2023-02-012024-01-312024-01-31false04365278AUTOTRONIX 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AUTOTRONIX LTD

Registered Number
04365278
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

AUTOTRONIX LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

HAWES, Fitzroy Anthony

Registered Address

206 London Road
Bedford
MK42 0PT

Registered Number

04365278 (England and Wales)
AUTOTRONIX LTD
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3252,281254,549
252,281254,549
Current assets
Stocks498,75089,750
Debtors33,927213,399
Cash at bank and on hand7,36028,093
140,037331,242
Creditors amounts falling due within one year5(121,174)(148,004)
Net current assets (liabilities)18,863183,238
Total assets less current liabilities271,144437,787
Creditors amounts falling due after one year6(209,173)(385,094)
Net assets61,97152,693
Capital and reserves
Called up share capital22
Profit and loss account61,96952,691
Shareholders' funds61,97152,693
The financial statements were approved and authorised for issue by the Director on 29 October 2024, and are signed on its behalf by:
HAWES, Fitzroy Anthony
Director
Registered Company No. 04365278
AUTOTRONIX LTD
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year56
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 February 23253,8007,23742,4267,3361,856312,655
At 31 January 24253,8007,23742,4267,3361,856312,655
Depreciation and impairment
At 01 February 238,8007,14234,6896,4631,01258,106
Charge for year-231,934218932,268
At 31 January 248,8007,16536,6236,6811,10560,374
Net book value
At 31 January 24245,000725,803655751252,281
At 31 January 23245,000957,737873844254,549
4.Stocks

2024

2023

££
Other stocks98,75089,750
Total98,75089,750
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables12,30827,274
Bank borrowings and overdrafts96,59790,229
Taxation and social security10,68327,514
Other creditors-1,400
Accrued liabilities and deferred income1,5861,587
Total121,174148,004
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.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts197,330204,467
Other creditors11,843180,627
Total209,173385,094
7.Obligations under finance leases