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REGISTERED NUMBER: 05948582 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023

FOR

AUTOCENTRE LIMITED

AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


AUTOCENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2023







DIRECTORS: G P Watson
Mrs K Watson
J W Birkett



REGISTERED OFFICE: Auto Centre
Friday Street
Chorley
PR6 0AA



REGISTERED NUMBER: 05948582 (England and Wales)



ACCOUNTANTS: Ryans
Chartered Accountants
67 Chorley Old Road
Bolton
BL1 3AJ



BANKERS: Santander plc
93 Fishergate
Preston
PR1 2NJ

AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)

ABRIDGED BALANCE SHEET
30TH APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 42,436 58,508
42,436 58,508

CURRENT ASSETS
Stocks 16,897 17,587
Debtors 66,849 88,771
Cash at bank and in hand 226,384 258,966
310,130 365,324
CREDITORS
Amounts falling due within one year 165,676 222,765
NET CURRENT ASSETS 144,454 142,559
TOTAL ASSETS LESS CURRENT
LIABILITIES

186,890

201,067

CREDITORS
Amounts falling due after more than one
year

6

(58,333

)

(80,000

)

PROVISIONS FOR LIABILITIES (9,793 ) (7,695 )
NET ASSETS 118,764 113,372

CAPITAL AND RESERVES
Called up share capital 7 2,000 2,000
Retained earnings 116,764 111,372
SHAREHOLDERS' FUNDS 118,764 113,372

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)

ABRIDGED BALANCE SHEET - continued
30TH APRIL 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th September 2023 and were signed on its behalf by:





G P Watson - Director


AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)

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

1. STATUTORY INFORMATION

Autocentre 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue, described as turnover, represents the value of goods and services (net of VAT) provided to customers during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2006, was amortised evenly over its estimated useful life.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% 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 Statement of Income 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.

AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st May 2022
and 30th April 2023 120,000
AMORTISATION
At 1st May 2022
and 30th April 2023 120,000
NET BOOK VALUE

At 30th April 2023 -
At 30th April 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st May 2022 163,075
Additions 1,222
Disposals (46,925 )
At 30th April 2023 117,372
DEPRECIATION
At 1st May 2022 104,567
Charge for year 12,134
Eliminated on disposal (41,765 )
At 30th April 2023 74,936
NET BOOK VALUE
At 30th April 2023 42,436
At 30th April 2022 58,508

AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)

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

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans - 21,667

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
NIL Ordinary £1 - 1,000
630 A Ordinary £1 630 500
370 B Ordinary £1 370 500
500 C Ordinary £1 500 -
500 D Ordinary £1 500 -
2,000 2,000

8. OTHER FINANCIAL COMMITMENTS

At 30th April 2023 the company had future obligations under operating leases totalling £462,896 of which £48,112 is due within one year.

9. ULTIMATE CONTROLLING PARTY

The company was controlled throughout this period by its directors, by virtue of the fact that they beneficially own the whole of the issued share capital.