash at bank and in hand
1,996
6,451
41,913
8,023
Creditors: amounts falling due within one year
6
(204,395)
(76,531)
Net current liabilities
(162,482)
(68,508)
Total assets less current liabilities
300,614
184,219
Capital and reserves
Called up share capital
7
200
200
Profit and loss reserves
300,414
184,019
Total equity
300,614
184,219

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 20 September 2023 and are signed on its behalf by:
Mr J H Garey
Director
Company Registration No. 13163266
AUTO ELECTRICS (REDDITCH) HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Auto Electrics (Redditch) Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 241 Birmingham Road, Redditch, Worcestershire, B97 6EH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

AUTO ELECTRICS (REDDITCH) HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2022 - 3).

3
Investment property
2023
£
Fair value
At 1 April 2022
252,627
Additions
210,369
At 31 March 2023
462,996

The director's have assessed the market value of the property and consider that there has been no significant change in the market value at the period end.

4
Fixed asset investments
2023
2022
£
£
Investments
100
100
AUTO ELECTRICS (REDDITCH) HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
4
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2022 & 31 March 2023
100
Carrying amount
At 31 March 2023
100
At 31 March 2022
100
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
180
-
0
Amounts owed by group undertakings
39,287
964
Other debtors
450
608
39,917
1,572
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,046
6,597
Taxation and social security
1,500
651
Other creditors
201,849
69,283
204,395
76,531
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
60 Ordinary of £1 each
60
60
10 Ordinary A of £1 each
10
10
60 Ordinary Deferred of £1 each
60
60
70 Ordinary Preferred of £1 each
70
70
200
200

 

AUTO ELECTRICS (REDDITCH) HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
8
Ultimate controlling party

There is no ultimate controlling party.

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