Registered number
07343401
Mayday Motors (Roehampton) Limited
Filleted Accounts
31 March 2024
Mayday Motors (Roehampton) Limited
Registered number: 07343401
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,255 5,170
Current assets
Stocks 10,360 20,000
Cash at bank and in hand 126,868 91,203
137,228 111,203
Creditors: amounts falling due within one year 4 (16,370) (16,972)
Net current assets 120,858 94,231
Net assets 126,113 99,401
Capital and reserves
Called up share capital 210 210
Profit and loss account 125,903 99,191
Shareholders' funds 126,113 99,401
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
A Miles
Director
Approved by the board on 22 October 2024
Mayday Motors (Roehampton) Limited
Notes to the Accounts
for the year ended 31 March 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 includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, 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 25% on reducing balance
Fixtures, fittings, tools and equipment 10% on cost
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 79,074
Additions 1,837
At 31 March 2024 80,911
Depreciation
At 1 April 2023 73,904
Charge for the year 1,752
At 31 March 2024 75,656
Net book value
At 31 March 2024 5,255
At 31 March 2023 5,170
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 11,143 8,719
Accrued expenses 686 501
Other creditors 4,541 7,752
16,370 16,972
5 Other information
Mayday Motors (Roehampton) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
HA7 1JS
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