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REGISTERED NUMBER: 04373133 (England and Wales)




















Financial Statements

for the Year Ended 31 March 2023

for

Auto - Rescue Logistics Limited

Auto - Rescue Logistics Limited (Registered number: 04373133)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 8


Auto - Rescue Logistics Limited

Company Information
for the year ended 31 March 2023







DIRECTORS: Mrs A Durcan
Mr G Inwood
Mrs T Cox
Mr A Sutton-Counter
Mr A Graves





REGISTERED OFFICE: Beaufort House
7-8 Talavera Court
Northampton
Northamptonshire
NN3 6RW





REGISTERED NUMBER: 04373133 (England and Wales)





AUDITORS: Clifford Roberts
Chartered Accountants &
Statutory Auditors
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Auto - Rescue Logistics Limited (Registered number: 04373133)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
CALLED UP SHARE CAPITAL NOT PAID 2,400 2,400

FIXED ASSETS
Tangible assets 4 462,499 763,646
Investments 5 1 1
Investment property 6 280,000 -
742,500 763,647

CURRENT ASSETS
Debtors 7 1,874,450 1,015,053
Cash at bank and in hand 1,143,840 998,946
3,018,290 2,013,999
CREDITORS
Amounts falling due within one year 8 2,099,573 1,249,467
NET CURRENT ASSETS 918,717 764,532
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,663,617

1,530,579

PROVISIONS FOR LIABILITIES 5,263 6,640
NET ASSETS 1,658,354 1,523,939

CAPITAL AND RESERVES
Called up share capital 11 14,500 15,500
Revaluation reserve 9,715 -
Capital redemption reserve 11,250 10,250
Retained earnings 1,622,889 1,498,189
SHAREHOLDERS' FUNDS 1,658,354 1,523,939

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:




Mr G Inwood - Director



Mrs A Durcan - Director


Auto - Rescue Logistics Limited (Registered number: 04373133)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Auto - Rescue Logistics Limited 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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

The financial statements are presented in Sterling (£) and cover the period to the 31st March each year.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Auto - Rescue Logistics Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Valuation of Investment Property
Investment property is held at fair value as at the balance sheet date. Directors review several similar properties within the local market at the year end to determine an average price per square foot, this price per square foot is then applied to the square footage of the investment property to generate its fair value.

Revenue
Turnover represents net invoices sale of services, excluding value added tax. Fees in respect of services are recognised when services are rendered. This includes work which has not yet been invoiced, provided that it is considered to be fully recoverable.

Auto - Rescue Logistics Limited (Registered number: 04373133)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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 - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affect asset is estimated and compared with the carrying amount. If estimated recoverable amount is lower, the carry amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment subsequently reserves, the carrying amount of the asset is increased to revised the estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investments in subsidiaries
Investments in subsidiary and associate undertakings are recognised at cost less impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 taxation
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.

Leasing and hire purchase
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Auto - Rescue Logistics Limited (Registered number: 04373133)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2022 - 51 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2022 869,919 236,362 196,659 11,300 1,314,240
Revaluations (29,487 ) - - - (29,487 )
Reclassification/transfer (280,000 ) - - - (280,000 )
At 31 March 2023 560,432 236,362 196,659 11,300 1,004,753
DEPRECIATION
At 1 April 2022 194,060 171,971 173,899 10,664 550,594
Charge for year 13,272 12,879 4,552 159 30,862
Revaluation adjustments (39,202 ) - - - (39,202 )
At 31 March 2023 168,130 184,850 178,451 10,823 542,254
NET BOOK VALUE
At 31 March 2023 392,302 51,512 18,208 477 462,499
At 31 March 2022 675,859 64,391 22,760 636 763,646

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Cost 560,432 236,362 196,659 11,300 1,004,753

Auto - Rescue Logistics Limited (Registered number: 04373133)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 1
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Reclassification/transfer 280,000
At 31 March 2023 280,000
NET BOOK VALUE
At 31 March 2023 280,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,571,250 884,371
Bad debt provision (42,573 ) (125,167 )
Other debtors 24,181 81,094
Prepayments 321,592 174,755
1,874,450 1,015,053

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,631,797 993,555
Tax 48,464 17,963
Social security and other taxes 26,619 16,154
VAT 139,399 80,224
Other creditors 5,655 347
Accrued expenses 247,639 141,224
2,099,573 1,249,467

Natwest Bank PLC hold three legal charges:

-Charge of deposit on all monies due or to become due from the company to the charge on any account whatsoever.
-Legal charge over all of the assets held by the company, any goodwill of the business carried on at the property and the proceeds of any insurance affecting the property or asset.
-Fixed and floating debenture charge over the undertaking and all property and assets present and future.

Auto - Rescue Logistics Limited (Registered number: 04373133)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 6,459 6,553
Between one and five years 8,142 14,148
14,601 20,701

10. FINANCIAL RISK MANAGEMENT

The company has some exposure to foreign currency, credit, liquidity, market and network risks, these are limited by the company's financial management policies and practices described below.

Foreign currency risk
The company has no exposure to foreign currency risks as all of the company's sales and purchases are denominated in sterling.

Credit risk
The company offer credit terms to its customers which allows payment of the debt at a future specified time. The company mitigates this risk by maintaining strong customer relationships and regular analysis its sales ledger for troubled customers.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities. Currently based on the cash reserves this is not deemed a significant risk.

Market risk
There is a market risk associated with the fluctuation in demand for the products and services provided. Most of this is mitigated by monitoring the markets and implementing strategies to deal with the identified risks.

Network coverage risk
The company is exposed to the risk of ensuring it has sufficient suppliers in each region to ensure the loss of suppliers does not impact on network coverage. This is mitigated by continually reviewing the area coverage to ensure issues are dealt with at an early stage.

The company holds no derivative financial instruments at the year end.

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
14,500 Ordinary £1 shares £1.00 14,500 15,500

During the year, the company bought back and cancelled 1,000 (2022 - 800) ordinary £1 shares.

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adam Billingham BA (Hons) BFP FCA (Senior Statutory Auditor)
for and on behalf of Clifford Roberts

Auto - Rescue Logistics Limited (Registered number: 04373133)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

13. CONTINGENT LIABILITIES

As at 31st March, 2023 there were no contingent liabilities.

14. CAPITAL COMMITMENTS

As at 31st March, 2023 there were no capital commitments.

15. RELATED PARTY DISCLOSURES

All other material related party transactions with owners holding a participating interest, companies in which the entity has a participating interest and directors were concluded under normal market conditions.