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Company Registration No. 08487132 (England and Wales)
ABBEYGATE AUTO SERVICES LIMITED Unaudited accounts for the year ended 30 June 2024
ABBEYGATE AUTO SERVICES LIMITED Unaudited accounts Contents
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ABBEYGATE AUTO SERVICES LIMITED Company Information for the year ended 30 June 2024
Directors
L D Summers I R Summers
Company Number
08487132 (England and Wales)
Registered Office
UNIT 27 STATION HILL THURSTON BURY ST. EDMUNDS SUFFOLK IP31 3QU ENGLAND
Accountants
ABBEYGATE ACCOUNTANCY LTD UNIT 27 STATION HILL THURSTON BURY ST. EDMUNDS ENGLAND IP31 3QU
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ABBEYGATE AUTO SERVICES LIMITED Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
101,669 
80,755 
Current assets
Inventories
16,500 
16,500 
Debtors
61,286 
62,231 
Cash at bank and in hand
79,548 
96,164 
157,334 
174,895 
Creditors: amounts falling due within one year
(64,991)
(71,245)
Net current assets
92,343 
103,650 
Total assets less current liabilities
194,012 
184,405 
Creditors: amounts falling due after more than one year
- 
(10,150)
Provisions for liabilities
Deferred tax
(18,736)
(11,026)
Net assets
175,276 
163,229 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
175,176 
163,129 
Shareholders' funds
175,276 
163,229 
For the year ending 30 June 2024 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 16 September 2024 and were signed on its behalf by
L D Summers Director Company Registration No. 08487132
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ABBEYGATE AUTO SERVICES LIMITED Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
ABBEYGATE AUTO SERVICES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08487132. The registered office is UNIT 27 STATION HILL, THURSTON, BURY ST. EDMUNDS, SUFFOLK, IP31 3QU, ENGLAND.
2
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell.
Presentation currency
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% on reducing balance method and 10 years straight line
Motor vehicles
25% on reducing balance method
Computer equipment
25% on reducing balance method
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred taxation
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.
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ABBEYGATE AUTO SERVICES LIMITED Notes to the Accounts for the year ended 30 June 2024
Leased assets
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.
Pension costs
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
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 July 2023
49,859 
84,445 
7,207 
141,511 
Additions
1,740 
55,167 
2,265 
59,172 
Disposals
- 
(29,995)
- 
(29,995)
At 30 June 2024
51,599 
109,617 
9,472 
170,688 
Depreciation
At 1 July 2023
36,730 
21,409 
2,617 
60,756 
Charge for the year
3,464 
9,822 
1,226 
14,512 
On disposals
- 
(6,249)
- 
(6,249)
At 30 June 2024
40,194 
24,982 
3,843 
69,019 
Net book value
At 30 June 2024
11,405 
84,635 
5,629 
101,669 
At 30 June 2023
13,129 
63,036 
4,590 
80,755 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
30,939 
32,405 
Accrued income and prepayments
9,791 
6,395 
Other debtors
20,556 
23,431 
61,286 
62,231 
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ABBEYGATE AUTO SERVICES LIMITED Notes to the Accounts for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
6,613 
7,628 
Obligations under finance leases and hire purchase contracts
- 
3,480 
Trade creditors
41,636 
35,499 
Taxes and social security
12,501 
20,881 
Other creditors
497 
637 
Loans from directors
3,744 
3,120 
64,991 
71,245 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
10,150 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 7 (2023: 6).
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