Acorah Software Products - Accounts Production 16.0.110 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 13573044 Mr Mark Roythorne iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13573044 2023-08-31 13573044 2024-08-31 13573044 2023-09-01 2024-08-31 13573044 frs-core:CurrentFinancialInstruments 2024-08-31 13573044 frs-core:Non-currentFinancialInstruments 2024-08-31 13573044 frs-core:ShareCapital 2024-08-31 13573044 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 13573044 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 13573044 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 13573044 frs-bus:SmallEntities 2023-09-01 2024-08-31 13573044 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 13573044 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 13573044 frs-core:UnlistedNon-exchangeTraded 2024-08-31 13573044 frs-core:UnlistedNon-exchangeTraded 2023-08-31 13573044 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-08-31 13573044 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-08-31 13573044 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-08-31 13573044 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-08-31 13573044 frs-bus:Director1 2023-09-01 2024-08-31 13573044 frs-countries:EnglandWales 2023-09-01 2024-08-31 13573044 2022-08-31 13573044 2023-08-31 13573044 2022-09-01 2023-08-31 13573044 frs-core:CurrentFinancialInstruments 2023-08-31 13573044 frs-core:Non-currentFinancialInstruments 2023-08-31 13573044 frs-core:ShareCapital 2023-08-31 13573044 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 13573044
MARS Automotive Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Steve Pye & Co.
Chartered Certified Accountants
3 North Lynn Bus. Village
Bergen Way, North Lynn Industrial Estate
King's Lynn
Norfolk
PE30 2JG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13573044
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 110,550 110,550
110,550 110,550
CURRENT ASSETS
Cash at bank and in hand 260 97
260 97
Creditors: Amounts Falling Due Within One Year 5 (12,702 ) (12,660 )
NET CURRENT ASSETS (LIABILITIES) (12,442 ) (12,563 )
TOTAL ASSETS LESS CURRENT LIABILITIES 98,108 97,987
Creditors: Amounts Falling Due After More Than One Year 6 (12,000 ) (24,000 )
NET ASSETS 86,108 73,987
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 86,008 73,887
SHAREHOLDERS' FUNDS 86,108 73,987
Page 1
Page 2
For the year ending 31 August 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 Profit and Loss Account.
On behalf of the board
Mr Mark Roythorne
Director
29 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MARS Automotive Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13573044 . The registered office is Unit 3, Bergen Way, North Lynn Industrial Estate, King's Lynn, Norfolk, PE30 2JG.  The presentation currency of the financial statements is the Pound Sterling (£).
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. Significant judgements and estimations
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.
2.3. Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
Page 3
Page 4
4. Investments
Unlisted
£
Cost
As at 1 September 2023 110,550
As at 31 August 2024 110,550
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 110,550
As at 1 September 2023 110,550
Investments in subsidary undertakings are recognised at cost.
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other loans 12,000 12,000
Other creditors 702 660
12,702 12,660
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 12,000 24,000
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4