6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 45,000 27,000 2,250 29,250 15,750 18,000 xbrli:pure xbrli:shares iso4217:GBP 07582001 2023-04-01 2024-03-31 07582001 2024-03-31 07582001 2023-03-31 07582001 2022-04-01 2023-03-31 07582001 2023-03-31 07582001 2022-03-31 07582001 core:NetGoodwill 2023-04-01 2024-03-31 07582001 core:PlantMachinery 2023-04-01 2024-03-31 07582001 core:FurnitureFittings 2023-04-01 2024-03-31 07582001 core:MotorVehicles 2023-04-01 2024-03-31 07582001 bus:Director1 2023-04-01 2024-03-31 07582001 core:NetGoodwill 2023-03-31 07582001 core:NetGoodwill 2024-03-31 07582001 core:PlantMachinery 2023-03-31 07582001 core:FurnitureFittings 2023-03-31 07582001 core:MotorVehicles 2023-03-31 07582001 core:PlantMachinery 2024-03-31 07582001 core:FurnitureFittings 2024-03-31 07582001 core:MotorVehicles 2024-03-31 07582001 core:WithinOneYear 2024-03-31 07582001 core:WithinOneYear 2023-03-31 07582001 core:ShareCapital 2024-03-31 07582001 core:ShareCapital 2023-03-31 07582001 core:RetainedEarningsAccumulatedLosses 2024-03-31 07582001 core:RetainedEarningsAccumulatedLosses 2023-03-31 07582001 core:NetGoodwill 2023-03-31 07582001 core:PlantMachinery 2023-03-31 07582001 core:FurnitureFittings 2023-03-31 07582001 core:MotorVehicles 2023-03-31 07582001 bus:SmallEntities 2023-04-01 2024-03-31 07582001 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07582001 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07582001 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07582001 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 07582001
PREMIER AUTO SERVICE AND BODY REPAIR CENTRE LTD
Filleted Unaudited Financial Statements
31 March 2024
PREMIER AUTO SERVICE AND BODY REPAIR CENTRE LTD
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
15,750
18,000
Tangible assets
6
40,346
49,708
--------
--------
56,096
67,708
Current assets
Stocks
1,000
2,000
Cash at bank and in hand
111,919
79,844
---------
--------
112,919
81,844
Creditors: amounts falling due within one year
7
25,885
16,729
---------
--------
Net current assets
87,034
65,115
---------
---------
Total assets less current liabilities
143,130
132,823
---------
---------
PREMIER AUTO SERVICE AND BODY REPAIR CENTRE LTD
Statement of Financial Position (continued)
31 March 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
143,030
132,723
---------
---------
Shareholders funds
143,130
132,823
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 August 2024 , and are signed on behalf of the board by:
Mr N Ahmed
Director
Company registration number: 07582001
PREMIER AUTO SERVICE AND BODY REPAIR CENTRE LTD
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 46 The Ridgeway, North Harrow, Harrow, Middlesex, HA2 7QN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Motor vehicle
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
45,000
--------
Amortisation
At 1 April 2023
27,000
Charge for the year
2,250
--------
At 31 March 2024
29,250
--------
Carrying amount
At 31 March 2024
15,750
--------
At 31 March 2023
18,000
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
138,875
3,617
450
142,942
Additions
724
724
---------
-------
----
---------
At 31 March 2024
138,875
4,341
450
143,666
---------
-------
----
---------
Depreciation
At 1 April 2023
90,709
2,222
303
93,234
Charge for the year
9,633
424
29
10,086
---------
-------
----
---------
At 31 March 2024
100,342
2,646
332
103,320
---------
-------
----
---------
Carrying amount
At 31 March 2024
38,533
1,695
118
40,346
---------
-------
----
---------
At 31 March 2023
48,166
1,395
147
49,708
---------
-------
----
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,325
1,326
Corporation tax
4,673
4,275
Social security and other taxes
15,352
9,146
Other creditors
4,535
1,982
--------
--------
25,885
16,729
--------
--------