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REGISTERED NUMBER: 07143190 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

AUTO A.R.T DEVON LTD

AUTO A.R.T DEVON LTD (REGISTERED NUMBER: 07143190)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AUTO A.R.T DEVON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Miss N K Frost





REGISTERED OFFICE: Unit A, Sterling House
Decoy Industrial Estate
Mead Way
Newton Abbot
Devon
TQ12 5UZ





REGISTERED NUMBER: 07143190 (England and Wales)





ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND

AUTO A.R.T DEVON LTD (REGISTERED NUMBER: 07143190)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 104,289 51,741

CURRENT ASSETS
Stocks 5 224,869 81,890
Debtors 6 486,298 731,658
Cash at bank and in hand 2,984,080 1,620,014
3,695,247 2,433,562
CREDITORS
Amounts falling due within one year 7 700,505 360,772
NET CURRENT ASSETS 2,994,742 2,072,790
TOTAL ASSETS LESS CURRENT LIABILITIES 3,099,031 2,124,531

PROVISIONS FOR LIABILITIES 23,634 -
NET ASSETS 3,075,397 2,124,531

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,075,297 2,124,431
3,075,397 2,124,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 October 2024 and were signed by:



Miss N K Frost - Director


AUTO A.R.T DEVON LTD (REGISTERED NUMBER: 07143190)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Auto A.R.T Devon Ltd 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
Turnover 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 has been fully amortised in the current year.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


AUTO A.R.T DEVON LTD (REGISTERED NUMBER: 07143190)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 13 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023 3,785 84,705 9,883 26,195 124,568
Additions - 4,162 26,744 49,295 80,201
At 29 February 2024 3,785 88,867 36,627 75,490 204,769
DEPRECIATION
At 1 March 2023 - 54,616 9,883 8,328 72,827
Charge for year - 6,851 4,012 16,790 27,653
At 29 February 2024 - 61,467 13,895 25,118 100,480
NET BOOK VALUE
At 29 February 2024 3,785 27,400 22,732 50,372 104,289
At 28 February 2023 3,785 30,089 - 17,867 51,741

5. STOCKS
2024 2023
£    £   
Stocks 174,000 30,345
Work-in-progress 50,869 51,545
224,869 81,890

AUTO A.R.T DEVON LTD (REGISTERED NUMBER: 07143190)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 215,429 245,751
Amounts owed by associates 250,000 250,000
Other debtors - 219,097
Prepayments 20,869 16,810
486,298 731,658

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 210,379 53,979
Tax 328,274 227,132
Social security and other taxes 10,049 8,927
VAT 62,072 65,519
Other creditors 52,002 2,926
Directors' current accounts 33,676 -
Accrued expenses 4,053 2,289
700,505 360,772

8. OTHER FINANCIAL COMMITMENTS

At 29/02/2024, the company had total commitments under non-cancellable operating leases over the remaining life of the those leases of £141,740 (2023 £184,340).

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Miss N K Frost
Balance outstanding at start of year - -
Amounts advanced 16,324 -
Amounts repaid (50,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (33,676 ) -

Loans are unsecured, interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £87,424 were paid to the director .

At the year end the company was owed £250,000 from RC Services (SW) Ltd. This loan is unsecured, interest free and repayable on demand.

During the year Auto A.R.T Devon Ltd was invoiced £189,012 (net) by RC Services (SW) Ltd and at the year end there was £144,000 outstanding included in trade debtors. The transactions were carried out at market value.