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Registered number: 07603554
Automaniac Service Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Rothenburg Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07603554
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,531,583 1,807,427
2,531,583 1,807,427
CURRENT ASSETS
Stocks 5 4,916,586 3,485,825
Debtors 6 366,545 379,096
Cash at bank and in hand 169,734 328,093
5,452,865 4,193,014
Creditors: Amounts Falling Due Within One Year 7 (5,695,611 ) (4,378,440 )
NET CURRENT ASSETS (LIABILITIES) (242,746 ) (185,426 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,288,837 1,622,001
Creditors: Amounts Falling Due After More Than One Year 8 (1,001,553 ) (627,223 )
NET ASSETS 1,287,284 994,778
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 1,287,184 994,678
SHAREHOLDERS' FUNDS 1,287,284 994,778
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matt White
Director
19/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Automaniac Service Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07603554 . The registered office is 1 Ams Industrial Estate, Sandall Road, Wisbech, PE13 2GB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% SL
Plant & Machinery 15% RB
Motor Vehicles 20% RB
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 2)
5 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 April 2023 1,574,007 422,626 247,032 2,243,665
Additions 305,219 310,883 269,163 885,265
As at 31 March 2024 1,879,226 733,509 516,195 3,128,930
Depreciation
As at 1 April 2023 142,154 190,107 103,977 436,238
Provided during the period 53,461 59,454 48,194 161,109
As at 31 March 2024 195,615 249,561 152,171 597,347
Net Book Value
As at 31 March 2024 1,683,611 483,948 364,024 2,531,583
As at 1 April 2023 1,431,853 232,519 143,055 1,807,427
5. Stocks
2024 2023
£ £
Stock 4,916,586 3,485,825
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 187,958 63,413
Other debtors 178,587 315,683
366,545 379,096
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 164,990 61,671
Trade creditors 5,132,690 4,072,853
Bank loans and overdrafts 206,506 74,705
Other creditors 177,493 113,481
Taxation and social security 13,932 55,730
5,695,611 4,378,440
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 369,218 115,130
Bank loans 629,835 509,593
Other creditors 2,500 2,500
1,001,553 627,223
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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