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Company Registration No. 12235907 (England and Wales)
AC Automotive Electrical Limited Unaudited accounts for the year ended 31 October 2023
AC Automotive Electrical Limited Unaudited accounts Contents
Page
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AC Automotive Electrical Limited Company Information for the year ended 31 October 2023
Directors
A G Cross L Noon
Company Number
12235907 (England and Wales)
Registered Office
Unit 2, Bentley Farm Warton Tamworth Staffordshire B79 0HD
Accountants
R M Accountancy Services Ltd The Old Post Office 137-139 Long Street Dordon Staffordshire B78 1SH
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AC Automotive Electrical Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
27,088 
33,859 
Current assets
Inventories
2,100 
2,100 
Debtors
1,797 
2,101 
Cash at bank and in hand
4,081 
9,062 
7,978 
13,263 
Creditors: amounts falling due within one year
(31,172)
(41,615)
Net current liabilities
(23,194)
(28,352)
Total assets less current liabilities
3,894 
5,507 
Creditors: amounts falling due after more than one year
- 
(2,100)
Net assets
3,894 
3,407 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
3,892 
3,405 
Shareholders' funds
3,894 
3,407 
For the year ending 31 October 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 12 March 2024 and were signed on its behalf by
A G Cross Director Company Registration No. 12235907
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AC Automotive Electrical Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
AC Automotive Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 12235907. The registered office is Unit 2, Bentley Farm, Warton, Tamworth, Staffordshire, B79 0HD.
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.
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.
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% Reducing balance
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.
Leased assets
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Presentation currency
The accounts are presented in £ sterling.
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AC Automotive Electrical Limited Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 November 2022
64,817 
At 31 October 2023
64,817 
Depreciation
At 1 November 2022
30,958 
Charge for the year
6,771 
At 31 October 2023
37,729 
Net book value
At 31 October 2023
27,088 
At 31 October 2022
33,859 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,797 
2,101 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
3,724 
4,422 
Obligations under finance leases and hire purchase contracts
2,100 
2,100 
Trade creditors
3,236 
565 
Taxes and social security
5,937 
5,996 
Loans from directors
16,175 
28,532 
31,172 
41,615 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
2,100 
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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