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Registration number: 11435674

Autohaus (Berkshire) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Autohaus (Berkshire) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Autohaus (Berkshire) Limited

(Registration number: 11435674)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

105,437

75,793

Current assets

 

Stocks

7

36,000

36,000

Debtors

8

1,501

1,917

Cash at bank and in hand

 

156,773

138,064

 

194,274

175,981

Creditors: Amounts falling due within one year

9

(59,365)

(61,081)

Net current assets

 

134,909

114,900

Total assets less current liabilities

 

240,346

190,693

Creditors: Amounts falling due after more than one year

9

(10,003)

(20,003)

Provisions for liabilities

(24,007)

(16,596)

Net assets

 

206,336

154,094

Capital and reserves

 

Called up share capital

100

100

Retained earnings

206,236

153,994

Shareholders' funds

 

206,336

154,094

 

Autohaus (Berkshire) Limited

(Registration number: 11435674)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 January 2025
 

.........................................
M A Luckhurst
Director

 

Autohaus (Berkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is reliant on the financial support of its shareholder, who has committed to provide additional cash injections as required. Therefore, the accounts have been prepared on a going concern basis on the understanding that sufficient cash will be made available to enable the company to meet its liabilities as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of vehicle repairs and MOT services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Autohaus (Berkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% reducing balance

Office Equipment

25% reducing balance

Plant and Machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Autohaus (Berkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Taxation

2024

2023

£

£

Corporation tax

7,351

13,269

Deferred tax

7,411

16,596

14,762

29,865

4

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

5

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

33,077

13,995

 

Autohaus (Berkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

1,253

10,472

92,366

104,091

Additions

601

-

62,120

62,721

At 30 June 2024

1,854

10,472

154,486

166,812

Depreciation

At 1 July 2023

731

4,777

22,790

28,298

Charge for the year

243

1,423

31,411

33,077

At 30 June 2024

974

6,200

54,201

61,375

Carrying amount

At 30 June 2024

880

4,272

100,285

105,437

At 30 June 2023

522

5,695

69,576

75,793

7

Stocks

2024
£

2023
£

Other inventories

36,000

36,000

8

Debtors

Current

2024
£

2023
£

Trade debtors

1,442

1,917

Other debtors

59

-

 

1,501

1,917

 

Autohaus (Berkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

10,000

10,000

Trade creditors

18,409

-

Taxation and social security

16,608

35,207

Other creditors

14,348

15,874

59,365

61,081

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

10,003

20,003

10

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,000

10,000

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

10,003

20,003

11

Related party transactions

R Barnes (director) had loans with the company. At the balance sheet date, the amount owed to/(from) R Barnes was £639 (2023: £639).