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REGISTERED NUMBER: 04740273 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023

FOR

ROYSTON AUTO COMPONENTS LTD

ROYSTON AUTO COMPONENTS LTD (REGISTERED NUMBER: 04740273)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROYSTON AUTO COMPONENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTOR: M Backhouse





SECRETARY: M Backhouse





REGISTERED OFFICE: 262 Midland Road
Royston
Barnsley
South Yorkshire
S71 4DN





REGISTERED NUMBER: 04740273 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

ROYSTON AUTO COMPONENTS LTD (REGISTERED NUMBER: 04740273)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,500
Tangible assets 5 11,344 13,724
11,344 15,224

CURRENT ASSETS
Stocks 6 30,000 29,000
Debtors 7 22,324 14,167
Cash at bank and in hand 73,117 77,161
125,441 120,328
CREDITORS
Amounts falling due within one year 8 48,773 41,579
NET CURRENT ASSETS 76,668 78,749
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,012

93,973

PROVISIONS FOR LIABILITIES 9 2,155 2,608
NET ASSETS 85,857 91,365

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 85,855 91,363
SHAREHOLDERS' FUNDS 85,857 91,365

ROYSTON AUTO COMPONENTS LTD (REGISTERED NUMBER: 04740273)

BALANCE SHEET - continued
30TH JUNE 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

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 Profit & Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th October 2023 and were signed by:





M Backhouse - Director


ROYSTON AUTO COMPONENTS LTD (REGISTERED NUMBER: 04740273)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

Royston Auto Components 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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 & Loss Account 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.

ROYSTON AUTO COMPONENTS LTD (REGISTERED NUMBER: 04740273)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2022
and 30th June 2023 30,000
AMORTISATION
At 1st July 2022 28,500
Amortisation for year 1,500
At 30th June 2023 30,000
NET BOOK VALUE
At 30th June 2023 -
At 30th June 2022 1,500

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st July 2022 143 6,008 17,745 1,990 25,886
Additions - - - 225 225
At 30th June 2023 143 6,008 17,745 2,215 26,111
DEPRECIATION
At 1st July 2022 126 3,754 6,562 1,720 12,162
Charge for year 2 224 2,236 143 2,605
At 30th June 2023 128 3,978 8,798 1,863 14,767
NET BOOK VALUE
At 30th June 2023 15 2,030 8,947 352 11,344
At 30th June 2022 17 2,254 11,183 270 13,724

6. STOCKS
2023 2022
£    £   
Stocks 30,000 29,000

ROYSTON AUTO COMPONENTS LTD (REGISTERED NUMBER: 04740273)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,731 13,098
Prepayments 1,593 1,069
22,324 14,167

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 34,963 27,188
Tax 630 2,727
Social security and other taxes 539 510
VAT 2,005 2,713
Directors' current accounts 8,275 7,395
Accrued expenses 2,361 1,046
48,773 41,579

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,155 2,608

Deferred
tax
£   
Balance at 1st July 2022 2,608
Provided during year (453 )
Balance at 30th June 2023 2,155

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 ordinary 1 2 2