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REGISTERED NUMBER: 04088231 (England and Wales)



















Unaudited Financial Statements

for the Period 1 October 2022 to 31 December 2023

for

Derby Auto Electrical Services Limited

Derby Auto Electrical Services Limited (Registered number: 04088231)






Contents of the Financial Statements
for the Period 1 October 2022 to 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Derby Auto Electrical Services Limited

Company Information
for the Period 1 October 2022 to 31 December 2023







DIRECTORS: Mrs L J Ross
A S Ross





SECRETARY: Mrs L J Ross





REGISTERED OFFICE: 11 Canal Street
Derby
Derbyshire
DE1 2RJ





REGISTERED NUMBER: 04088231 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Derby Auto Electrical Services Limited (Registered number: 04088231)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 105,625 121,557
Investment property 6 - 150,000
105,625 271,557

CURRENT ASSETS
Stocks 385,000 324,500
Debtors 7 494,932 347,696
Cash at bank and in hand 255,713 181,691
1,135,645 853,887
CREDITORS
Amounts falling due within one year 8 337,944 398,534
NET CURRENT ASSETS 797,701 455,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

903,326

726,910

PROVISIONS FOR LIABILITIES 8,035 21,455
NET ASSETS 895,291 705,455

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 895,281 705,445
895,291 705,455

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Derby Auto Electrical Services Limited (Registered number: 04088231)

Balance Sheet - continued
31 December 2023


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 Profit and Loss Account 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:





A S Ross - Director


Derby Auto Electrical Services Limited (Registered number: 04088231)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 December 2023

1. STATUTORY INFORMATION

Derby Auto Electrical Services 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is amortised over its estimated useful economic life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

Derby Auto Electrical Services Limited (Registered number: 04088231)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Accounting periods
These accounts cover a period of 15 months from 1 October 2022 to 31 December 2023.

The comparative data covers a period of 11 months from 1 November 2021 to 30 September 2022.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 23 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 31 December 2023 9,600
AMORTISATION
At 1 October 2022
and 31 December 2023 9,600
NET BOOK VALUE
At 31 December 2023 -
At 30 September 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1 October 2022
and 31 December 2023 90,000 51,184 95,995 97,671 334,850
DEPRECIATION
At 1 October 2022 14,267 51,183 85,822 62,021 213,293
Charge for period 2,250 - 2,542 11,140 15,932
At 31 December 2023 16,517 51,183 88,364 73,161 229,225
NET BOOK VALUE
At 31 December 2023 73,483 1 7,631 24,510 105,625
At 30 September 2022 75,733 1 10,173 35,650 121,557

Derby Auto Electrical Services Limited (Registered number: 04088231)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 December 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 150,000
Disposals (150,000 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 30 September 2022 150,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 348,070 327,199
Other debtors 14,361 15,997
Owed by related parties 120,650 -
Prepayments 11,851 4,500
494,932 347,696

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 174,697 199,598
Tax 80,023 23,199
Social security and other taxes 43,666 38,063
Other creditors 10,951 9,482
Directors' current accounts 24,787 121,867
Accrued expenses 3,820 6,325
337,944 398,534

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the period end the company owed the directors, A S Ross and L J Ross £24,787 (2022: £121,867).

During the period A S Ross was paid rent of £11,200 (2022: £8,800).

Dividends totalling £43,180 (2022: £39,700) were paid to the directors.

During the period the company loaned £120,000 to the directors' SIPP under normal commercial terms. Interest is receivable on the loan at 6.5% per annum. The full capital balance, plus accrued interest of £650, remained outstanding as at the period end. Interest of £5,850 was received during the period.

During the period the company sold the investment property to the directors at the full market value of £165,000.

10. CONTROLLING PARTY

The company is under the control of the directors.