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REGISTERED NUMBER: 05251701 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BASINGSTOKE AUTOCENTRE LIMITED

BASINGSTOKE AUTOCENTRE LIMITED (REGISTERED NUMBER: 05251701)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BASINGSTOKE AUTOCENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Miss S T Digweed
G Benwell
S M Gorman





REGISTERED OFFICE: The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ





REGISTERED NUMBER: 05251701 (England and Wales)





ACCOUNTANTS: RE Group Accountants Limited
Chartered Certified Accountants
The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ

BASINGSTOKE AUTOCENTRE LIMITED (REGISTERED NUMBER: 05251701)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,171 6,434
5,171 6,434

CURRENT ASSETS
Stocks 25,875 27,199
Debtors 6 309,100 307,129
Cash at bank and in hand 188,077 182,972
523,052 517,300
CREDITORS
Amounts falling due within one year 7 216,067 206,831
NET CURRENT ASSETS 306,985 310,469
TOTAL ASSETS LESS CURRENT LIABILITIES 312,156 316,903

CREDITORS
Amounts falling due after more than one
year

8

(35,355

)

(40,477

)

PROVISIONS FOR LIABILITIES (268 ) (518 )
NET ASSETS 276,533 275,908

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 276,433 275,808
SHAREHOLDERS' FUNDS 276,533 275,908

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

BASINGSTOKE AUTOCENTRE LIMITED (REGISTERED NUMBER: 05251701)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





Miss S T Digweed - Director


BASINGSTOKE AUTOCENTRE LIMITED (REGISTERED NUMBER: 05251701)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Basingstoke 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, has been amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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 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.

BASINGSTOKE AUTOCENTRE LIMITED (REGISTERED NUMBER: 05251701)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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 5 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 120,000
AMORTISATION
At 1 April 2022
and 31 March 2023 120,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 14,765 47,695 62,460
Additions - 432 432
At 31 March 2023 14,765 48,127 62,892
DEPRECIATION
At 1 April 2022 14,765 41,261 56,026
Charge for year - 1,695 1,695
At 31 March 2023 14,765 42,956 57,721
NET BOOK VALUE
At 31 March 2023 - 5,171 5,171
At 31 March 2022 - 6,434 6,434

BASINGSTOKE AUTOCENTRE LIMITED (REGISTERED NUMBER: 05251701)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,541 8,851
Other debtors 295,559 298,278
309,100 307,129

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,210 6,210
Trade creditors 30,673 33,346
Taxation and social security 30,414 19,532
Other creditors 148,770 147,743
216,067 206,831

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 35,355 40,477

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,514 15,636

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

10. RELATED PARTY DISCLOSURES

Included in other debtors at the year end are amounts totalling £294,506 (2022: £294,506) owed by entities in which the directors have an interest. These amounts are interest free and repayable on demand.

Included in other creditors at the year end are amounts totalling £120,000 (2022: £120,000) owed to entities in which the directors have an interest. These amounts are interest free and repayable on demand.

Included in other creditors at the year end are amounts totalling £25,000 (2022: £25,000) in respect of monies loaned to the company by a family member of S Gorman, a director. These amounts are interest free and repayable on demand.