Registered number
04156772
MOORE'S MOTOR REPAIRS LTD
Filleted Accounts
28 February 2023
MOORE'S MOTOR REPAIRS LTD
Registered number: 04156772
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 60,115 54,700
Current assets
Stocks 6,000 6,000
Debtors 4 10,894 16,559
Cash at bank and in hand 55,816 65,830
72,710 88,389
Creditors: amounts falling due within one year 5 (64,765) (57,282)
Net current assets 7,945 31,107
Total assets less current liabilities 68,060 85,807
Creditors: amounts falling due after more than one year 6 (6,784) (27,285)
Provisions for liabilities (11,133) (11,133)
Net assets 50,143 47,389
Capital and reserves
Called up share capital 10 10
Profit and loss account 50,133 47,379
Shareholders' funds 50,143 47,389
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.
Mr A V Witts
Director
Approved by the board on 4 November 2023
MOORE'S MOTOR REPAIRS LTD
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
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 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 110,052 128,717 238,769
Additions 19,091 - 19,091
At 28 February 2023 129,143 128,717 257,860
Depreciation
At 1 March 2022 95,293 88,776 184,069
Charge for the year 3,690 9,986 13,676
At 28 February 2023 98,983 98,762 197,745
Net book value
At 28 February 2023 30,160 29,955 60,115
At 28 February 2022 14,759 39,941 54,700
4 Debtors 2023 2022
£ £
Trade debtors 8,484 13,969
Other debtors 2,410 2,590
10,894 16,559
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 10,251 11,301
Trade creditors 32,007 23,545
Taxation and social security costs 14,869 18,095
Other creditors 7,638 4,341
64,765 57,282
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 6,784 27,285
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr L E Moore
Directors loan account (2,181) 20,000 (23,133) (5,314)
Mr A V Witts
Directors loan account (110) 10,000 (9,915) (25)
(2,291) 30,000 (33,048) (5,339)
8 Controlling party
The company is ultimtely controlled by the directors by virtue of their shareholding.
9 Other information
MOORE'S MOTOR REPAIRS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Wattsville Service Station
Islwyn Road
Wattsville
Crosskeys
NP11 7QD
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