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Registered number: 02374587
Formby M.O.T. and Service Centre Limited
Financial Statements
For The Year Ended 30 June 2024
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02374587
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 66,650 68,453
66,650 68,453
CURRENT ASSETS
Stocks 5 5,792 5,792
Debtors 6 24,899 21,252
Cash at bank and in hand 451,941 399,940
482,632 426,984
Creditors: Amounts Falling Due Within One Year 7 (83,563 ) (82,702 )
NET CURRENT ASSETS (LIABILITIES) 399,069 344,282
TOTAL ASSETS LESS CURRENT LIABILITIES 465,719 412,735
NET ASSETS 465,719 412,735
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 465,619 412,635
SHAREHOLDERS' FUNDS 465,719 412,735
Page 1
Page 2
For the year ending 30 June 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 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.
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 Profit and Loss Account.
On behalf of the board
Mr J D Walker
Director
31st October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Formby M.O.T. and Service Centre Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02374587 . The registered office is 55 Hoghton Street, Southport, Merseyside, PR9 0PG. The company's functional and presentational currency is GBP and no level of rounding has been used in the preparation of the financial statements.
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. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% reducing balance
Plant & Machinery 10% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 July 2023 18,237 139,953 26,950 17,585 202,725
Additions - 5,452 - 2,025 7,477
As at 30 June 2024 18,237 145,405 26,950 19,610 210,202
Depreciation
As at 1 July 2023 13,606 95,185 15,710 9,771 134,272
Provided during the period 464 5,022 2,810 984 9,280
As at 30 June 2024 14,070 100,207 18,520 10,755 143,552
Net Book Value
As at 30 June 2024 4,167 45,198 8,430 8,855 66,650
As at 1 July 2023 4,631 44,768 11,240 7,814 68,453
5. Stocks
2024 2023
£ £
Stock 5,792 5,792
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 22,554 16,098
Other debtors 2,345 5,154
24,899 21,252
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,026 30,861
Other creditors 2,504 2,839
Taxation and social security 58,033 49,002
83,563 82,702
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5