Registered number
04085968
P & S Auto Services Limited
Filleted Accounts
31 January 2024
P & S Auto Services Limited
Registered number: 04085968
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 58,154 46,692
58,154 46,692
Current assets
Stocks 3,324 16,666
Debtors 4 8,522 11,541
Cash at bank and in hand 48,916 45,342
60,762 73,549
Creditors: amounts falling due within one year 5 (17,572) (44,173)
Net current assets 43,190 29,376
Total assets less current liabilities 101,344 76,068
Net assets 101,344 76,068
Capital and reserves
Called up share capital 2 2
Profit and loss account 101,342 76,066
Shareholders' funds 101,344 76,068
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Peter Renny Dixon
Director
Approved by the board on 8 August 2024
P & S Auto Services Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 128,625 31,528 160,153
Additions - 26,000 26,000
Surplus on revaluation - - -
Disposals - - -
At 31 January 2024 128,625 57,528 186,153
Depreciation
At 1 February 2023 97,544 15,917 113,461
Charge for the year 6,216 8,322 14,538
Surplus on revaluation - - -
On disposals - - -
At 31 January 2024 103,760 24,239 127,999
Net book value
At 31 January 2024 24,865 33,289 58,154
At 31 January 2023 31,081 15,611 46,692
4 Debtors 2024 2023
£ £
Trade debtors 8,522 11,541
8,522 11,541
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,894 2,545
Taxation and social security costs 7,453 4,551
Other creditors 6,225 37,077
17,572 44,173
6 Controlling party
The Company is controlled by the Directors.
7 Other information
P & S Auto Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
168-170 Stanley Green Road
Poole
Dorset
BH15 3AH
P & S Auto Services Limited 04085968 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 Mr Peter Renny Dixon No description of principal activity 04085968 2022-02-01 2023-01-31 04085968 core:WithinOneYear 2023-01-31 04085968 core:ShareCapital 2023-01-31 04085968 core:RetainedEarningsAccumulatedLosses 2023-01-31 04085968 2023-02-01 2024-01-31 04085968 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04085968 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04085968 bus:Director40 2023-02-01 2024-01-31 04085968 1 2023-02-01 2024-01-31 04085968 2 2023-02-01 2024-01-31 04085968 core:PlantMachinery 2023-02-01 2024-01-31 04085968 core:Vehicles 2023-02-01 2024-01-31 04085968 countries:England 2023-02-01 2024-01-31 04085968 bus:FRS102 2023-02-01 2024-01-31 04085968 bus:FilletedAccounts 2023-02-01 2024-01-31 04085968 2024-01-31 04085968 core:WithinOneYear 2024-01-31 04085968 core:ShareCapital 2024-01-31 04085968 core:RetainedEarningsAccumulatedLosses 2024-01-31 04085968 core:PlantMachinery 2024-01-31 04085968 core:Vehicles 2024-01-31 04085968 2023-01-31 04085968 core:PlantMachinery 2023-01-31 04085968 core:Vehicles 2023-01-31 iso4217:GBP xbrli:pure