Auto Technics UK Limited |
Registered number: |
03242272 |
Abridged Balance Sheet |
as at 31 December 2022 |
|
Notes |
|
|
2022 |
|
|
2021 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
1,025,611 |
|
|
1,040,758 |
|
Current assets |
Debtors |
|
|
155,453 |
|
|
315,558 |
Cash at bank and in hand |
|
|
735,357 |
|
|
536,940 |
|
|
|
890,810 |
|
|
852,498 |
|
Creditors: amounts falling due within one year |
|
|
(529,976) |
|
|
(639,343) |
|
Net current assets |
|
|
|
360,834 |
|
|
213,155 |
|
Net assets |
|
|
|
1,386,445 |
|
|
1,253,913 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
Profit and loss account |
|
|
|
1,385,445 |
|
|
1,252,913 |
|
Shareholders' funds |
|
|
|
1,386,445 |
|
|
1,253,913 |
|
|
|
|
|
|
|
|
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. |
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006. |
|
|
|
|
Dilip Kalyani |
Director |
Approved by the board on 15 August 2023 |
|
Auto Technics UK Limited |
Notes to the Abridged Accounts |
for the year ended 31 December 2022 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The abridged 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 represents the net value of goods and services provided, net of Value Added Tax. |
|
|
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: |
|
|
Freehold buildings |
2% per annum |
|
Improvements to premises |
25% per annum reducing balance |
|
Motor vehicles |
25% per annum reducing balance |
|
Plant and machinery |
25% per annum reducing balance |
|
|
No depreciation is provided on the freehold land. |
|
|
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. The company's liability for the 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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Leased assets |
|
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payments is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2022 |
|
2021 |
Number |
Number |
|
|
Average number of persons employed by the company |
15 |
|
14 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Total |
£ |
|
Cost |
|
At 1 January 2022 |
1,953,525 |
|
Additions |
35,793 |
|
Disposals |
(20,259) |
|
At 31 December 2022 |
1,969,059 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2022 |
912,767 |
|
Charge for the year |
45,891 |
|
On disposals |
(15,210) |
|
At 31 December 2022 |
943,448 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2022 |
1,025,611 |
|
At 31 December 2021 |
1,040,758 |
|
|
4 |
Loans |
2022 |
|
2021 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
- |
|
62,217 |
|
|
|
|
|
|
|
|
|
|
The Bank Loan is secured over the company's freehold property. |
|
|
5 |
Controlling party |
|
|
The company is under the control of the directors, who jointly hold 100% of the issued share capital of the company. |
|
|
6 |
Other information |
|
|
Auto Technics UK Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
107 - 109 Windsor Road, |
|
Bray, |
|
Maidenhead, |
|
Berkshire, |
|
SL6 2DP |