9 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 09121292 2022-04-01 2023-03-31 09121292 2023-03-31 09121292 2022-03-31 09121292 2021-04-01 2022-03-31 09121292 2022-03-31 09121292 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 09121292 core:MotorVehicles 2022-04-01 2023-03-31 09121292 bus:Director1 2022-04-01 2023-03-31 09121292 core:FurnitureFittingsToolsEquipment 2022-03-31 09121292 core:FurnitureFittingsToolsEquipment 2023-03-31 09121292 core:WithinOneYear 2023-03-31 09121292 core:WithinOneYear 2022-03-31 09121292 core:AfterOneYear 2023-03-31 09121292 core:ShareCapital 2023-03-31 09121292 core:ShareCapital 2022-03-31 09121292 core:RetainedEarningsAccumulatedLosses 2023-03-31 09121292 core:RetainedEarningsAccumulatedLosses 2022-03-31 09121292 core:FurnitureFittingsToolsEquipment 2022-03-31 09121292 bus:SmallEntities 2022-04-01 2023-03-31 09121292 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09121292 bus:FullAccounts 2022-04-01 2023-03-31 09121292 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09121292 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
Company registration number: 09121292
AUTO-ASSESS LIMITED
Unaudited filleted financial statements
31 March 2023
AUTO-ASSESS LIMITED
Contents
Statement of financial position
Notes to the financial statements
AUTO-ASSESS LIMITED
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 103,588 7,108
_______ _______
103,588 7,108
Current assets
Debtors 6 63,091 185,586
Cash at bank and in hand 69,646 119,498
_______ _______
132,737 305,084
Creditors: amounts falling due
within one year 7 ( 131,931) ( 238,934)
_______ _______
Net current assets 806 66,150
_______ _______
Total assets less current liabilities 104,394 73,258
Creditors: amounts falling due
after more than one year 8 ( 71,028) -
Provisions for liabilities - ( 1,351)
_______ _______
Net assets 33,366 71,907
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 33,364 71,905
_______ _______
Shareholders funds 33,366 71,907
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 October 2023 , and are signed on behalf of the board by:
Mr B P McMahon
Director
Company registration number: 09121292
AUTO-ASSESS LIMITED
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Minerva Mill Innovation Centre, Station Road, Alcester, Warwickshire, B49 5ET.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2022: 5 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2022 26,421 26,421
Additions 103,170 103,170
_______ _______
At 31 March 2023 129,591 129,591
_______ _______
Depreciation
At 1 April 2022 19,313 19,313
Charge for the year 6,690 6,690
_______ _______
At 31 March 2023 26,003 26,003
_______ _______
Carrying amount
At 31 March 2023 103,588 103,588
_______ _______
At 31 March 2022 7,108 7,108
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 51,350 185,586
Other debtors 11,741 -
_______ _______
63,091 185,586
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors - 55,989
Corporation tax 65,526 81,380
Social security and other taxes 38,694 99,893
Other creditors 27,711 1,672
_______ _______
131,931 238,934
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 71,028 -
_______ _______
9. Directors advances, credits and guarantees
As at 31 March 2023 the company owed its directors, Mr B P McMahon and Miss K T Donnelly, a total of £363 (2022:£721). No interest is payable on this loan.
10. Controlling party
The company is controlled by the directors by virtue of their shareholdings.