Autotec Accident Repair Centre Ltd 15075362 false 2023-08-16 2024-01-31 2024-01-31 The principal activity of the company is the repair of motor vehicles. Digita Accounts Production Advanced 6.30.9574.0 true true 15075362 2023-08-16 2024-01-31 15075362 2024-01-31 15075362 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-01-31 15075362 core:CurrentFinancialInstruments 2024-01-31 15075362 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 15075362 core:ParentEntities 2024-01-31 15075362 bus:SmallEntities 2023-08-16 2024-01-31 15075362 bus:AuditExemptWithAccountantsReport 2023-08-16 2024-01-31 15075362 bus:FilletedAccounts 2023-08-16 2024-01-31 15075362 bus:SmallCompaniesRegimeForAccounts 2023-08-16 2024-01-31 15075362 bus:RegisteredOffice 2023-08-16 2024-01-31 15075362 bus:Director1 2023-08-16 2024-01-31 15075362 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-08-16 2024-01-31 15075362 bus:PrivateLimitedCompanyLtd 2023-08-16 2024-01-31 15075362 core:FurnitureFittingsToolsEquipment 2023-08-16 2024-01-31 15075362 core:PlantMachinery 2023-08-16 2024-01-31 15075362 core:ParentEntities 2023-08-16 2024-01-31 15075362 core:ParentEntities core:SaleOrPurchaseGoods 2023-08-16 2024-01-31 15075362 countries:England 2023-08-16 2024-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 15075362

Autotec Accident Repair Centre Ltd

Unaudited Filleted Abridged Financial Statements

for the Period from 16 August 2023 to 31 January 2024

 

Autotec Accident Repair Centre Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Autotec Accident Repair Centre Ltd

(Registration number: 15075362)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

92,448

Current assets

 

Stocks

39,500

Debtors

257,035

Cash at bank and in hand

 

45,103

 

341,638

Prepayments and accrued income

 

16,613

Creditors: Amounts falling due within one year

(448,798)

Net current liabilities

 

(90,547)

Total assets less current liabilities

 

1,901

Provisions for liabilities

(152)

Accruals and deferred income

 

(1,200)

Net assets

 

549

Capital and reserves

 

Called up share capital

5

100

Retained earnings

449

Shareholders' funds

 

549

 

Autotec Accident Repair Centre Ltd

(Registration number: 15075362)
Abridged Balance Sheet as at 31 January 2024

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 October 2024 and signed on its behalf by:
 

.........................................
Mr J P Cubitt
Director

 

Autotec Accident Repair Centre Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 16 August 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Brewery Street
Off Dalton Lane
Keighley
West Yorkshire
BD21 4JQ

The principal place of business is:
Unit 5 Aireworth Mills
Aireworth Road
Keighley
West Yorkshire
BD21 4DH

These financial statements were authorised for issue by the Board on 14 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Autotec Accident Repair Centre Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 16 August 2023 to 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% per annum reducing balance

Office equipment

25% per annum reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Autotec Accident Repair Centre Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 16 August 2023 to 31 January 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 12.

 

Autotec Accident Repair Centre Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 16 August 2023 to 31 January 2024

4

Tangible assets

Total
£

Cost

Additions

98,597

At 31 January 2024

98,597

Depreciation

Charge for the period

6,149

At 31 January 2024

6,149

Net book value

At 31 January 2024

92,448

5

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

100

100

   

6

Related party transactions

Summary of transactions with parent

Autotec & David Peel Auto Electricians Ltd
 

Expenditure with and payables to related parties

2024

Parent
£

Purchase of goods

248,690

Amounts payable to related party

289,567

Loans from related parties

2024

Parent
£

Total
£

Advanced

100,000

100,000

At end of period

100,000

100,000