Registered number
07535619
Cerney Motor Services Limited
Filleted Accounts
31 March 2024
Cerney Motor Services Limited
Registered number: 07535619
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 5,052 21,109
Current assets
Stocks 10,700 13,200
Debtors 5 10,658 16,958
Cash at bank and in hand 4,395 15,275
25,753 45,433
Creditors: amounts falling due within one year 6 (50,271) (56,267)
Net current liabilities (24,518) (10,834)
Total assets less current liabilities (19,466) 10,275
Creditors: amounts falling due after more than one year 7 (11,130) (20,870)
Net liabilities (30,596) (10,595)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (31,596) (11,595)
Shareholders' funds (30,596) (10,595)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Reason
Director
Approved by the board on 2 September 2024
Cerney Motor Services Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 40,000
At 31 March 2024 40,000
Amortisation
At 1 April 2023 40,000
At 31 March 2024 40,000
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 68,440 44,665 113,105
Additions - 3,500 3,500
Disposals - (300) (300)
At 31 March 2024 68,440 47,865 116,305
Depreciation
At 1 April 2023 58,772 33,224 91,996
Charge for the year 8,391 11,166 19,557
On disposals - (300) (300)
At 31 March 2024 67,163 44,090 111,253
Net book value
At 31 March 2024 1,277 3,775 5,052
At 31 March 2023 9,668 11,441 21,109
5 Debtors 2024 2023
£ £
Trade debtors 4,860 10,794
Other debtors 5,798 6,164
10,658 16,958
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,537 10,860
Trade creditors 24,259 32,365
Other taxes and social security costs 11,241 10,738
Other creditors 4,234 2,304
50,271 56,267
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,130 20,870
8 Other information
Cerney Motor Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Lark Meadow
Ampney St. Peter
Cirencester
Gloucestershire
GL7 5SH
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