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REGISTERED NUMBER: 05812215 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BASINGSTOKE MOT & TYRE LTD

BASINGSTOKE MOT & TYRE LTD (REGISTERED NUMBER: 05812215)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BASINGSTOKE MOT & TYRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Miss S T Digweed
S M Gorman





REGISTERED OFFICE: The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ





REGISTERED NUMBER: 05812215 (England and Wales)





ACCOUNTANTS: RE Group Accountants Limited
The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ

BASINGSTOKE MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40,000 60,000
Tangible assets 5 29,991 39,236
69,991 99,236

CURRENT ASSETS
Stocks 51,141 39,537
Debtors 6 176,576 158,791
Cash at bank and in hand 536,884 407,245
764,601 605,573
CREDITORS
Amounts falling due within one year 7 387,827 358,558
NET CURRENT ASSETS 376,774 247,015
TOTAL ASSETS LESS CURRENT LIABILITIES 446,765 346,251

CREDITORS
Amounts falling due after more than one
year

8

(30,977

)

(35,355

)

PROVISIONS FOR LIABILITIES (6,289 ) (7,395 )
NET ASSETS 409,499 303,501

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 409,399 303,401
SHAREHOLDERS' FUNDS 409,499 303,501

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

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

BASINGSTOKE MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





Miss S T Digweed - Director


BASINGSTOKE MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Basingstoke MOT & Tyre 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 is being amortised over its estimated useful life of 20 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.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance

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

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

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.

BASINGSTOKE MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 11 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 400,000
AMORTISATION
At 1 April 2023 340,000
Charge for year 20,000
At 31 March 2024 360,000
NET BOOK VALUE
At 31 March 2024 40,000
At 31 March 2023 60,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 112,696 274,589 387,285
DEPRECIATION
At 1 April 2023 108,181 239,868 348,049
Charge for year 564 8,681 9,245
At 31 March 2024 108,745 248,549 357,294
NET BOOK VALUE
At 31 March 2024 3,951 26,040 29,991
At 31 March 2023 4,515 34,721 39,236

BASINGSTOKE MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,630 23,031
Other debtors 162,946 135,760
176,576 158,791

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,362 6,210
Trade creditors 80,168 93,885
Taxation and social security 97,211 76,191
Other creditors 205,086 182,272
387,827 358,558

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 30,977 35,355

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,136 10,514

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 28,000 28,000
Between one and five years 42,000 74,667
70,000 102,667

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

BASINGSTOKE MOT & TYRE LTD (REGISTERED NUMBER: 05812215)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
S M Gorman
Balance outstanding at start of year - 20,000
Amounts advanced 27,213 -
Amounts repaid (210 ) (20,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,003 -

Interest has been charged at the standard HMRC rate. The balance is repayable on demand.

12. RELATED PARTY DISCLOSURES

Included in other debtors at the year end are amounts totalling £127,491 (2023 £127,491) owed by entities in which the directors have an interest. These amounts are interest free and repayable on demand.

Included in other creditors at the year end are amounts totalling £177,190 (2023: £177,190) owed to entities in which the directors have an interest. These amounts are interest free and repayable on demand.