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REGISTERED NUMBER: 06726192 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

C & M Auto Services Ltd

C & M Auto Services Ltd (Registered number: 06726192)






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


C & M Auto Services Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M N Meredith
C J Meredith





REGISTERED OFFICE: 10 Rose Avenue
York Business Park
Nether Poppleton
York
North Yorkshire
YO26 6RU





REGISTERED NUMBER: 06726192 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Oak Tree House, Harwood Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU

C & M Auto Services Ltd (Registered number: 06726192)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 61,475 72,012
61,475 72,012

CURRENT ASSETS
Stocks 6 11,084 4,075
Debtors 7 70,049 37,639
Cash at bank and in hand 74,086 99,655
155,219 141,369
CREDITORS
Amounts falling due within one year 8 99,485 105,082
NET CURRENT ASSETS 55,734 36,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,209

108,299

CREDITORS
Amounts falling due after more than one
year

9

(20,336

)

(39,884

)

PROVISIONS FOR LIABILITIES 12 - (1,105 )
NET ASSETS 96,873 67,310

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 96,773 67,210
SHAREHOLDERS' FUNDS 96,873 67,310

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.

C & M Auto Services Ltd (Registered number: 06726192)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





M N Meredith - Director


C & M Auto Services Ltd (Registered number: 06726192)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

C & M Auto Services 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income Recognition
Income is recognised when the conditions contained within a contract for services have been met.

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.

Licence numbers are being amortised evenly over their estimated useful life of five years.

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.
Plant and machinery - 25% on cost
Motor vehicles - 10% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

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

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.


C & M Auto Services Ltd (Registered number: 06726192)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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
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 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Licence
numbers
£   
COST
At 1 April 2023
and 31 March 2024 1,399
AMORTISATION
At 1 April 2023
and 31 March 2024 1,399
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

C & M Auto Services Ltd (Registered number: 06726192)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 92,585 105,075 197,660
Additions 5,208 - 5,208
At 31 March 2024 97,793 105,075 202,868
DEPRECIATION
At 1 April 2023 81,449 44,199 125,648
Charge for year 8,497 7,248 15,745
At 31 March 2024 89,946 51,447 141,393
NET BOOK VALUE
At 31 March 2024 7,847 53,628 61,475
At 31 March 2023 11,136 60,876 72,012

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 67,500
DEPRECIATION
At 1 April 2023 14,627
Charge for year 6,751
At 31 March 2024 21,378
NET BOOK VALUE
At 31 March 2024 46,122
At 31 March 2023 52,873

6. STOCKS
2024 2023
£    £   
Stocks 11,084 4,075

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 34,150 16,845
Other debtors 14,174 14,174
Directors' current accounts 15,103 -
Prepayments and accrued income 6,622 6,620
70,049 37,639

C & M Auto Services Ltd (Registered number: 06726192)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,450 10,700
Hire purchase contracts (see note 10) 9,797 9,797
Trade creditors 17,436 15,578
Taxation and social security 59,037 35,094
Other creditors 815 -
Directors' current accounts - 32,063
Accruals and deferred income 1,950 1,850
99,485 105,082

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,201 10,451
Bank loans - 2-5 years 1,959 11,459
Hire purchase contracts (see note 10) 8,176 17,974
20,336 39,884

The bank loan is repayable over 6 years, with no repayment due for the first year, at an interest rate of 2.5% commencing after 1 year. The loan is due to mature in April 2026.

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 9,797 9,797
Between one and five years 8,176 17,974
17,973 27,771

Non-cancellable operating leases
2024 2023
£    £   
Within one year 15,698 29,419
Between one and five years - 15,698
15,698 45,117

C & M Auto Services Ltd (Registered number: 06726192)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 17,973 27,771

Hire purchase contracts are secured against the assets to which they relate.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 1,105

Deferred
tax
£   
Balance at 1 April 2023 1,105
Provided during year (1,105 )
Balance at 31 March 2024 -

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
67 Ordinary £1 67 67
11 A Ordinary £1 11 11
22 B Ordinary £1 22 22
100 100

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
C J Meredith and M N Meredith
Balance outstanding at start of year (32,063 ) (43,425 )
Amounts advanced 75,413 69,870
Amounts repaid (28,247 ) (58,508 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,103 (32,063 )

The overdrawn loan account was repaid on 10 October 2024.