IRIS Accounts Production v24.2.0.383 04608067 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh046080672023-01-31046080672024-01-31046080672023-02-012024-01-31046080672022-01-31046080672022-02-012023-01-31046080672023-01-3104608067ns15:EnglandWales2023-02-012024-01-3104608067ns14:PoundSterling2023-02-012024-01-3104608067ns10:Director12023-02-012024-01-3104608067ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3104608067ns10:SmallEntities2023-02-012024-01-3104608067ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3104608067ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3104608067ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3104608067ns10:AbridgedAccounts2023-02-012024-01-310460806712023-02-012024-01-3104608067ns10:Director22023-02-012024-01-3104608067ns10:CompanySecretary12023-02-012024-01-3104608067ns10:RegisteredOffice2023-02-012024-01-3104608067ns5:CurrentFinancialInstruments2024-01-3104608067ns5:CurrentFinancialInstruments2023-01-3104608067ns5:Non-currentFinancialInstruments2024-01-3104608067ns5:Non-currentFinancialInstruments2023-01-3104608067ns5:ShareCapital2024-01-3104608067ns5:ShareCapital2023-01-3104608067ns5:RetainedEarningsAccumulatedLosses2024-01-3104608067ns5:RetainedEarningsAccumulatedLosses2023-01-3104608067ns5:NetGoodwill2023-02-012024-01-3104608067ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3104608067ns5:LeaseholdImprovements2023-02-012024-01-3104608067ns5:PlantMachinery2023-02-012024-01-3104608067ns5:FurnitureFittings2023-02-012024-01-3104608067ns5:MotorVehicles2023-02-012024-01-3104608067ns5:ComputerEquipment2023-02-012024-01-3104608067ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3104608067ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3104608067ns5:WithinOneYear2024-01-3104608067ns5:WithinOneYear2023-01-3104608067ns5:BetweenOneFiveYears2024-01-3104608067ns5:BetweenOneFiveYears2023-01-3104608067ns5:MoreThanFiveYears2024-01-3104608067ns5:MoreThanFiveYears2023-01-3104608067ns5:AllPeriods2024-01-3104608067ns5:AllPeriods2023-01-3104608067ns5:Secured2024-01-3104608067ns5:Secured2023-01-31046080671ns10:Director12023-01-31046080671ns10:Director12022-01-31046080671ns10:Director12023-02-012024-01-31046080671ns10:Director12022-02-012023-01-31046080671ns10:Director12024-01-31046080671ns10:Director12023-01-31
REGISTERED NUMBER: 04608067 (England and Wales)












ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

BRM AUTOS LIMITED

BRM AUTOS LIMITED (REGISTERED NUMBER: 04608067)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BRM AUTOS LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: Mr B McManus
Ms T J McManus





SECRETARY: Mr B McManus





REGISTERED OFFICE: Seven Stars Estate
1 Wheler Road
Coventry
CV3 4LB





REGISTERED NUMBER: 04608067 (England and Wales)






BRM AUTOS LIMITED (REGISTERED NUMBER: 04608067)

ABRIDGED BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 306,976 287,034
306,976 287,034

CURRENT ASSETS
Stocks 8,000 8,000
Debtors 113,528 70,582
Cash at bank and in hand 41,299 65,039
162,827 143,621
CREDITORS
Amounts falling due within one year 111,330 103,482
NET CURRENT ASSETS 51,497 40,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

358,473

327,173

CREDITORS
Amounts falling due after more than one
year

(34,660

)

(52,448

)

PROVISIONS FOR LIABILITIES (13,234 ) (8,692 )
NET ASSETS 310,579 266,033

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 310,569 266,023
SHAREHOLDERS' FUNDS 310,579 266,033

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

BRM AUTOS LIMITED (REGISTERED NUMBER: 04608067)

ABRIDGED BALANCE SHEET - continued
31 January 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 October 2024 and were signed on its behalf by:





Mr B McManus - Director


BRM AUTOS LIMITED (REGISTERED NUMBER: 04608067)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

BRM Autos 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.

The company's place of business is situated at Ace Garage, Lawrence Saunders Road, Radford, Coventry, CV6 1HE.

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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting polices adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

As the directors have agreed to support the company in meeting its day to day liabilities and due to a good relationship with the bank, the directors believe that the going concern basis of accounts preparation is appropriate.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of three 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to properties - 10% on cost
Plant and machinery - 25% on reducing balance
Furniture and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost and 25% on reducing balance

It is company policy to maintain its freehold property to a high standard with the cost of repairs and maintenance being charged to the profit and loss account. No depreciation is therefore charged on freehold property as in the opinion of the director, any amounts involved would be insignificant. The consumption of these assets over their useful economic lives is considered to be negligible and the directors believe that a depreciation rate of 0% is therefore appropriate.

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

BRM AUTOS LIMITED (REGISTERED NUMBER: 04608067)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 10 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 125,000
AMORTISATION
At 1 February 2023
and 31 January 2024 125,000
NET BOOK VALUE

At 31 January 2024 -
At 31 January 2023 -

BRM AUTOS LIMITED (REGISTERED NUMBER: 04608067)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 477,265
Additions 47,826
Disposals (8,217 )
At 31 January 2024 516,874
DEPRECIATION
At 1 February 2023 190,231
Charge for year 23,490
Eliminated on disposal (3,823 )
At 31 January 2024 209,898
NET BOOK VALUE
At 31 January 2024 306,976
At 31 January 2023 287,034

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 February 2023
and 31 January 2024 2,400
DEPRECIATION
At 1 February 2023
and 31 January 2024 825
NET BOOK VALUE
At 31 January 2024 1,575
At 31 January 2023 1,575

6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 245

BRM AUTOS LIMITED (REGISTERED NUMBER: 04608067)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

6. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 14,400 14,400
Between one and five years 57,600 57,600
In more than five years 27,600 42,000
99,600 114,000

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 52,360 75,084
Hire purchase contracts - 245
52,360 75,329

The bank borrowings are secured by a 1st legal charge over 146a Kensington Road and its associated assets.

The director, B McManus is party to a personal guarantee on the bank overdraft to the value of £25,000 and the bank loan to the value of £50,000.

Hire purchase contracts and finance leases are secured against the assets to which they have financed.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr B McManus
Balance outstanding at start of year 45,061 61,709
Amounts advanced 221,426 135,133
Amounts repaid (171,490 ) (151,781 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 94,997 45,061

9. PENSION COMMITMENTS

At the year end there were unpaid employer pension contributions of £337 (2023 - £292)