AMJ Auto Services Ltd 09235063 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is that of towbar installation and motor vehicle servicing. Digita Accounts Production Advanced 6.30.9574.0 true 09235063 2022-10-01 2023-09-30 09235063 2023-09-30 09235063 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-09-30 09235063 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-09-30 09235063 core:CurrentFinancialInstruments 2023-09-30 09235063 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 09235063 core:Non-currentFinancialInstruments 2023-09-30 09235063 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 09235063 core:Goodwill 2023-09-30 09235063 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 09235063 core:MotorVehicles 2023-09-30 09235063 core:OfficeEquipment 2023-09-30 09235063 core:PlantMachinery 2023-09-30 09235063 bus:SmallEntities 2022-10-01 2023-09-30 09235063 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 09235063 bus:FullAccounts 2022-10-01 2023-09-30 09235063 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 09235063 bus:RegisteredOffice 2022-10-01 2023-09-30 09235063 bus:Director1 2022-10-01 2023-09-30 09235063 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 09235063 core:Goodwill 2022-10-01 2023-09-30 09235063 core:FurnitureFittings 2022-10-01 2023-09-30 09235063 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 09235063 core:LeaseholdImprovements 2022-10-01 2023-09-30 09235063 core:MotorVehicles 2022-10-01 2023-09-30 09235063 core:OfficeEquipment 2022-10-01 2023-09-30 09235063 core:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 09235063 core:PlantMachinery 2022-10-01 2023-09-30 09235063 countries:EnglandWales 2022-10-01 2023-09-30 09235063 2022-09-30 09235063 core:Goodwill 2022-09-30 09235063 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 09235063 core:MotorVehicles 2022-09-30 09235063 core:OfficeEquipment 2022-09-30 09235063 core:PlantMachinery 2022-09-30 09235063 2021-10-01 2022-09-30 09235063 2022-09-30 09235063 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-09-30 09235063 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-09-30 09235063 core:CurrentFinancialInstruments 2022-09-30 09235063 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 09235063 core:Non-currentFinancialInstruments 2022-09-30 09235063 core:Non-currentFinancialInstruments core:AfterOneYear 2022-09-30 09235063 core:Goodwill 2022-09-30 09235063 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 09235063 core:MotorVehicles 2022-09-30 09235063 core:OfficeEquipment 2022-09-30 09235063 core:PlantMachinery 2022-09-30 iso4217:GBP xbrli:pure

Registration number: 09235063

AMJ Auto Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

AMJ Auto Services Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

AMJ Auto Services Ltd

(Registration number: 09235063)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

1,500

3,000

Tangible assets

5

41,581

27,153

 

43,081

30,153

Current assets

 

Stocks

6

3,000

3,000

Debtors

7

13,858

10,906

Cash at bank and in hand

 

40,971

58,545

 

57,829

72,451

Creditors: Amounts falling due within one year

8

(29,376)

(31,028)

Net current assets

 

28,453

41,423

Total assets less current liabilities

 

71,534

71,576

Creditors: Amounts falling due after more than one year

8

(46,658)

(56,406)

Provisions for liabilities

(5,793)

(6,789)

Net assets

 

19,083

8,381

Capital and reserves

 

Called up share capital

100

100

Retained earnings

18,983

8,281

Shareholders' funds

 

19,083

8,381

 

AMJ Auto Services Ltd

(Registration number: 09235063)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 April 2024
 

.........................................
G Martin Jones
Director

 

AMJ Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of towbar installation and other motoring services. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

AMJ Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

20% reducing balance basis

Plant and machinery

20% reducing balance basis

Office equipment

20% reducing balance basis

Fixtures and fittings

20% reducing balance basis

Motor vehicles

25% reducing balance basis

Property Improvements

10% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for towbar installation and other motoring services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

AMJ Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

AMJ Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

15,000

15,000

At 30 September 2023

15,000

15,000

Amortisation

At 1 October 2022

12,000

12,000

Amortisation charge

1,500

1,500

At 30 September 2023

13,500

13,500

Carrying amount

At 30 September 2023

1,500

1,500

At 30 September 2022

3,000

3,000

 

AMJ Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

5

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

-

6,296

1,307

36,081

43,684

Additions

19,306

321

2,312

1,200

23,139

Disposals

-

-

-

(1,200)

(1,200)

At 30 September 2023

19,306

6,617

3,619

36,081

65,623

Depreciation

At 1 October 2022

-

1,817

411

14,303

16,531

Charge for the year

894

896

276

5,445

7,511

At 30 September 2023

894

2,713

687

19,748

24,042

Carrying amount

At 30 September 2023

18,412

3,904

2,932

16,333

41,581

At 30 September 2022

-

4,479

896

21,778

27,153

6

Stocks

2023
£

2022
£

Other inventories

3,000

3,000

7

Debtors

Current

2023
£

2022
£

Trade debtors

11,031

7,042

Prepayments

2,627

2,265

Other debtors

200

1,599

 

13,858

10,906

 

AMJ Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

9,512

11,999

Trade creditors

10,457

8,996

Taxation and social security

6,420

7,184

Other creditors

2,987

2,849

29,376

31,028

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

46,658

56,406

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,306

5,174

Hire purchase contracts

4,206

6,825

9,512

11,999

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

33,201

38,518

Hire purchase contracts

13,457

17,888

46,658

56,406

Finance lease is secured against the asset it relates to.

 

AMJ Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

10

Related party transactions

Transactions with director

G Martin Jones (director) had a loan account with the company. At the balance sheet date the amount due to/(from) G Martin Jones was £222 (2022 - £84).