Company Registration No. 03878796 (England and Wales)
Peter Johnson Motor Body Repairs Limited
Unaudited accounts
for the year ended 31 December 2023
Peter Johnson Motor Body Repairs Limited
Unaudited accounts
Contents
Peter Johnson Motor Body Repairs Limited
Company Information
for the year ended 31 December 2023
Directors
Ricky Mote
Jordan Wood
Company Number
03878796 (England and Wales)
Registered Office
Unit 3d Beeching Road
Bexhill-On-Sea
TN39 3LG
England
Peter Johnson Motor Body Repairs Limited
Statement of financial position
as at 31 December 2023
Tangible assets
65,927
72,521
Cash at bank and in hand
152,293
102,313
Creditors: amounts falling due within one year
(112,845)
(95,862)
Net current assets
98,390
72,609
Total assets less current liabilities
164,317
145,130
Creditors: amounts falling due after more than one year
(19,743)
(39,969)
Provisions for liabilities
Deferred tax
(9,046)
(10,716)
Called up share capital
200
200
Profit and loss account
135,328
94,245
Shareholders' funds
135,528
94,445
For the year ending 31 December 2023 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2024 and were signed on its behalf by
Jordan Wood
Director
Company Registration No. 03878796
Peter Johnson Motor Body Repairs Limited
Notes to the Accounts
for the year ended 31 December 2023
Peter Johnson Motor Body Repairs Limited is a private company, limited by shares, registered in England and Wales, registration number 03878796. The registered office is Unit 3d Beeching Road, Bexhill-On-Sea, TN39 3LG, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Peter Johnson Motor Body Repairs Limited
Notes to the Accounts
for the year ended 31 December 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
67,118
118,331
4,769
5,408
195,626
Additions
2,899
12,422
-
-
15,321
At 31 December 2023
70,017
130,753
4,769
5,408
210,947
At 1 January 2023
61,393
52,644
4,018
5,050
123,105
Charge for the year
2,156
19,527
113
119
21,915
At 31 December 2023
63,549
72,171
4,131
5,169
145,020
At 31 December 2023
6,468
58,582
638
239
65,927
At 31 December 2022
5,725
65,687
751
358
72,521
Peter Johnson Motor Body Repairs Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
47,890
56,395
Accrued income and prepayments
7,452
6,463
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
11,257
9,890
Obligations under finance leases and hire purchase contracts
7,838
7,838
Trade creditors
3,478
3,620
Taxes and social security
55,642
29,917
Other creditors
1,377
1,370
Loans from directors
664
40
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
7,185
15,023
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Average number of employees
During the year the average number of employees was 13 (2022: 13).