2023-04-01 02640963 2024-03-31 02640963 2023-04-01 2024-03-31 02640963 2023-03-31 02640963 2022-04-01 2023-03-31 02640963 uk-core:WithinOneYear 2023-03-31 02640963 uk-core:WithinOneYear 2024-03-31 02640963 uk-core:AfterOneYear 2023-03-31 02640963 uk-core:AfterOneYear 2024-03-31 02640963 uk-core:ShareCapital 2024-03-31 02640963 uk-core:ShareCapital 2023-03-31 02640963 uk-core:RevaluationReserve 2024-03-31 02640963 uk-core:RevaluationReserve 2023-03-31 02640963 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 02640963 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 02640963 uk-bus:Director1 2023-04-01 2024-03-31 02640963 uk-core:Buildings 2023-04-01 2024-03-31 02640963 uk-core:PlantMachinery 2023-04-01 2024-03-31 02640963 uk-core:ToolsEquipment 2023-04-01 2024-03-31 02640963 uk-core:CommercialMotorVehicles 2023-04-01 2024-03-31 02640963 uk-core:FurnitureFittings 2023-04-01 2024-03-31 02640963 uk-core:ToolsEquipment 2023-03-31 02640963 uk-core:FurnitureFittings 2023-03-31 02640963 uk-core:CommercialMotorVehicles 2023-03-31 02640963 uk-core:PlantMachinery 2023-03-31 02640963 uk-core:Buildings 2023-03-31 02640963 uk-core:Buildings 2024-03-31 02640963 uk-core:CommercialMotorVehicles 2024-03-31 02640963 uk-core:FurnitureFittings 2024-03-31 02640963 uk-core:ToolsEquipment 2024-03-31 02640963 uk-core:PlantMachinery 2024-03-31 02640963 uk-core:WithinOneYear 2024-03-31 02640963 uk-core:WithinOneYear 2023-03-31 02640963 uk-core:AfterOneYear uk-core:Secured 2024-03-31 02640963 uk-core:AfterOneYear uk-core:Secured 2023-03-31 iso4217:GBP xbrli:pure 02640963 uk-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02640963 uk-bus:FRS102 2023-04-01 2024-03-31 02640963 uk-bus:FilletedAccounts 2023-04-01 2024-03-31 02640963 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31
Steadfast Autocentre Limited
Registered Number:02640963
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
Steadfast Autocentre Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
02640963
As at 31 March 2024
Steadfast Autocentre Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
264,204
280,589
2
264,204
280,589
Current assets
Inventories
17,084
17,038
3
Trade and other receivables
24,487
24,603
4
37,403
Cash and cash equivalents
120,300
161,941
78,974
Trade and other payables: amounts falling due within one
year
(121,506)
(179,791)
5
(42,532)
(17,850)
Net current liabilities
Total assets less current liabilities
246,354
238,057
Trade and other payables: amounts falling due after more
than one year
(36,111)
-
6
246,354
Net assets
201,946
Capital and reserves
Called up share capital
5,000
5,000
Revaluation reserve
59,620
59,620
7
Retained earnings
181,734
137,326
246,354
201,946
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
M Worth Director
These financial statements were approved and authorised for issue by the Board on 30 May 2024 and were signed by:
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4
Registered Number :
02640963
For the year ended 31 March 2024
Steadfast Autocentre Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 March 2024
Steadfast Autocentre Limited
Notes to the Financial Statements
Statutory Information
Steadfast Autocentre Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 02640963.
Registered address:
50 Rutland Road
Sheffield
S3 8BD
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
2% Straight line
Plant and machinery
15% Reducing balance
15% Reducing balance
Computer equipment
25% Reducing balance
Motor vehicles
15% Reducing balance
Fixtures and fittings
The company''s freehold properties are revalued in full every five years. Interim valuations are carried out when it is
likely that there has been a material change in value.
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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6
For the year ended 31 March 2024
Steadfast Autocentre Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Motor vehicles
Plant and
machinery
Land and
buildings
£
£
£
£
£
£
Cost or
valuation
At 01 April 2023
663,130
2,685
1,037
32,140
377,268
250,000
4,731
723
-
2,000
2,008
-
Additions
-
-
(12,994)
-
-
Disposals
(12,994)
At 31 March 2024
250,000
21,146
1,037
3,408
654,867
379,276
Provision for depreciation and impairment
At 01 April 2023
382,541
1,743
-
22,810
288,788
69,200
Charge for year
21,034
249
156
2,149
13,480
5,000
(12,912)
-
-
(12,912)
-
-
On disposal
At 31 March 2024
390,663
1,992
156
12,047
302,268
74,200
At 31 March 2024
Net book value
175,800
77,008
9,099
881
1,416
264,204
180,800
88,480
9,330
1,037
942
280,589
At 31 March 2023
3. Inventories
2023
2024
£
£
Stocks
17,038
17,084
4. Trade and other receivables
2023
2024
£
£
Trade debtors
23,834
24,292
Other debtors
769
195
24,487
24,603
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7
For the year ended 31 March 2024
Steadfast Autocentre Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
4,049
2,309
Trade creditors
67,591
55,653
Taxation and social security
70,992
48,396
Other creditors
37,159
15,148
179,791
121,506
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
-
36,111
7. Reserves
Total
£
Revaluation reserve at 01 April 2023
59,620
59,620
Revaluation reserve at 31 March 2024
8. Average number of persons employed
During the year the average number of employees was 16 (2023 : 16)
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