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Registration number: 07199302

Wash Water MOT and Service Centre Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Wash Water MOT and Service Centre Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Wash Water MOT and Service Centre Ltd

(Registration number: 07199302)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,994

7,156

Current assets

 

Stocks

6

824

809

Debtors

7

14,562

14,787

Cash at bank and in hand

 

22,260

10,715

 

37,646

26,311

Creditors: Amounts falling due within one year

8

(34,239)

(32,448)

Net current assets/(liabilities)

 

3,407

(6,137)

Net assets

 

10,401

1,019

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

9,401

19

Shareholders' funds

 

10,401

1,019

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 August 2024 and signed on its behalf by:
 

.........................................
A D Harris
Director

 

Wash Water MOT and Service Centre Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have considered the impact of the global Covid-19 pandemic on the ability of the company to continue trading for the foreseeable future, based on this review and taken together with existing reserves the directors are confident that they can sustain the business therefore the accounts have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of vehicle repairs and MOT services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Wash Water MOT and Service Centre Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance basis

Motor vehicles

20% reducing balance basis

Office equipment

20% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for vehicle repairs and MOT services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Wash Water MOT and Service Centre Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

3

Other operating income

2024

2023

£

£

Government grant for small business rates relief

-

Coronavirus job retention scheme

-

7,597

-

7,597

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

8,016

283

9,160

17,459

Additions

-

1,643

-

1,643

Disposals

-

(283)

-

(283)

At 31 March 2024

8,016

1,643

9,160

18,819

Depreciation

At 1 April 2023

7,290

253

2,760

10,303

Charge for the year

145

329

1,301

1,775

Eliminated on disposal

-

(253)

-

(253)

At 31 March 2024

7,435

329

4,061

11,825

Carrying amount

At 31 March 2024

581

1,314

5,099

6,994

At 31 March 2023

726

30

6,400

7,156

6

Stocks

2024
£

2023
£

Other inventories

824

809

 

Wash Water MOT and Service Centre Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

10,484

11,418

Prepayments

4,078

3,369

 

14,562

14,787

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

11,589

14,000

Taxation and social security

12,695

8,935

Other creditors

9,955

9,513

34,239

32,448