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Registered number: 04760219
Ashton Motor Care Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
S T Hannam FCCA
Association of Chartered Certified Accountants
42 King Georges Road
Bishopsworth
Bristol
BS13 8LX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04760219
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,371 7,707
Tangible Assets 5 534,014 534,699
540,385 542,406
CURRENT ASSETS
Stocks 6 400 600
Debtors 7 2,325 3,685
Cash at bank and in hand 40,266 51,362
42,991 55,647
Creditors: Amounts Falling Due Within One Year 8 (91,930 ) (89,699 )
NET CURRENT ASSETS (LIABILITIES) (48,939 ) (34,052 )
TOTAL ASSETS LESS CURRENT LIABILITIES 491,446 508,354
Creditors: Amounts Falling Due After More Than One Year 9 (273,544 ) (307,326 )
NET ASSETS 217,902 201,028
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 217,802 200,928
SHAREHOLDERS' FUNDS 217,902 201,028
Page 1
Page 2
For the year ending 31 May 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 Matthew Gill
Director
08/11/2024
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
Ashton Motor Care Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04760219 . The registered office is 23 Bedminster Down Road, Bristol, BS13 7AB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Freehold 0%
Plant & Machinery 25%
Motor Vehicles 25%
2.5. 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.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 1 1
Manufacturing 2 2
4 4
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4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 26,730
As at 31 May 2024 26,730
Amortisation
As at 1 June 2023 19,023
Provided during the period 1,336
As at 31 May 2024 20,359
Net Book Value
As at 31 May 2024 6,371
As at 1 June 2023 7,707
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 June 2023 526,439 35,338 1,000 562,777
Additions - 1,840 - 1,840
As at 31 May 2024 526,439 37,178 1,000 564,617
Depreciation
As at 1 June 2023 - 27,083 995 28,078
Provided during the period - 2,524 1 2,525
As at 31 May 2024 - 29,607 996 30,603
Net Book Value
As at 31 May 2024 526,439 7,571 4 534,014
As at 1 June 2023 526,439 8,255 5 534,699
Company purchased its premises during the year.
6. Stocks
2024 2023
£ £
Materials 400 600
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,303 3,663
Other debtors 22 22
2,325 3,685
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,186 6,198
Bank loans and overdrafts 30,678 33,408
Corporation tax 31,297 30,731
Other taxes and social security 929 5,312
VAT 10,986 10,952
Other creditors 4,000 559
Accruals and deferred income 1,100 1,220
Directors' loan accounts 1,754 1,319
91,930 89,699
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 273,544 307,326
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 32,000 34,000
Final dividend paid 50,000 28,000
82,000 62,000
12. Ultimate Controlling Party
The company's ultimate controlling party is C Talbot and M Gill by virtue of their ownership of 100% of the issued share capital in the company.
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