2023-04-012024-03-312024-03-31false08956874MIKE PRITCHARD MOTORS 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MIKE PRITCHARD MOTORS LIMITED

Registered Number
08956874
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MIKE PRITCHARD MOTORS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

PRITCHARD, Colin

Registered Address

Unt C, Anchor House School Lane
Chandlers Ford
Eastleigh
SO53 4DY

Registered Number

08956874 (England and Wales)
MIKE PRITCHARD MOTORS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets322,5733,329
22,5733,329
Current assets
Cash at bank and on hand362,711243,642
362,711243,642
Creditors amounts falling due within one year4(210,019)(135,673)
Net current assets (liabilities)152,692107,969
Total assets less current liabilities175,265111,298
Net assets175,265111,298
Capital and reserves
Called up share capital1818
Profit and loss account175,247111,280
Shareholders' funds175,265111,298
The financial statements were approved and authorised for issue by the Director on 24 May 2024, and are signed on its behalf by:
PRITCHARD, Colin
Director
Registered Company No. 08956874
MIKE PRITCHARD MOTORS LIMITED
Notes to the Financial Statements
for the year ended 31 March 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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 machinery15
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 237,3259428,267
Additions20,000-20,000
At 31 March 2427,32594228,267
Depreciation and impairment
At 01 April 234,0668724,938
Charge for year73818756
At 31 March 244,8048905,694
Net book value
At 31 March 2422,5215222,573
At 31 March 233,259703,329
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables24,720684
Amounts owed to related parties149,265113,414
Taxation and social security33,62619,294
Accrued liabilities and deferred income2,4082,281
Total210,019135,673
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.
5.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
PRITCHARD, Colin(113,414)25,07460,925(149,265)
(113,414)25,07460,925(149,265)