Alderson Auto's Limited
Filleted Abridged Accounts
31 August 2024
Registered number
09106769
Alderson Auto's Limited
Registered number: 09106769
Abridged Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 42,133 34,780
Current assets
Stocks 951 951
Debtors 54,910 9,681
Cash at bank and in hand 43,219 60,924
99,080 71,556
Creditors: amounts falling due within one year (121,674) (88,348)
Net current liabilities (22,594) (16,792)
Total assets less current liabilities 19,539 17,988
Creditors: amounts falling due after more than one year (19,000) (17,342)
Net assets 539 646
Capital and reserves
Called up share capital 10 10
Profit and loss account 529 636
Shareholders' funds 539 646
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
A Alderson
Director
Approved by the board on 13 November 2024
Alderson Auto's Limited
Notes to the Abridged Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 4 years
Plant & machinery over 4 years
Office equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Total
£
Cost
At 1 September 2023 101,016
Additions 28,781
Disposals (15,000)
At 31 August 2024 114,797
Depreciation
At 1 September 2023 66,236
Charge for the year 20,778
On disposals (14,350)
At 31 August 2024 72,664
Net book value
At 31 August 2024 42,133
At 31 August 2023 34,780
4 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M Alderson
Loan 1,380 - (1,380) -
Loan 2 - 20,527 - 20,527
A Alderson
Loan 1,380 - (1,380) -
Loan 2 - 20,527 - 20,527
2,760 41,054 (2,760) 41,054
5 Other information
Alderson Auto's Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 4, Crossgates House
67 Crossgates Shopping Centre
Station Road
Leeds
LS15 8EU
Alderson Auto's Limited 09106769 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2024 A Alderson No description of principal activity 09106769 2022-09-01 2023-08-31 09106769 core:WithinOneYear 2023-08-31 09106769 core:AfterOneYear 2023-08-31 09106769 core:ShareCapital 2023-08-31 09106769 core:RetainedEarningsAccumulatedLosses 2023-08-31 09106769 2023-09-01 2024-08-31 09106769 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09106769 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09106769 bus:Director40 2023-09-01 2024-08-31 09106769 1 2023-09-01 2024-08-31 09106769 2 2023-09-01 2024-08-31 09106769 bus:Director1 2023-09-01 2024-08-31 09106769 bus:Director1 1 2023-09-01 2024-08-31 09106769 bus:Director1 2 2023-09-01 2024-08-31 09106769 bus:Director2 2023-09-01 2024-08-31 09106769 bus:Director2 1 2023-09-01 2024-08-31 09106769 bus:Director2 2 2023-09-01 2024-08-31 09106769 countries:England 2023-09-01 2024-08-31 09106769 bus:FRS102 2023-09-01 2024-08-31 09106769 bus:AbridgedAccounts 2023-09-01 2024-08-31 09106769 2024-08-31 09106769 core:WithinOneYear 2024-08-31 09106769 core:AfterOneYear 2024-08-31 09106769 core:ShareCapital 2024-08-31 09106769 core:RetainedEarningsAccumulatedLosses 2024-08-31 09106769 bus:Director1 1 2024-08-31 09106769 bus:Director1 2 2024-08-31 09106769 bus:Director2 1 2024-08-31 09106769 bus:Director2 2 2024-08-31 09106769 2023-08-31 09106769 bus:Director1 1 2023-08-31 09106769 bus:Director1 2 2023-08-31 09106769 bus:Director2 1 2023-08-31 09106769 bus:Director2 2 2023-08-31 iso4217:GBP xbrli:pure