Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31falsefalse2023-06-01Maintenance and repair of motor vehicles98trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07319029 2023-06-01 2024-05-31 07319029 2024-05-31 07319029 2023-05-31 07319029 2023-06-01 2024-05-31 07319029 2022-06-01 2023-05-31 07319029 2024-05-31 07319029 2023-05-31 07319029 c:Director2 2023-06-01 2024-05-31 07319029 d:Buildings d:ShortLeaseholdAssets 2023-06-01 2024-05-31 07319029 d:Buildings d:ShortLeaseholdAssets 2024-05-31 07319029 d:Buildings d:ShortLeaseholdAssets 2023-05-31 07319029 d:PlantMachinery 2023-06-01 2024-05-31 07319029 d:PlantMachinery 2024-05-31 07319029 d:PlantMachinery 2023-05-31 07319029 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07319029 d:MotorVehicles 2023-06-01 2024-05-31 07319029 d:MotorVehicles 2024-05-31 07319029 d:MotorVehicles 2023-05-31 07319029 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07319029 d:FurnitureFittings 2023-06-01 2024-05-31 07319029 d:FurnitureFittings 2024-05-31 07319029 d:FurnitureFittings 2023-05-31 07319029 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07319029 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07319029 d:CurrentFinancialInstruments 2024-05-31 07319029 d:CurrentFinancialInstruments 2023-05-31 07319029 d:Non-currentFinancialInstruments 2024-05-31 07319029 d:Non-currentFinancialInstruments 2023-05-31 07319029 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 07319029 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07319029 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 07319029 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 07319029 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 07319029 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 07319029 d:ShareCapital 2024-05-31 07319029 d:ShareCapital 2023-05-31 07319029 d:RetainedEarningsAccumulatedLosses 2024-05-31 07319029 d:RetainedEarningsAccumulatedLosses 2023-05-31 07319029 c:FRS102 2023-06-01 2024-05-31 07319029 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07319029 c:FullAccounts 2023-06-01 2024-05-31 07319029 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07319029 2 2023-06-01 2024-05-31 07319029 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 07319029










BLACKWATER AUTOWORKS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED MAY 31, 2024

 
BLACKWATER AUTOWORKS LTD
REGISTERED NUMBER: 07319029

STATEMENT OF FINANCIAL POSITION
AS AT MAY 31, 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
82,346
66,174

  
82,346
66,174

Current assets
  

Stocks
 5 
12,200
4,379

Debtors: amounts falling due within one year
 6 
38,993
27,274

Cash at bank and in hand
 7 
27,737
38,675

  
78,930
70,328

Creditors: amounts falling due within one year
 8 
(127,971)
(124,921)

Net current liabilities
  
 
 
(49,041)
 
 
(54,593)

Total assets less current liabilities
  
33,305
11,581

Creditors: amounts falling due after more than one year
 9 
(30,841)
(36,458)

  

Net assets/(liabilities)
  
2,464
(24,877)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,364
(24,977)

  
2,464
(24,877)


Page 1

 
BLACKWATER AUTOWORKS LTD
REGISTERED NUMBER: 07319029
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT MAY 31, 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on November 29, 2024.





Bhim Gurung
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BLACKWATER AUTOWORKS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED MAY 31, 2024

1.


General information

Blackwater Autoworks Limited is a private company limited by shares and incorporated in England and Wales. The registered office address of the company is 207 Equitable House, 7 General Gordon Square, London, England, SE18 6FH.
The principal activity of the company is that of repair and maintenance of motor vehicles.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BLACKWATER AUTOWORKS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED MAY 31, 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line / reducing balance method.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
Over the term of lease of 15 years
Plant & machinery
-
15% reducing balance method
Motor vehicles
-
25% reducing balance method
Fixtures, fittings & equipments
-
25% reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
BLACKWATER AUTOWORKS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED MAY 31, 2024

2.Accounting policies (continued)

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.10

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.


3.


Employees

2024
2023
£
£

Wages and salaries
137,925
152,156

Social security costs
5,476
5,911

Cost of defined contribution scheme
1,456
1,545

144,857
159,612


The average monthly number of employees, including directors, during the year was 9 (2023 - 8).

Page 5

 
BLACKWATER AUTOWORKS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED MAY 31, 2024

4.


Tangible fixed assets





S/Term Leasehold Property
Plant & machinery
Motor vehicles
Fixtures, fittings & equipments
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
27,325
139,363
-
18,304
184,992


Additions
-
21,603
5,833
708
28,144



At May 31, 2024

27,325
160,966
5,833
19,012
213,136



Depreciation


At 1 June 2023
26,306
78,486
-
14,026
118,818


Charge for the year on owned assets
1,019
8,249
1,458
1,246
11,972



At May 31, 2024

27,325
86,735
1,458
15,272
130,790



Net book value



At May 31, 2024
-
74,231
4,375
3,740
82,346



At May 31, 2023
1,019
60,877
-
4,278
66,174


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
12,200
4,379

12,200
4,379


Page 6

 
BLACKWATER AUTOWORKS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED MAY 31, 2024

6.


Debtors

2024
2023
£
£


Trade debtors
17,501
19,774

Other debtors
21,492
7,500

38,993
27,274



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
27,737
38,675

27,737
38,675



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,184
12,564

Trade creditors
21,382
29,673

Corporation tax
2,326
-

Other taxation and social security
8,250
9,144

Other creditors
89,262
71,973

Accruals and deferred income
1,567
1,567

127,971
124,921


2024
2023
£
£

Other taxation and social security

PAYE/NI control
1,865
1,952

VAT control
6,385
7,192

8,250
9,144


Page 7

 
BLACKWATER AUTOWORKS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED MAY 31, 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
30,841
36,458

30,841
36,458



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,184
12,564


5,184
12,564

Amounts falling due 1-2 years

Bank loans
30,841
36,458


30,841
36,458



36,025
49,022



11.


Pension commitments

The company operates defined contribution pension scheme for its employees. The assets of the scheme are held in a separately from those of the company in independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £1,456 (2023: £1,545). The amount outstanding at the year-end were £203 (2023: £337) and are included in other creditors. 


12.


Related party transactions

During the year, the company paid consulting fees of £24,000 (2023: £18,000) to the director of the Company.

 
Page 8