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REGISTERED NUMBER: 05948582 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

AUTOCENTRE LIMITED

AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AUTOCENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: G P Watson
Mrs K Watson
J W Birkett





REGISTERED OFFICE: Auto Centre
Friday Street
Chorley
PR6 0AA





REGISTERED NUMBER: 05948582 (England and Wales)





ACCOUNTANTS: Ryans
Chartered Accountants
67 Chorley Old Road
Bolton
BL1 3AJ

AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)

BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 49,382 42,436
49,382 42,436

CURRENT ASSETS
Stocks 11,566 16,897
Debtors 6 48,566 66,849
Cash at bank and in hand 360,410 226,384
420,542 310,130
CREDITORS
Amounts falling due within one year 7 303,460 165,676
NET CURRENT ASSETS 117,082 144,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

166,464

186,890

CREDITORS
Amounts falling due after more than one
year

8

(38,333

)

(58,333

)

PROVISIONS FOR LIABILITIES (9,589 ) (9,793 )
NET ASSETS 118,542 118,764

CAPITAL AND RESERVES
Called up share capital 10 2,000 2,000
Retained earnings 116,542 116,764
SHAREHOLDERS' FUNDS 118,542 118,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 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.

AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)

BALANCE SHEET - continued
30TH APRIL 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st July 2024 and were signed on its behalf by:





G P Watson - Director


AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

Autocentre 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Revenue, described as turnover, represents the value of goods and services (net of VAT) provided to customers during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2006, was amortised evenly over its estimated useful life.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st May 2023
and 30th April 2024 120,000
AMORTISATION
At 1st May 2023
and 30th April 2024 120,000
NET BOOK VALUE
At 30th April 2024 -
At 30th April 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st May 2023 1,740 61,996 26,058
Additions - 11,588 3,398
Disposals - - -
At 30th April 2024 1,740 73,584 29,456
DEPRECIATION
At 1st May 2023 463 40,374 14,365
Charge for year 174 6,614 1,999
Eliminated on disposal - - -
At 30th April 2024 637 46,988 16,364
NET BOOK VALUE
At 30th April 2024 1,103 26,596 13,092
At 30th April 2023 1,277 21,622 11,693

AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st May 2023 21,033 6,545 117,372
Additions - 3,567 18,553
Disposals - (1,063 ) (1,063 )
At 30th April 2024 21,033 9,049 134,862
DEPRECIATION
At 1st May 2023 14,422 5,312 74,936
Charge for year 1,653 1,127 11,567
Eliminated on disposal - (1,023 ) (1,023 )
At 30th April 2024 16,075 5,416 85,480
NET BOOK VALUE
At 30th April 2024 4,958 3,633 49,382
At 30th April 2023 6,611 1,233 42,436

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,795 31,159
Matlo Properties Ltd 2,512 1,026
Other debtors 18,779 7,303
K Watson Holdings Ltd - 11,500
J Birkett Holdings Ltd - 13,783
Prepayments 2,480 2,078
48,566 66,849

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,000 20,000
Trade creditors 77,908 33,250
Tax 89,834 19,545
Social security and other taxes 2,956 2,162
VAT 28,269 19,269
Other creditors 1,897 1,160
Credit card 30 6,807
K Watson Holdings Ltd 2,936 -
J Birkett Holdings Ltd 2,936 -
Directors current account 70,231 57,385
Accrued expenses 6,463 6,098
303,460 165,676

AUTOCENTRE LIMITED (REGISTERED NUMBER: 05948582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 20,000 20,000
Bank loans - 2-5 years 18,333 38,333
38,333 58,333

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 38,696 38,696
Between one and five years 154,784 154,784
In more than five years 221,304 260,000
414,784 453,480

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
630 A Ordinary £1 630 630
370 B Ordinary £1 370 370
500 C Ordinary £1 500 500
500 D Ordinary £1 500 500
2,000 2,000

11. ULTIMATE CONTROLLING PARTY

The company was controlled throughout this period by its directors, by virtue of the fact that they beneficially own the whole of the issued share capital.