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REGISTERED NUMBER: 07604649 (England and Wales)















Auto-Mech Cheddar Ltd

Unaudited Financial Statements

for the Year Ended 31 August 2023






Auto-Mech Cheddar Ltd (Registered number: 07604649)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Auto-Mech Cheddar Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: A P H Jones
A P H Jones
Mrs L Jones



REGISTERED OFFICE: Unit 4/5
Mendip Vale Trading Estate
Wedmore Road
Cheddar
Somerset
BS27 3EL



REGISTERED NUMBER: 07604649 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: National Westminster Bank plc
PO Box 1400
Bath Street
Cheddar
Somerset
BS99 5BE

Auto-Mech Cheddar Ltd (Registered number: 07604649)

Abridged Statement of Financial Position
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 67,500 75,000
Tangible assets 6 31,228 8,631
98,728 83,631

CURRENT ASSETS
Stocks 13,198 13,260
Debtors 4,402 11,775
Cash at bank and in hand 8,404 2,635
26,004 27,670
CREDITORS
Amounts falling due within one year 92,443 88,158
NET CURRENT LIABILITIES (66,439 ) (60,488 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,289

23,143

CREDITORS
Amounts falling due after more than one year (30,192 ) (20,265 )

PROVISIONS FOR LIABILITIES (2,877 ) (1,461 )
NET (LIABILITIES)/ASSETS (780 ) 1,417

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (880 ) 1,317
SHAREHOLDERS' FUNDS (780 ) 1,417

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

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

Auto-Mech Cheddar Ltd (Registered number: 07604649)

Abridged Statement of Financial Position - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





A P H Jones - Director


Auto-Mech Cheddar Ltd (Registered number: 07604649)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Auto-Mech Cheddar Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which assumes the continued support of the company's directors.

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 2011, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost

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 statement of financial position date.


Auto-Mech Cheddar Ltd (Registered number: 07604649)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022
and 31 August 2023 150,000
AMORTISATION
At 1 September 2022 75,000
Amortisation for year 7,500
At 31 August 2023 82,500
NET BOOK VALUE

At 31 August 2023 67,500
At 31 August 2022 75,000

Auto-Mech Cheddar Ltd (Registered number: 07604649)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 33,768
Additions 31,882
At 31 August 2023 65,650
DEPRECIATION
At 1 September 2022 25,137
Charge for year 9,285
At 31 August 2023 34,422
NET BOOK VALUE
At 31 August 2023 31,228
At 31 August 2022 8,631

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 24,000
At 31 August 2023 24,000
DEPRECIATION
Charge for year 4,800
At 31 August 2023 4,800
NET BOOK VALUE
At 31 August 2023 19,200

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.23 31.8.22
£    £   
Net obligations repayable:
Within one year 6,149 -
Between one and five years 16,909 -
23,058 -

Auto-Mech Cheddar Ltd (Registered number: 07604649)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

7. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.8.23 31.8.22
£    £   
Within one year - 16,947

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 20,257 27,079
Hire purchase contracts 23,058 -
43,315 27,079

The bank loan is 100% backed by the government.

Hire purchase liabilities are secured against the asset to which they relate.