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Company Registration No. 5717108 (England and Wales)
Banbury Autos Ltd Unaudited accounts for the year ended 31 March 2024
Banbury Autos Ltd Unaudited accounts Contents
Page
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Banbury Autos Ltd Company Information for the year ended 31 March 2024
Director
Mr J P Colmer
Company Number
5717108 (England and Wales)
Registered Office
Moreton House 31 High Street Buckingham MK18 1NU
Accountants
Anthistle Craven Moreton House 31 High Street Buckingham Bucks MK18 1NU
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Banbury Autos Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
18,319 
18,902 
Current assets
Inventories
3,097 
3,185 
Debtors
39,152 
28,100 
Cash at bank and in hand
8,218 
21,932 
50,467 
53,217 
Creditors: amounts falling due within one year
(49,941)
(41,598)
Net current assets
526 
11,619 
Total assets less current liabilities
18,845 
30,521 
Provisions for liabilities
Deferred tax
(3,085)
(3,196)
Net assets
15,760 
27,325 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
15,759 
27,324 
Shareholders' funds
15,760 
27,325 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 July 2024 and were signed on its behalf by
Mr J P Colmer Director Company Registration No. 5717108
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Banbury Autos Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Banbury Autos Ltd is a private company, limited by shares, registered in England and Wales, registration number 5717108. The registered office is Moreton House, 31 High Street, Buckingham, MK18 1NU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing balance
Motor vehicles
15% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
15% on reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Banbury Autos Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
53,316 
6,000 
1,756 
4,955 
66,027 
Additions
- 
2,650 
- 
- 
2,650 
At 31 March 2024
53,316 
8,650 
1,756 
4,955 
68,677 
Depreciation
At 1 April 2023
40,317 
900 
1,517 
4,391 
47,125 
Charge for the year
1,950 
1,163 
36 
84 
3,233 
At 31 March 2024
42,267 
2,063 
1,553 
4,475 
50,358 
Net book value
At 31 March 2024
11,049 
6,587 
203 
480 
18,319 
At 31 March 2023
12,999 
5,100 
239 
564 
18,902 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
38,069 
27,017 
Accrued income and prepayments
1,083 
1,083 
39,152 
28,100 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
19,713 
18,378 
Taxes and social security
21,249 
14,646 
Other creditors
7,379 
6,774 
Accruals
1,600 
1,800 
49,941 
41,598 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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