Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08534202 Mr Nigel McKenzie Asset Finance UK Holdings Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08534202 2023-03-31 08534202 2024-03-31 08534202 2023-04-01 2024-03-31 08534202 frs-core:CurrentFinancialInstruments 2024-03-31 08534202 frs-core:Non-currentFinancialInstruments 2024-03-31 08534202 frs-core:ShareCapital 2024-03-31 08534202 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08534202 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08534202 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08534202 frs-bus:SmallEntities 2023-04-01 2024-03-31 08534202 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08534202 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08534202 1 2023-04-01 2024-03-31 08534202 frs-bus:Director1 2023-04-01 2024-03-31 08534202 frs-countries:EnglandWales 2023-04-01 2024-03-31 08534202 2022-03-31 08534202 2023-03-31 08534202 2022-04-01 2023-03-31 08534202 frs-core:CurrentFinancialInstruments 2023-03-31 08534202 frs-core:Non-currentFinancialInstruments 2023-03-31 08534202 frs-core:ShareCapital 2023-03-31 08534202 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08534202
Autoflex Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 08534202
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 3,231,788 2,877,878
Cash at bank and in hand 88,812 26,813
3,320,600 2,904,691
Creditors: Amounts Falling Due Within One Year 5 (1,298,186 ) (1,165,209 )
NET CURRENT ASSETS (LIABILITIES) 2,022,414 1,739,482
TOTAL ASSETS LESS CURRENT LIABILITIES 2,022,414 1,739,482
Creditors: Amounts Falling Due After More Than One Year 6 (1,013,640 ) (821,557 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (576,550 ) (529,713 )
NET ASSETS 432,224 388,212
CAPITAL AND RESERVES
Called up share capital 7 3 3
Income Statement 432,221 388,209
SHAREHOLDERS' FUNDS 432,224 388,212
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Nigel McKenzie
Director
25 October 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Autoflex Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08534202 . The registered office is 427A Otley Road, Leeds, LS6 6AJ.

2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern assumption is appropriate, the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,811 7,538
Amounts owed by group undertakings 144,108 257,966
Amounts owed by participating interests - 72,000
Other debtors 1,366,507 1,205,615
1,520,426 1,543,119
Due after more than one year
Other debtors 1,711,362 1,334,759
1,711,362 1,334,759
3,231,788 2,877,878
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,483 32,020
Amounts owed to group undertakings 45,100 -
Other creditors 1,114,117 1,048,768
Taxation and social security 129,486 84,421
1,298,186 1,165,209
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 1,013,640 821,557
1,013,640 821,557
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
8. Exceptional Items
The exceptional items relate to irrecoverable group company balances in the amount of £1,771 due to Asset Finance UK Limited and £72,000 due from MM Properties (Leeds) Ltd
9. Ultimate Controlling Party
The company's ultimate controlling party is Asset Finance UK Holdings Ltd by virtue of his ownership of 100% of the issued share capital in the company.
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