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REGISTERED NUMBER: 02137006 (England and Wales)
















Financial Statements

for the Year Ended 31 March 2024

for

Auto Bodytech Limited

Auto Bodytech Limited (Registered number: 02137006)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Auto Bodytech Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S G Harwood
Mrs L J Harwood





SECRETARY: Mrs L J Harwood





REGISTERED OFFICE: 701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT





REGISTERED NUMBER: 02137006 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Auto Bodytech Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GCSD Accountants Limited


22 May 2024

Auto Bodytech Limited (Registered number: 02137006)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 130,417 150,157

CURRENT ASSETS
Stocks 51,069 43,204
Debtors 5 171,196 198,098
Cash at bank and in hand 36,049 48,314
258,314 289,616
CREDITORS
Amounts falling due within one year 6 222,396 223,424
NET CURRENT ASSETS 35,918 66,192
TOTAL ASSETS LESS CURRENT
LIABILITIES

166,335

216,349

CREDITORS
Amounts falling due after more than
one year

7

(80,832

)

(111,013

)

PROVISIONS FOR LIABILITIES (10,101 ) (13,022 )
NET ASSETS 75,402 92,314

Auto Bodytech Limited (Registered number: 02137006)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Revaluation reserve 8 23,185 24,842
Retained earnings 47,217 62,472
SHAREHOLDERS' FUNDS 75,402 92,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2024 and were signed on its behalf by:





S G Harwood - Director


Auto Bodytech Limited (Registered number: 02137006)

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


1. STATUTORY INFORMATION

Auto Bodytech Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover 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 is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 2% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 33% on cost and 15% on cost
Motor vehicles - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.


Auto Bodytech Limited (Registered number: 02137006)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

Auto Bodytech Limited (Registered number: 02137006)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 262,500 442,288 704,788
Disposals - (500 ) (500 )
At 31 March 2024 262,500 441,788 704,288
DEPRECIATION
At 1 April 2023 177,025 377,606 554,631
Charge for year 5,250 14,490 19,740
Eliminated on disposal - (500 ) (500 )
At 31 March 2024 182,275 391,596 573,871
NET BOOK VALUE
At 31 March 2024 80,225 50,192 130,417
At 31 March 2023 85,475 64,682 150,157

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 15,410
DEPRECIATION
At 1 April 2023 9,246
Charge for year 2,312
At 31 March 2024 11,558
NET BOOK VALUE
At 31 March 2024 3,852
At 31 March 2023 6,164

Auto Bodytech Limited (Registered number: 02137006)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 127,634 158,440
Other debtors 43,562 39,658
171,196 198,098

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,888 30,379
Hire purchase contracts 1,136 4,322
Trade creditors 134,521 111,277
Taxation and social security 42,404 56,233
Other creditors 13,447 21,213
222,396 223,424

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 80,832 109,877
Hire purchase contracts - 1,136
80,832 111,013

8. RESERVES
Revaluatio
reserve
£   
At 1 April 2023 24,842
Depreciation on revaluation (2,045 )
Deferred tax 388

At 31 March 2024 23,185

Auto Bodytech Limited (Registered number: 02137006)

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


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
S G Harwood
Balance outstanding at start of year 16,100 23,341
Amounts advanced 11,222 12,026
Amounts repaid (12,014 ) (19,267 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,308 16,100

Interest on director's current account has been charged at 2.0% (2023: 2.0%).