ASSINGTON AUTOS LIMITED

Company Registration Number:
10437891 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

ASSINGTON AUTOS LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2023

Balance sheet
Notes

ASSINGTON AUTOS LIMITED

Balance sheet

As at 31 October 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 2,419,369 2,098,986
Total fixed assets: 2,419,369 2,098,986
Current assets
Stocks: 135,000 127,000
Debtors:   219,422 168,779
Cash at bank and in hand: 563,182 529,544
Total current assets: 917,604 825,323
Creditors: amounts falling due within one year:   (482,696) (590,918)
Net current assets (liabilities): 434,908 234,405
Total assets less current liabilities: 2,854,277 2,333,391
Creditors: amounts falling due after more than one year:   (191,275) (162,932)
Total net assets (liabilities): 2,663,002 2,170,459
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 2,663,000 2,170,457
Shareholders funds: 2,663,002 2,170,459

The notes form part of these financial statements

ASSINGTON AUTOS LIMITED

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 November 2024
and signed on behalf of the board by:

Name: Mr Frederick Cook
Status: Director

The notes form part of these financial statements

ASSINGTON AUTOS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Plant and machinery - 15% reducing balance Fittings fixtures and equipment - 15% reducing balance Motor vehicles - 15% reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Other accounting policies

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

ASSINGTON AUTOS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

2. Employees

2023 2022
Average number of employees during the period 20 23

ASSINGTON AUTOS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible Assets

Total
Cost £
At 01 November 2022 2,838,167
Additions 580,778
At 31 October 2023 3,418,945
Depreciation
At 01 November 2022 739,181
Charge for year 260,395
At 31 October 2023 999,576
Net book value
At 31 October 2023 2,419,369
At 31 October 2022 2,098,986