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Company Registration No. 1333857 (England and Wales)
Automec Equipment & Parts Limited Unaudited accounts for the year ended 31 December 2023
Automec Equipment & Parts Limited Unaudited accounts Contents
Page
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Automec Equipment & Parts Limited Company Information for the year ended 31 December 2023
Directors
R F Smith Mrs V J Smith J P Smith
Secretary
Mrs V J smith
Company Number
1333857 (England and Wales)
Registered Office
36 Ballmoor Buckingham Industrial Park Buckingham Buckinghamshire MK18 1RQ
Accountants
Anthistle Craven Moreton House 31 High Street Buckingham Bucks MK18 1NU
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Automec Equipment & Parts Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
43,359 
18,551 
Current assets
Inventories
168,147 
159,916 
Debtors
53,364 
71,670 
Cash at bank and in hand
453,569 
430,691 
675,080 
662,277 
Creditors: amounts falling due within one year
(116,115)
(121,699)
Net current assets
558,965 
540,578 
Total assets less current liabilities
602,324 
559,129 
Provisions for liabilities
Deferred tax
(9,727)
(3,524)
Net assets
592,597 
555,605 
Capital and reserves
Called up share capital
5,000 
5,000 
Profit and loss account
587,597 
550,605 
Shareholders' funds
592,597 
555,605 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by
J P Smith Director Company Registration No. 1333857
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Automec Equipment & Parts Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Automec Equipment & Parts Limited is a private company, limited by shares, registered in England and Wales, registration number 1333857. The registered office is 36 Ballmoor, Buckingham Industrial Park, Buckingham, Buckinghamshire, MK18 1RQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Motor vehicles
20% on cost
Computer equipment
33% on cost
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Automec Equipment & Parts Limited Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
57,744 
58,508 
13,009 
129,261 
Additions
- 
51,172 
- 
51,172 
Disposals
- 
(58,508)
- 
(58,508)
At 31 December 2023
57,744 
51,172 
13,009 
121,925 
Depreciation
At 1 January 2023
54,928 
43,024 
12,758 
110,710 
Charge for the year
563 
10,234 
83 
10,880 
On disposals
- 
(43,024)
- 
(43,024)
At 31 December 2023
55,491 
10,234 
12,841 
78,566 
Net book value
At 31 December 2023
2,253 
40,938 
168 
43,359 
At 31 December 2022
2,816 
15,484 
251 
18,551 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
53,364 
71,670 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
15,148 
1,342 
Trade creditors
66,900 
81,815 
Taxes and social security
18,811 
22,282 
Accruals
15,256 
16,260 
116,115 
121,699 
7
Average number of employees
During the year the average number of employees was 6 (2022: 6).
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