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Company Registration No. 06097179 (England and Wales)
M Thorley Vehicle Repairs Limited Unaudited accounts for the year ended 31 March 2024
M Thorley Vehicle Repairs Limited Unaudited accounts Contents
Page
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M Thorley Vehicle Repairs Limited Company Information for the year ended 31 March 2024
Director
Mark Thorley
Secretary
Dawn Thorley
Company Number
06097179 (England and Wales)
Registered Office
High Ridge, 26 Woodside Drive Meir Heath Stoke-on-Trent Staffordshire ST3 7JW England
Accountants
James Accountancy Services Ltd 3 Waterloo Grove Kidsgrove Stoke-on-Trent Staffordshire ST7 4SY
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M Thorley Vehicle Repairs Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
12,500 
15,210 
Current assets
Inventories
8,726 
9,758 
Debtors
255 
255 
Cash at bank and in hand
321,142 
122,933 
330,123 
132,946 
Creditors: amounts falling due within one year
(194,784)
(24,441)
Net current assets
135,339 
108,505 
Total assets less current liabilities
147,839 
123,715 
Provisions for liabilities
Deferred tax
(2,375)
(2,890)
Net assets
145,464 
120,825 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
145,463 
120,824 
Shareholders' funds
145,464 
120,825 
For the year ending 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 December 2024 and were signed on its behalf by
Mark Thorley Director Company Registration No. 06097179
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M Thorley Vehicle Repairs Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
M Thorley Vehicle Repairs Limited is a private company, limited by shares, registered in England and Wales, registration number 06097179. The registered office is High Ridge, 26 Woodside Drive, Meir Heath, Stoke-on-Trent, Staffordshire, ST3 7JW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets (where applicable).
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance method.
Motor vehicles
25% reducing balance method.
Computer equipment
25% reducing balance method.
Stocks
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 items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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M Thorley Vehicle Repairs Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
17,012 
23,764 
1,599 
42,375 
At 31 March 2024
17,012 
23,764 
1,599 
42,375 
Depreciation
At 1 April 2023
9,202 
17,264 
699 
27,165 
Charge for the year
1,530 
1,000 
180 
2,710 
At 31 March 2024
10,732 
18,264 
879 
29,875 
Net book value
At 31 March 2024
6,280 
5,500 
720 
12,500 
At 31 March 2023
7,810 
6,500 
900 
15,210 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
255 
255 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
330 
732 
Taxes and social security
8,066 
6,067 
Loans from directors
185,068 
16,336 
Accruals
1,320 
1,306 
194,784 
24,441 
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
2,375 
2,890 
2024 
2023 
£ 
£ 
Provision at start of year
2,890 
2,969 
Credited to the profit and loss account
(515)
(79)
Provision at end of year
2,375 
2,890 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
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M Thorley Vehicle Repairs Limited Notes to the Accounts for the year ended 31 March 2024
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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