Company registration number 05933252 (England and Wales)
AUTO CLUBS INTERNATIONAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
AUTO CLUBS INTERNATIONAL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
AUTO CLUBS INTERNATIONAL LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
902
2,553
Current assets
Debtors
4
20,456
10,060
Cash at bank and in hand
58,546
26,996
79,002
37,056
Creditors: amounts falling due within one year
5
(48,940)
(50,379)
Net current assets/(liabilities)
30,062
(13,323)
Total assets less current liabilities
30,964
(10,770)
Creditors: amounts falling due after more than one year
6
(14,981)
(25,114)
Net assets/(liabilities)
15,983
(35,884)
Capital and reserves
Called up share capital
7
156
156
Share premium account
177,582
177,582
Profit and loss reserves
(161,755)
(213,622)
Total equity
15,983
(35,884)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

AUTO CLUBS INTERNATIONAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 August 2024 and are signed on its behalf by:
E Menzky
Director
Company Registration No. 05933252
AUTO CLUBS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Auto Clubs International Limited is a private company limited by shares incorporated in England and Wales. The registered office is 37 Commercial Road, Poole, Dorset, BH14 0HU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
Straight line over 3 years
Computers
Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

AUTO CLUBS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

AUTO CLUBS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
19,596
Disposals
(16,800)
At 31 December 2023
2,796
Depreciation and impairment
At 1 January 2023
17,043
Depreciation charged in the year
1,308
Eliminated in respect of disposals
(16,457)
At 31 December 2023
1,894
Carrying amount
At 31 December 2023
902
At 31 December 2022
2,553
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
9,694
Other debtors
20,456
366
20,456
10,060
AUTO CLUBS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
9,970
9,726
Trade creditors
413
662
Taxation and social security
5,472
6,048
Other creditors
33,085
33,943
48,940
50,379
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,981
25,114
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.1p each
156,447
156,447
156
156
2023-12-312023-01-01false07 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityS M BarnesE MenzkyS Berryfalsefalse059332522023-01-012023-12-31059332522023-12-31059332522022-12-3105933252core:OtherPropertyPlantEquipment2023-12-3105933252core:OtherPropertyPlantEquipment2022-12-3105933252core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3105933252core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3105933252core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3105933252core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3105933252core:CurrentFinancialInstruments2023-12-3105933252core:CurrentFinancialInstruments2022-12-3105933252core:ShareCapital2023-12-3105933252core:ShareCapital2022-12-3105933252core:SharePremium2023-12-3105933252core:SharePremium2022-12-3105933252core:RetainedEarningsAccumulatedLosses2023-12-3105933252core:RetainedEarningsAccumulatedLosses2022-12-3105933252bus:Director22023-01-012023-12-3105933252core:FurnitureFittings2023-01-012023-12-3105933252core:ComputerEquipment2023-01-012023-12-31059332522022-01-012022-12-3105933252core:OtherPropertyPlantEquipment2022-12-3105933252core:OtherPropertyPlantEquipment2023-01-012023-12-3105933252core:WithinOneYear2023-12-3105933252core:WithinOneYear2022-12-3105933252core:Non-currentFinancialInstruments2023-12-3105933252core:Non-currentFinancialInstruments2022-12-3105933252bus:PrivateLimitedCompanyLtd2023-01-012023-12-3105933252bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105933252bus:FRS1022023-01-012023-12-3105933252bus:AuditExemptWithAccountantsReport2023-01-012023-12-3105933252bus:Director12023-01-012023-12-3105933252bus:Director32023-01-012023-12-3105933252bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP