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REGISTERED NUMBER: 07226236 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Automotive Performance Services
(Brackley) Limited

Automotive Performance Services
(Brackley) Limited (Registered number: 07226236)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Automotive Performance Services
(Brackley) Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: E M Jackson
N M Sammons





REGISTERED OFFICE: 10 Manor Park
Banbury
Oxfordshire
OX16 3TB





REGISTERED NUMBER: 07226236 (England and Wales)





ACCOUNTANTS: Handleys Chartered Accountants
10 Manor Park
Banbury
Oxfordshire
OX16 3TB

Automotive Performance Services
(Brackley) Limited (Registered number: 07226236)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,970 18,373
14,970 18,373

CURRENT ASSETS
Stocks 30,000 30,000
Debtors 6 89,131 74,017
Cash at bank and in hand 27,162 38,550
146,293 142,567
CREDITORS
Amounts falling due within one year 7 121,779 114,735
NET CURRENT ASSETS 24,514 27,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,484

46,205

CREDITORS
Amounts falling due after more than
one year

8

31,043

41,043
NET ASSETS 8,441 5,162

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 8,351 5,072
8,441 5,162

Automotive Performance Services
(Brackley) Limited (Registered number: 07226236)

Balance Sheet - continued
31 May 2023


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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:





E M Jackson - Director


Automotive Performance Services
(Brackley) Limited (Registered number: 07226236)

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

1. STATUTORY INFORMATION

Automotive Performance Services (Brackley) 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.

Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of value added tax and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. For sales of goods, the turnover is shown net of distribution and carriage charges.

Revenue from sale of goods is recognised when significant risks and rewards of ownership have been transferred to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from sale of services is recognised when the stage of completion of the transaction can be measured reliably.

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 six 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 - 33% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on cost

Automotive Performance Services
(Brackley) Limited (Registered number: 07226236)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 4 (2022 - 4 ) .

Automotive Performance Services
(Brackley) Limited (Registered number: 07226236)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 135,000
AMORTISATION
At 1 June 2022
and 31 May 2023 135,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 2,860 104,638 107,498
Additions - 2,244 2,244
At 31 May 2023 2,860 106,882 109,742
DEPRECIATION
At 1 June 2022 2,860 86,265 89,125
Charge for year - 5,647 5,647
At 31 May 2023 2,860 91,912 94,772
NET BOOK VALUE
At 31 May 2023 - 14,970 14,970
At 31 May 2022 - 18,373 18,373

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 29,171 25,730
Other debtors 59,960 48,287
89,131 74,017

Automotive Performance Services
(Brackley) Limited (Registered number: 07226236)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 3,800 3,800
Trade creditors 52,446 39,330
Taxation and social security 36,502 43,354
Other creditors 19,031 18,251
121,779 114,735

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans 20,000 30,000
Hire purchase contracts 11,043 11,043
31,043 41,043