13 30/04/2024 2024-04-30 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-05-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 1118638 2023-05-01 2024-04-30 1118638 2024-04-30 1118638 2023-04-30 1118638 2022-05-01 2023-04-30 1118638 2023-04-30 1118638 2022-04-30 1118638 core:PlantMachinery 2023-05-01 2024-04-30 1118638 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 1118638 core:MotorVehicles 2023-05-01 2024-04-30 1118638 bus:Director1 2023-05-01 2024-04-30 1118638 core:WithinOneYear 2024-04-30 1118638 core:WithinOneYear 2023-04-30 1118638 core:ShareCapital 2024-04-30 1118638 core:ShareCapital 2023-04-30 1118638 core:RetainedEarningsAccumulatedLosses 2024-04-30 1118638 core:RetainedEarningsAccumulatedLosses 2023-04-30 1118638 bus:Director1 2023-04-30 1118638 bus:Director1 2024-04-30 1118638 bus:Director1 2022-04-30 1118638 bus:Director1 2023-04-30 1118638 bus:Director1 2022-05-01 2023-04-30 1118638 bus:SmallEntities 2023-05-01 2024-04-30 1118638 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 1118638 bus:AbridgedAccounts 2023-05-01 2024-04-30 1118638 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 1118638 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 1118638 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30
Company registration number: 1118638
Autowash Engineering Limited
Unaudited filleted abridged financial statements
for the Year ended
30 April 2024
Autowash Engineering Limited
Contents
Abridged balance sheet
Notes to the financial statements
Autowash Engineering Limited
Abridged Balance Sheet
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 50,898 27,084
___________ ___________
50,898 27,084
Current assets
Stocks 183,000 157,000
Debtors 237,610 462,082
Cash at bank and in hand 622,742 353,614
___________ ___________
1,043,352 972,696
Creditors: amounts falling due
within one year ( 246,839) ( 190,505)
___________ ___________
Net current assets 796,513 782,191
___________ ___________
Total assets less current liabilities 847,411 809,275
Provisions for liabilities ( 10,000) ( 3,400)
Accruals and deferred income ( 4,803) ( 4,441)
___________ ___________
Net assets 832,608 801,434
___________ ___________
Capital and reserves
Called up share capital 100 100
Profit and loss account 832,508 801,334
___________ ___________
Shareholders funds 832,608 801,434
___________ ___________
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.
All of the members have consented to the preparation of the abridged Balance Sheet for the current year ending 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 05 August 2024 , and are signed on behalf of the board by:
Mr H C Davies
Director
Company registration number: 1118638
Autowash Engineering Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 6, Sterling Park, Jacknell Road, Hinckley, Leicestershire, LE10 3BS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold properties - straight line over the life of the lease
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance Sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 13 ).
5. Tangible assets
£
Cost
At 1 May 2023 88,837
Additions 37,036
___________
At 30 April 2024 125,873
___________
Depreciation
At 1 May 2023 61,753
Charge for the year 13,222
___________
At 30 April 2024 74,975
___________
Carrying amount
At 30 April 2024 50,898
___________
At 30 April 2023 27,084
___________
6. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
53,712 152,168 ( 218,396) ( 12,516)
___________ ___________ ___________ ___________
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
129,063 95,418 ( 170,769) 53,712
___________ ___________ ___________ ___________
The above transactions were interest free, had no fixed repayment date and were unsecured.