Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-3012022-12-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity1falsetrue 13047917 2022-12-01 2023-11-30 13047917 2021-12-01 2022-11-30 13047917 2023-11-30 13047917 2022-11-30 13047917 c:Director1 2022-12-01 2023-11-30 13047917 d:PlantMachinery 2022-12-01 2023-11-30 13047917 d:PlantMachinery 2023-11-30 13047917 d:PlantMachinery 2022-11-30 13047917 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 13047917 d:FurnitureFittings 2022-12-01 2023-11-30 13047917 d:FurnitureFittings 2023-11-30 13047917 d:FurnitureFittings 2022-11-30 13047917 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 13047917 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 13047917 d:CurrentFinancialInstruments 2023-11-30 13047917 d:CurrentFinancialInstruments 2022-11-30 13047917 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 13047917 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 13047917 d:ShareCapital 2023-11-30 13047917 d:ShareCapital 2022-11-30 13047917 d:RetainedEarningsAccumulatedLosses 2023-11-30 13047917 d:RetainedEarningsAccumulatedLosses 2022-11-30 13047917 c:FRS102 2022-12-01 2023-11-30 13047917 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 13047917 c:FullAccounts 2022-12-01 2023-11-30 13047917 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 13047917 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 13047917










ATA CLASSICS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
ATA CLASSICS LIMITED
REGISTERED NUMBER: 13047917

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,687
10,866

  
8,687
10,866

Current assets
  

Debtors: amounts falling due within one year
 5 
2,216
745

Cash at bank and in hand
 6 
8,914
11,729

  
11,130
12,474

Creditors: amounts falling due within one year
 7 
(18,855)
(22,779)

Net current liabilities
  
 
 
(7,725)
 
 
(10,305)

Total assets less current liabilities
  
962
561

  

Net assets
  
962
561


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
862
461

  
962
561


Page 1

 
ATA CLASSICS LIMITED
REGISTERED NUMBER: 13047917
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 March 2024.




Adam Steven Smith
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ATA CLASSICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

ATA Classics Limited is a Private Company limited by shares which was incorporated in England and Wales. 
The company's principal place of business is:
2 Michaels Court, Hanney Road, Southmoor, Abingdon, OX13 5HR.
The principal activity of the company in the year was that of the maintenance and repair of motor vehicles.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
ATA CLASSICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
ATA CLASSICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







1
1


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 December 2022
17,631
800
18,431


Additions
717
-
717



At 30 November 2023

18,348
800
19,148



Depreciation


At 1 December 2022
7,215
350
7,565


Charge for the year on owned assets
2,783
113
2,896



At 30 November 2023

9,998
463
10,461



Net book value



At 30 November 2023
8,350
337
8,687


5.


Debtors

2023
2022
£
£


Trade debtors
2,216
745
Page 5

 
ATA CLASSICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.Debtors (continued)


2,216
745



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
8,914
11,729

8,914
11,729



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
3,185
2,509

Other creditors
14,170
18,770

Accruals and deferred income
1,500
1,500

18,855
22,779


Page 6