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REGISTERED NUMBER: 03742777 (England and Wales)















D.K. AUTOS (ALDERSHOT) LIMITED

Financial Statements for the Year Ended 31 December 2023






D.K. AUTOS (ALDERSHOT) LIMITED (REGISTERED NUMBER: 03742777)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


D.K. AUTOS (ALDERSHOT) LIMITED

Company Information
for the year ended 31 December 2023







DIRECTORS: H S Nash
Mrs R C Laws





REGISTERED OFFICE: Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ





REGISTERED NUMBER: 03742777 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Chartered Accountants and Statutory Auditors
Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ

D.K. AUTOS (ALDERSHOT) LIMITED (REGISTERED NUMBER: 03742777)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 11,377

CURRENT ASSETS
Stocks - 42,651
Debtors 5 2 422,071
Cash at bank and in hand - 39,195
2 503,917
CREDITORS
Amounts falling due within one year 6 - 584,341
NET CURRENT ASSETS/(LIABILITIES) 2 (80,424 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2

(69,047

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings - (69,049 )
2 (69,047 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:





H S Nash - Director


D.K. AUTOS (ALDERSHOT) LIMITED (REGISTERED NUMBER: 03742777)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

D.K. Autos (Aldershot) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have not been prepared on a going concern basis as a result of a hive-across transaction.

The hive-across transaction involved the transfer of the trade and assets of the Company to Page Automotive Group Limited. As a result of this transaction, the Company ceased trading and its business operations transferred with effect from 31st December 2023.

Given the hive-across transaction, the Directors have concluded that the Company no longer meets the criteria of a going concern. Consequently, the financial statements have been prepared on a basis other than going concern. These financial statements have been prepared on a basis that reflects the cessation of operations following the hive-across transaction, ensuring that all relevant assets, liabilities, and provisions are recognised appropriately.

The financial statements are presented in Sterling which is the functional currency of the company.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

TURNOVER
Turnover represents net invoiced sales for services, excluding value added tax.

Revenue is recognised upon completion of the job.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 15% on cost
Plant and machinery etc - 25% on reducing balance

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure including an amount to cover staff time spent on jobs.


D.K. AUTOS (ALDERSHOT) LIMITED (REGISTERED NUMBER: 03742777)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

FINANCIAL INSTRUMENTS
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 16 ).

D.K. AUTOS (ALDERSHOT) LIMITED (REGISTERED NUMBER: 03742777)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 60,229 306,210 366,439
Reclassification/transfer (60,229 ) (306,210 ) (366,439 )
At 31 December 2023 - - -
DEPRECIATION
At 1 January 2023 51,854 303,208 355,062
Reclassification/transfer (51,854 ) (303,208 ) (355,062 )
At 31 December 2023 - - -
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 8,375 3,002 11,377

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 210,853
Amounts owed by group undertakings 2 175,591
Other debtors - 35,627
2 422,071

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 213,744
Amounts owed to group undertakings - 152,747
Taxation and social security - 60,833
Other creditors - 157,017
- 584,341

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 80,937
Between one and five years - 107,899
- 188,836

D.K. AUTOS (ALDERSHOT) LIMITED (REGISTERED NUMBER: 03742777)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


We draw attention to Note 2 to the financial statements which explains that the directors intend in due course to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.

Donald Nelson, FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

9. CONTINGENT LIABILITIES

The company is jointly and severally liable in respect of VAT liabilities arising in other group undertakings. The contingent liability at 31st December 2023 amounted to £446,138 (2022: £301,598)

The company is jointly and severally liable in respect of a bank loan arising in Page Automotive Group Limited, a fellow group company, which is secured by a floating charge over the company's assets. The contingent liability at 31st December 2023 amounted to £583,333 (2022 - £783,333).

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities, assist with the preparation of the financial statements, to process our payroll and file the related information with HMRC.

11. ULTIMATE CONTROLLING PARTY

At 31 December 2023 the parent company is Automotive Vision Ltd and the ultimate controlling party is Mr H S Nash.