Registered number
07759188
Riverway MOT Centre Limited
Accounts
For the Year ended
31 May 2024
Oakensen
Chartered Accountants
Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
Riverway MOT Centre Limited
Registered number: 07759188
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 9,499 10,049
9,500 10,050
Current assets
Stocks 1,847 1,752
Debtors 5 44,023 47,513
Cash at bank and in hand 39,920 48,944
85,790 98,209
Creditors: amounts falling due within one year 6 (2,788) (8,986)
Net current assets 83,002 89,223
Total assets less current liabilities 92,502 99,273
Creditors: amounts falling due after more than one year 7 (6,880) (5,882)
Net assets 85,622 93,391
Capital and reserves
Called up share capital 2 2
Profit and loss account 85,620 93,389
Shareholder's funds 85,622 93,391
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
P N Marks
Director
Approved by the board on 9 September 2024
Riverway MOT Centre Limited
Notes to the Accounts
for the year ended 31 May 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 is recognised when the service is complete.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, 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 7 years
Motor vehicles 5 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.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
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 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 20,000
At 31 May 2024 20,000
Amortisation
At 1 June 2023 19,999
At 31 May 2024 19,999
Net book value
At 31 May 2024 1
At 31 May 2023 1
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 June 2023 25,780 12,250 38,030
Additions 1,158 1,700 2,858
At 31 May 2024 26,938 13,950 40,888
Depreciation
At 1 June 2023 19,265 8,716 27,981
Charge for the year 1,618 1,790 3,408
At 31 May 2024 20,883 10,506 31,389
Net book value
At 31 May 2024 6,055 3,444 9,499
At 31 May 2023 6,515 3,534 10,049
5 Debtors 2024 2023
£ £
Trade debtors 16,169 22,659
Other debtors 27,854 24,854
44,023 47,513
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,554 7,873
Other creditors 1,234 1,113
2,788 8,986
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 6,880 5,882
8 Related party transactions
The company owed the directors £4,880 (2023 - £5,882) at the year end.
9 Other information
Riverway MOT Centre Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1
Riverway Trading Estate
Trowbridge
Wiltshire
BA14 8LL
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