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REGISTERED NUMBER: 05140360 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Auto Electric Supplies Limited

Auto Electric Supplies Limited (Registered number: 05140360)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Auto Electric Supplies Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs R Blake
M Blake





SECRETARY: Mrs R Blake





REGISTERED OFFICE: Unit 2 Bright Court
Tenbury Wells Business Park
Bromyard Road
Tenbury Wells
Worcestershire
WR15 8FG





REGISTERED NUMBER: 05140360 (England and Wales)





ACCOUNTANTS: dhjh Tenbury Wells LLP
Chartered Certified Accountants
81 Teme Street
Tenbury Wells
WR15 8AE

Auto Electric Supplies Limited (Registered number: 05140360)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 37,604 40,013
37,604 40,013

CURRENT ASSETS
Inventories 288,901 231,302
Debtors 6 28,617 34,789
Cash at bank and in hand 135,011 258,352
452,529 524,443
CREDITORS
Amounts falling due within one year 7 162,451 204,322
NET CURRENT ASSETS 290,078 320,121
TOTAL ASSETS LESS CURRENT
LIABILITIES

327,682

360,134

PROVISIONS FOR LIABILITIES 3,138 -
NET ASSETS 324,544 360,134

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 324,344 359,934
SHAREHOLDERS' FUNDS 324,544 360,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:



M Blake - Director



Mrs R Blake - Director


Auto Electric Supplies Limited (Registered number: 05140360)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Auto Electric Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of seven years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 12 ) .

Auto Electric Supplies Limited (Registered number: 05140360)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 8,295
AMORTISATION
At 1 April 2023
and 31 March 2024 8,295
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Leasehold Plant and and Office
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 25,024 16,495 14,435 60,099 116,053
Additions - 1,250 - - 1,250
At 31 March 2024 25,024 17,745 14,435 60,099 117,303
DEPRECIATION
At 1 April 2023 - 13,712 10,435 51,893 76,040
Charge for year - 807 800 2,052 3,659
At 31 March 2024 - 14,519 11,235 53,945 79,699
NET BOOK VALUE
At 31 March 2024 25,024 3,226 3,200 6,154 37,604
At 31 March 2023 25,024 2,783 4,000 8,206 40,013

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,969 17,651
Cash in transit - 8,998
Prepayments 10,648 8,140
28,617 34,789

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 67,667 97,265
Other Creditors 29,533 19,032
Tax 40,741 44,776
Pension contributions owed 580 553
VAT 10,788 11,667
Directors' current accounts 10,776 29,056
Accrued expenses 2,366 1,973
162,451 204,322