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
M Thorley Vehicle Repairs Limited
Company Information
for the year ended 31 March 2024
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
M Thorley Vehicle Repairs Limited
Statement of financial position
as at 31 March 2024
Tangible assets
12,500
15,210
Cash at bank and in hand
321,142
122,933
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
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
M Thorley Vehicle Repairs Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets (where applicable).
The accounts are presented in £ sterling.
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 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 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.
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
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
At 31 March 2024
6,280
5,500
720
12,500
At 31 March 2023
7,810
6,500
900
15,210
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
8,066
6,067
Loans from directors
185,068
16,336
7
Deferred taxation
2024
2023
Accelerated capital allowances
2,375
2,890
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
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
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).