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REGISTERED NUMBER: 05146228 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

AUTO CRAFT ENGINEERING UK LIMITED

AUTO CRAFT ENGINEERING UK LIMITED (REGISTERED NUMBER: 05146228)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AUTO CRAFT ENGINEERING UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Mr K Babington





REGISTERED OFFICE: Gethin House
36 Bond Street
Nuneaton
Warwickshire
CV11 4DA





REGISTERED NUMBER: 05146228 (England and Wales)





ACCOUNTANTS: Armstrongs Bishop Simmons
Chartered Accountants and Tax Advisors
Gethin House
36 Bond Street
Nuneaton
Warwickshire
CV11 4DA

AUTO CRAFT ENGINEERING UK LIMITED (REGISTERED NUMBER: 05146228)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 153,158 210,775

CURRENT ASSETS
Stocks 178,712 233,625
Debtors 5 7,556 59,647
Cash at bank 62,245 57,711
248,513 350,983
CREDITORS
Amounts falling due within one year 6 35,183 58,395
NET CURRENT ASSETS 213,330 292,588
TOTAL ASSETS LESS CURRENT
LIABILITIES

366,488

503,363

CREDITORS
Amounts falling due after more than one
year

7

24,167

34,167
NET ASSETS 342,321 469,196

CAPITAL AND RESERVES
Called up share capital 8 3 3
Retained earnings 342,318 469,193
SHAREHOLDERS' FUNDS 342,321 469,196

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

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

AUTO CRAFT ENGINEERING UK LIMITED (REGISTERED NUMBER: 05146228)

BALANCE SHEET - continued
30 JUNE 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 November 2023 and were signed by:





Mr K Babington - Director


AUTO CRAFT ENGINEERING UK LIMITED (REGISTERED NUMBER: 05146228)

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

1. STATUTORY INFORMATION

Auto Craft Engineering UK 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 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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of goods.

Tangible fixed assets
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 - 10% on cost
Motor vehicles - 10% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less the costs to complete and sell. Cost includes all costs of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 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.

AUTO CRAFT ENGINEERING UK LIMITED (REGISTERED NUMBER: 05146228)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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 6 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 10,644 589,820 39,231 6,288 645,983
Additions - 3,661 - - 3,661
At 30 June 2023 10,644 593,481 39,231 6,288 649,644
DEPRECIATION
At 1 July 2022 10,644 396,781 23,058 4,725 435,208
Charge for year - 59,348 1,617 313 61,278
At 30 June 2023 10,644 456,129 24,675 5,038 496,486
NET BOOK VALUE
At 30 June 2023 - 137,352 14,556 1,250 153,158
At 30 June 2022 - 193,039 16,173 1,563 210,775

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,130 25,690
Other debtors - 27,305
VAT 910 3,675
Prepayments and accrued income 4,516 2,977
7,556 59,647

AUTO CRAFT ENGINEERING UK LIMITED (REGISTERED NUMBER: 05146228)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 7,510 25,997
Social security and other taxes 2,397 3,113
Wages Control 10,474 14,262
Pensions 716 1,085
Other creditors 71 -
Directors' current accounts 618 988
Accrued expenses 3,397 2,950
35,183 58,395

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 14,167 24,167
24,167 34,167

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary 1 2 2
1 Ordinary B 1 1 1
3 3