Registered number
07535619
Cerney Motor Services Limited
Filleted Accounts
31 March 2023
Cerney Motor Services Limited
Registered number: 07535619
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 21,109 38,813
Current assets
Stocks 13,200 21,099
Debtors 5 16,958 24,914
Cash at bank and in hand 15,275 9,066
45,433 55,079
Creditors: amounts falling due within one year 6 (56,267) (51,514)
Net current (liabilities)/assets (10,834) 3,565
Total assets less current liabilities 10,275 42,378
Creditors: amounts falling due after more than one year 7 (20,870) (41,667)
Net (liabilities)/assets (10,595) 711
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (11,595) (289)
Shareholders' funds (10,595) 711
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.
N Reason
Director
Approved by the board on 27 November 2023
Cerney Motor Services Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 over 4 years
Fixtures, fittings, tools and equipment over 4 years
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.
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 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 40,000
At 31 March 2023 40,000
Amortisation
At 1 April 2022 40,000
At 31 March 2023 40,000
Net book value
At 31 March 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 68,440 43,615 112,055
Additions - 1,250 1,250
Disposals - (200) (200)
At 31 March 2023 68,440 44,665 113,105
Depreciation
At 1 April 2022 50,159 23,083 73,242
Charge for the year 8,613 10,291 18,904
On disposals - (150) (150)
At 31 March 2023 58,772 33,224 91,996
Net book value
At 31 March 2023 9,668 11,441 21,109
At 31 March 2022 18,281 20,532 38,813
5 Debtors 2023 2022
£ £
Trade debtors 10,794 18,968
Other debtors 6,164 5,946
16,958 24,914
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,860 -
Trade creditors 32,365 35,397
Other taxes and social security costs 10,738 15,814
Other creditors 2,304 303
56,267 51,514
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 20,870 41,667
8 Other information
Cerney Motor Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Lark Meadow
Ampney St. Peter
Cirencester
Gloucestershire
GL7 5SH
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