Autowork (Salisbury) Limited 10472617 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the repair and maintenance of motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true true 10472617 2023-01-01 2023-12-31 10472617 2023-12-31 10472617 bus:OrdinaryShareClass1 2023-12-31 10472617 bus:OrdinaryShareClass2 2023-12-31 10472617 bus:OrdinaryShareClass3 2023-12-31 10472617 core:RetainedEarningsAccumulatedLosses 2023-12-31 10472617 core:ShareCapital 2023-12-31 10472617 core:CurrentFinancialInstruments 2023-12-31 10472617 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10472617 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 10472617 core:Goodwill 2023-12-31 10472617 core:FurnitureFittingsToolsEquipment 2023-12-31 10472617 core:MotorVehicles 2023-12-31 10472617 core:OtherPropertyPlantEquipment 2023-12-31 10472617 bus:SmallEntities 2023-01-01 2023-12-31 10472617 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10472617 bus:FilletedAccounts 2023-01-01 2023-12-31 10472617 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10472617 bus:RegisteredOffice 2023-01-01 2023-12-31 10472617 bus:Director2 2023-01-01 2023-12-31 10472617 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 10472617 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 10472617 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 10472617 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10472617 core:Goodwill 2023-01-01 2023-12-31 10472617 core:FurnitureFittings 2023-01-01 2023-12-31 10472617 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 10472617 core:MotorVehicles 2023-01-01 2023-12-31 10472617 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 10472617 core:PlantMachinery 2023-01-01 2023-12-31 10472617 countries:EnglandWales 2023-01-01 2023-12-31 10472617 2022-12-31 10472617 core:Goodwill 2022-12-31 10472617 core:FurnitureFittingsToolsEquipment 2022-12-31 10472617 core:MotorVehicles 2022-12-31 10472617 core:OtherPropertyPlantEquipment 2022-12-31 10472617 2022-01-01 2022-12-31 10472617 2022-12-31 10472617 bus:OrdinaryShareClass1 2022-12-31 10472617 bus:OrdinaryShareClass2 2022-12-31 10472617 bus:OrdinaryShareClass3 2022-12-31 10472617 core:RetainedEarningsAccumulatedLosses 2022-12-31 10472617 core:ShareCapital 2022-12-31 10472617 core:CurrentFinancialInstruments 2022-12-31 10472617 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 10472617 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 10472617 core:Goodwill 2022-12-31 10472617 core:FurnitureFittingsToolsEquipment 2022-12-31 10472617 core:MotorVehicles 2022-12-31 10472617 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10472617

Autowork (Salisbury) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Autowork (Salisbury) Limited

(Registration number: 10472617)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

120,000

160,000

Tangible assets

5

9,018

8,211

 

129,018

168,211

Current assets

 

Stocks

6

2,750

2,750

Debtors

7

10,189

17,523

Cash at bank and in hand

 

528,990

442,837

 

541,929

463,110

Creditors: Amounts falling due within one year

8

(187,268)

(173,113)

Net current assets

 

354,661

289,997

Total assets less current liabilities

 

483,679

458,208

Creditors: Amounts falling due after more than one year

8

(78,601)

(118,597)

Provisions for liabilities

(1,475)

(1,442)

Net assets

 

403,603

338,169

Capital and reserves

 

Called up share capital

9

600

600

Retained earnings

403,003

337,569

Shareholders' funds

 

403,603

338,169

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 11 March 2024 and signed on its behalf by:
 

.........................................
J L Vigor
Director

 

Autowork (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
35 Chequers Court
Brown Street
Salisbury
Wiltshire
SP1 2AS
England

These financial statements were authorised for issue by the Board on 11 March 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Autowork (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

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

Fixtures and fittings

25% reducing balance

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

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

Straight line over 10 years

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.

 

Autowork (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 8).

 

Autowork (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

400,000

400,000

At 31 December 2023

400,000

400,000

Amortisation

At 1 January 2023

240,000

240,000

Amortisation charge

40,000

40,000

At 31 December 2023

280,000

280,000

Carrying amount

At 31 December 2023

120,000

120,000

At 31 December 2022

160,000

160,000

 

Autowork (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

4,422

6,400

12,150

22,972

Additions

1,952

875

1,332

4,159

At 31 December 2023

6,374

7,275

13,482

27,131

Depreciation

At 1 January 2023

2,298

4,537

7,926

14,761

Charge for the year

1,356

618

1,378

3,352

At 31 December 2023

3,654

5,155

9,304

18,113

Carrying amount

At 31 December 2023

2,720

2,120

4,178

9,018

At 31 December 2022

2,124

1,863

4,224

8,211

6

Stocks

2023
£

2022
£

Other inventories

2,750

2,750

7

Debtors

Current

2023
£

2022
£

Trade debtors

4,950

12,504

Prepayments

5,239

5,019

 

10,189

17,523

 

Autowork (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

30,288

30,080

Taxation and social security

112,380

96,436

Accruals and deferred income

3,583

4,437

Other creditors

41,017

42,160

187,268

173,113

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

78,601

118,597

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A shares of £1 each

200

200

200

200

Ordinary B shares of £1 each

200

200

200

200

Ordinary C shares of £1 each

200

200

200

200

600

600

600

600