REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
Your Motor Club Ltd |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
Your Motor Club Ltd |
Your Motor Club Ltd (Registered number: 10892931) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 August 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
Your Motor Club Ltd |
COMPANY INFORMATION |
for the year ended 31 August 2022 |
Director: |
Registered office: |
Registered number: |
Accountants: |
129 North Hill |
Plymouth |
Devon |
PL4 8JY |
Your Motor Club Ltd (Registered number: 10892931) |
BALANCE SHEET |
31 August 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Creditors |
Amounts falling due after more than one year |
8 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
Your Motor Club Ltd (Registered number: 10892931) |
BALANCE SHEET - continued |
31 August 2022 |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Your Motor Club Ltd (Registered number: 10892931) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 August 2022 |
1. | STATUTORY INFORMATION |
Your Motor Club Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office and business address can be found on the company information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. The company is dependant on the continued support of its director. The financial statements do not include any adjustments that may result in a withdrawal of funds and therefore the going concern basis is believed to be appropriate. |
Turnover |
Turnover is measured at the fair value of the consideration receivable, net of discounts. Turnover includes revenue earned from the rendering of services which relates to the short term hire of tools and workshop space. Turnover is recognised when invoices are raised subject to adjustments for amounts invoiced in arrears or advance as at the balance sheet date. |
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 |
Short leasehold | - |
Fixtures and fittings | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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. |
Your Motor Club Ltd (Registered number: 10892931) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
Provisions |
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Your Motor Club Ltd (Registered number: 10892931) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2022 |
4. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
Cost |
At 1 September 2021 |
and 31 August 2022 |
Amortisation |
At 1 September 2021 |
Amortisation for year |
At 31 August 2022 |
Net book value |
At 31 August 2022 |
At 31 August 2021 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and |
leasehold | fittings | Totals |
£ | £ | £ |
Cost |
At 1 September 2021 |
and 31 August 2022 |
Depreciation |
At 1 September 2021 |
Charge for year |
At 31 August 2022 |
Net book value |
At 31 August 2022 |
At 31 August 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
Prepayments |
Your Motor Club Ltd (Registered number: 10892931) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
VAT | - | 800 |
Other creditors |
Intercompany loan | 35,133 | 35,133 |
Directors loan account | 1,388 | 22,294 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 10 | 10 |
10. | RELATED PARTY DISCLOSURES |
At the balance sheet date the following amounts were owed to related parties: |
Name | Relationship | Amount |
Lawson Aero Engineering Ltd | See below | £35,133 |
Lawson Aero Engineering Ltd is a company in which Mr A Lawson has a controlling interest. This company is in the process of being liquidated. |
At the balance sheet date the following was owed to the related parties by the company; |
Name | Relationship | Amount |
Mr A Lawson | Director | £1,388 |
The balance above was made up of an bought forward of £22,294 (Credit), from which £2,610 was introduced and £23,515 was withdrawn. |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |