BETTS MOTOR SERVICES LIMITED

Company Registration Number:
05536867 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 01 December 2022

End date: 30 November 2023

BETTS MOTOR SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2023

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

BETTS MOTOR SERVICES LIMITED

Company Information

for the Period Ended 30 November 2023




Director: R Betts
Secretary: L Betts
Registered office: Unit 5
Washington Street
Netherton
West Midlands
DY2 9PH
Company Registration Number: 05536867 (England and Wales)

BETTS MOTOR SERVICES LIMITED

Balance sheet

As at 30 November 2023


Notes

2023
£

2022
£
Fixed assets
Intangible assets: 4 2,750 4,125
Tangible assets: 5 28,988 29,907
Total fixed assets: 31,738 34,032
Current assets
Stocks: 3,836 3,255
Debtors: 6 31,960 30,696
Cash at bank and in hand: 47,093 44,222
Total current assets: 82,889 78,173
Creditors: amounts falling due within one year: 7 ( 63,269 ) ( 72,537 )
Net current assets (liabilities): 19,620 5,636
Total assets less current liabilities: 51,358 39,668
Creditors: amounts falling due after more than one year: 8 ( 14,715 ) ( 24,514 )
Total net assets (liabilities): 36,643 15,154

The notes form part of these financial statements

BETTS MOTOR SERVICES LIMITED

Balance sheet continued

As at 30 November 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 36,543 15,054
Shareholders funds: 36,643 15,154

For the year ending 30 November 2023 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 22 August 2024
And Signed On Behalf Of The Board By:

Name: R Betts
Status: Director

The notes form part of these financial statements

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

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

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

    Motor Vehicles - 25% on reducing balance
    Plant & Machinery - 25% on reducing balance
    Computer Equipment - 33% on a straight line basis
    Fixtures & Fittings - 15% on reducing balance

    Intangible fixed assets amortisation policy

    Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

    Goodwill - 5% straight line basis

    Valuation information and policy

    Fixed assets
    All fixed assets are initially recorded at cost.

    Other accounting policies

    Stocks Inventories 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 Income Statement, 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 statement of financial position date. Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. 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.

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 5 5

    There was one director during the year and 4 employees for both financial years.

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 3. Off balance sheet disclosure

    No

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Intangible assets

Goodwill Total
Cost £ £
At 01 December 2022 27,500 27,500
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 30 November 2023 27,500 27,500
Amortisation
Amortisation at 01 December 2022 23,375 23,375
Charge for year 1,375 1,375
On disposals - -
Other adjustments - -
Amortisation at 30 November 2023 24,750 24,750
Net book value
Net book value at 30 November 2023 2,750 2,750
Net book value at 30 November 2022 4,125 4,125

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Tangible assets

Plant & machinery Fixtures & fittings Motor vehicles Total
Cost £ £ £ £
At 01 December 2022 53,211 37,206 57,093 147,510
Additions 8,695 - - 8,695
Disposals - - - -
Revaluations - - - -
Transfers - - - -
At 30 November 2023 61,906 37,206 57,093 156,205
Depreciation
At 01 December 2022 44,641 36,852 36,110 117,603
Charge for year 4,318 49 5,247 9,614
On disposals - - - -
Other adjustments - - - -
At 30 November 2023 48,959 36,901 41,357 127,217
Net book value
At 30 November 2023 12,947 305 15,736 28,988
At 30 November 2022 8,570 354 20,983 29,907

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

6. Debtors


2023
£

2022
£
Trade debtors 24,375 24,290
Prepayments and accrued income 7,585 6,406
Total 31,960 30,696

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

7.Creditors: amounts falling due within one year note


2023
£

2022
£
Bank loans and overdrafts 9,800 9,800
Amounts due under finance leases and hire purchase contracts 1,137
Trade creditors 20,328 37,289
Taxation and social security 25,336 21,410
Accruals and deferred income 6,325 2,712
Other creditors 1,480 189
Total 63,269 72,537

Hire Purchase disclosed under creditors falling due within one year are secured by a legal charge on certain assets of the company.

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

8.Creditors: amounts falling due after more than one year


2023
£

2022
£
Bank loans and overdrafts 14,715 24,514
Total 14,715 24,514