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REGISTERED NUMBER: 05812215 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BASINGSTOKE MOT & TYRE LTD

BASINGSTOKE MOT & TYRE LTD (REGISTERED NUMBER: 05812215)






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 MOT & TYRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Miss S T Digweed
S M Gorman





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





REGISTERED NUMBER: 05812215 (England and Wales)





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

BASINGSTOKE MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 60,000 80,000
Tangible assets 5 39,236 44,674
99,236 124,674

CURRENT ASSETS
Stocks 39,537 30,281
Debtors 6 158,791 169,760
Cash at bank and in hand 407,245 272,211
605,573 472,252
CREDITORS
Amounts falling due within one year 7 358,558 318,234
NET CURRENT ASSETS 247,015 154,018
TOTAL ASSETS LESS CURRENT LIABILITIES 346,251 278,692

CREDITORS
Amounts falling due after more than one
year

8

(35,355

)

(40,477

)

PROVISIONS FOR LIABILITIES (7,395 ) (8,530 )
NET ASSETS 303,501 229,685

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 303,401 229,585
303,501 229,685

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 MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

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 MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

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

1. STATUTORY INFORMATION

Basingstoke MOT & Tyre 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. 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 is being amortised over its estimated useful life of 20 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.
Land and buildings - 10% on cost
Plant and machinery etc - 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 MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

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 12 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 400,000
AMORTISATION
At 1 April 2022 320,000
Charge for year 20,000
At 31 March 2023 340,000
NET BOOK VALUE
At 31 March 2023 60,000
At 31 March 2022 80,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 112,696 267,889 380,585
Additions - 6,700 6,700
At 31 March 2023 112,696 274,589 387,285
DEPRECIATION
At 1 April 2022 107,617 228,294 335,911
Charge for year 564 11,574 12,138
At 31 March 2023 108,181 239,868 348,049
NET BOOK VALUE
At 31 March 2023 4,515 34,721 39,236
At 31 March 2022 5,079 39,595 44,674

BASINGSTOKE MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

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 23,031 11,959
Other debtors 135,760 157,801
158,791 169,760

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,210 6,210
Trade creditors 93,885 64,905
Taxation and social security 76,191 63,621
Other creditors 182,272 183,498
358,558 318,234

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. OTHER FINANCIAL COMMITMENTS

At the year end the company was subject to financial commitments totalling £102,667 (2022: £133,888).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
S M Gorman
Balance outstanding at start of year 20,000 -
Amounts advanced - 20,000
Amounts repaid (20,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 20,000

The loan to the director was repaid shortly after the year end.

BASINGSTOKE MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

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

11. RELATED PARTY DISCLOSURES

Included in other debtors at the year end are amounts totalling £127,491 (2022 £127,491) 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 £177,190 (2022: £177,190) owed to entities in which the directors have an interest. These amounts are interest free and repayable on demand.