Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302truetrue2022-12-01falseNo description of principal activity2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 0318185 2022-12-01 2023-11-30 0318185 2021-12-01 2022-11-30 0318185 2023-11-30 0318185 2022-11-30 0318185 c:CompanySecretary1 2022-12-01 2023-11-30 0318185 c:Director1 2022-12-01 2023-11-30 0318185 c:Director2 2022-12-01 2023-11-30 0318185 c:RegisteredOffice 2022-12-01 2023-11-30 0318185 d:Buildings d:LongLeaseholdAssets 2022-12-01 2023-11-30 0318185 d:Buildings d:LongLeaseholdAssets 2023-11-30 0318185 d:Buildings d:LongLeaseholdAssets 2022-11-30 0318185 d:LandBuildings 2023-11-30 0318185 d:LandBuildings 2022-11-30 0318185 d:PlantMachinery 2022-12-01 2023-11-30 0318185 d:PlantMachinery 2023-11-30 0318185 d:PlantMachinery 2022-11-30 0318185 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 0318185 d:OfficeEquipment 2022-12-01 2023-11-30 0318185 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 0318185 d:CurrentFinancialInstruments 2023-11-30 0318185 d:CurrentFinancialInstruments 2022-11-30 0318185 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 0318185 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 0318185 d:ShareCapital 2023-11-30 0318185 d:ShareCapital 2022-11-30 0318185 d:RetainedEarningsAccumulatedLosses 2023-11-30 0318185 d:RetainedEarningsAccumulatedLosses 2022-11-30 0318185 d:TaxLossesCarry-forwardsDeferredTax 2023-11-30 0318185 d:TaxLossesCarry-forwardsDeferredTax 2022-11-30 0318185 c:FRS102 2022-12-01 2023-11-30 0318185 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 0318185 c:FullAccounts 2022-12-01 2023-11-30 0318185 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 0318185 6 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure
Company registration number: 0318185







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2023


AUTO INVESTMENT TRUST LIMITED






































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AUTO INVESTMENT TRUST LIMITED
 


 
COMPANY INFORMATION


Directors
Mr P J Comerford 
Ms J A Comerford 




Company secretary
J A Comerford



Registered number
0318185



Registered office
Lynton House
7-12 Tavistock Square

London

WC1H 9LT




Accountants
Menzies LLP
Chartered Accountants

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


AUTO INVESTMENT TRUST LIMITED
REGISTERED NUMBER:0318185



STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
625,984
651,312

Investments
 5 
749,112
872,889

  
1,375,096
1,524,201

Current assets
  

Debtors: amounts falling due within one year
 6 
1,240,178
1,000,142

Cash at bank and in hand
  
375,420
567,264

  
1,615,598
1,567,406

Creditors: amounts falling due within one year
 7 
(821,582)
(819,209)

Net current assets
  
 
 
794,016
 
 
748,197

Total assets less current liabilities
  
2,169,112
2,272,398

Provisions for liabilities
  

Deferred tax
 8 
(147,903)
(161,736)

  
 
 
(147,903)
 
 
(161,736)

Net assets
  
2,021,209
2,110,662


Capital and reserves
  

Called up share capital 
  
20,000
20,000

Profit and loss account
  
2,001,209
2,090,662

  
2,021,209
2,110,662


Page 1

 


AUTO INVESTMENT TRUST LIMITED
REGISTERED NUMBER:0318185


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr P J Comerford
Director

Date: 20 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


AUTO INVESTMENT TRUST LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Auto Investment Trust  Limited is a private company limited by guarantee, incorporated in England and Wales, registration number 0318185. The registered office is stated on the company information page.
The principal place of business is 12 Angmering Lane, Willowhayne Estate, East Preston, Littlehampton, West Sussex, BN16 2TA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 


AUTO INVESTMENT TRUST LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office  fixtures & fittings and equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors in consultation with external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 4

 


AUTO INVESTMENT TRUST LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Leasehold investment property
Office machinery
Total

£
£
£



Cost or valuation


At 1 December 2022
650,000
58,959
708,959


Revaluations
(25,000)
-
(25,000)



At 30 November 2023

625,000
58,959
683,959



Depreciation


At 1 December 2022
-
57,647
57,647


Charge for the year on owned assets
-
328
328



At 30 November 2023

-
57,975
57,975



Net book value



At 30 November 2023
625,000
984
625,984



At 30 November 2022
650,000
1,312
651,312




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Long leasehold
625,000
650,000

625,000
650,000


The company’s long leasehold investment property was valued on an open market basis by the directors at £625,000 (2022- £650,000).

Page 5

 


AUTO INVESTMENT TRUST LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 December 2022
860,274
12,615
872,889


Additions
2,683
-
2,683


Disposals
(116,644)
-
(116,644)


Revaluations
(9,816)
-
(9,816)



At 30 November 2023
736,497
12,615
749,112





6.


Debtors

2023
2022
£
£


Other debtors
957,112
760,444

Tax recoverable
283,066
239,698

1,240,178
1,000,142



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
770,891
773,421

Corporation tax
43,368
35,065

Accruals and deferred income
7,323
10,723

821,582
819,209


Page 6

 


AUTO INVESTMENT TRUST LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Deferred taxation




2023


£






At beginning of year
(161,736)


Charged to profit or loss
13,833



At end of year
(147,903)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Deferred tax on listed investments
(147,903)
(161,736)

(147,903)
(161,736)


9.


Related party transactions

At the year end the company owed £770,891 (2022: £773,421) to Comerfords Limited, its parent undertaking.
At the year end Mr P J Comerford, the director, owed £862,035 (2022: £733,537) to the company. Interest is payable at 2.5% and the loan is repayable on demand.

 
Page 7