2023-04-012024-03-312024-03-31false04687195TRIPLE A MOTOR FACTORS 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TRIPLE A MOTOR FACTORS LIMITED

Registered Number
04687195
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

TRIPLE A MOTOR FACTORS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

GARDNER, David Edward

Company Secretary

GARDNER, Mary Catherine

Registered Address

Unit16 Worcester Road Industrial Estate
Chipping Norton
OX7 5XW

Registered Number

04687195 (England and Wales)
TRIPLE A MOTOR FACTORS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets444,51838,931
44,51838,931
Current assets
Stocks5129,532142,752
Debtors6130,556150,646
Cash at bank and on hand50,04637,473
310,134330,871
Creditors amounts falling due within one year7(169,770)(181,299)
Net current assets (liabilities)140,364149,572
Total assets less current liabilities184,882188,503
Provisions for liabilities8(8,458)(7,397)
Net assets176,424181,106
Capital and reserves
Called up share capital66
Profit and loss account176,418181,100
Shareholders' funds176,424181,106
The financial statements were approved and authorised for issue by the Director on 4 December 2024, and are signed on its behalf by:
GARDNER, David Edward
Director
Registered Company No. 04687195
TRIPLE A MOTOR FACTORS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1010
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 2356,64056,640
At 31 March 2456,64056,640
Amortisation and impairment
At 01 April 2356,64056,640
At 31 March 2456,64056,640
Net book value
At 31 March 24--
At 31 March 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 April 2348,29964,823113,122
Additions16628,70028,866
Disposals-(27,213)(27,213)
At 31 March 2448,46566,310114,775
Depreciation and impairment
At 01 April 2348,14626,04574,191
Charge for year1187,2877,405
On disposals-(11,339)(11,339)
At 31 March 2448,26421,99370,257
Net book value
At 31 March 2420144,31744,518
At 31 March 2315338,77838,931
5.Stocks

2024

2023

££
Finished goods129,532142,752
Total129,532142,752
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables110,562124,034
Other debtors8,93717,796
Prepayments and accrued income11,0578,816
Total130,556150,646
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.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables127,237123,618
Taxation and social security30,77643,525
Other creditors9,10512,216
Accrued liabilities and deferred income2,6521,940
Total169,770181,299
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.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)8,4587,397
Total8,4587,397