Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31repairs and servicing of motor vehiclesfalse2023-08-01false66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04452773 2023-08-01 2024-07-31 04452773 2022-08-01 2023-07-31 04452773 2024-07-31 04452773 2023-07-31 04452773 c:Director1 2023-08-01 2024-07-31 04452773 d:Buildings 2023-08-01 2024-07-31 04452773 d:Buildings 2024-07-31 04452773 d:Buildings 2023-07-31 04452773 d:Buildings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04452773 d:PlantMachinery 2023-08-01 2024-07-31 04452773 d:PlantMachinery 2024-07-31 04452773 d:PlantMachinery 2023-07-31 04452773 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04452773 d:MotorVehicles 2023-08-01 2024-07-31 04452773 d:MotorVehicles 2024-07-31 04452773 d:MotorVehicles 2023-07-31 04452773 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04452773 d:FurnitureFittings 2023-08-01 2024-07-31 04452773 d:FurnitureFittings 2024-07-31 04452773 d:FurnitureFittings 2023-07-31 04452773 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04452773 d:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 04452773 d:OtherPropertyPlantEquipment 2024-07-31 04452773 d:OtherPropertyPlantEquipment 2023-07-31 04452773 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04452773 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04452773 d:Goodwill 2024-07-31 04452773 d:Goodwill 2023-07-31 04452773 d:CurrentFinancialInstruments 2024-07-31 04452773 d:CurrentFinancialInstruments 2023-07-31 04452773 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04452773 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04452773 d:ShareCapital 2024-07-31 04452773 d:ShareCapital 2023-07-31 04452773 d:RetainedEarningsAccumulatedLosses 2024-07-31 04452773 d:RetainedEarningsAccumulatedLosses 2023-07-31 04452773 c:FRS102 2023-08-01 2024-07-31 04452773 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 04452773 c:FullAccounts 2023-08-01 2024-07-31 04452773 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04452773 2 2023-08-01 2024-07-31 04452773 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 04452773









ASHBOURNE MOTORS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
ASHBOURNE MOTORS LIMITED
REGISTERED NUMBER: 04452773

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
196,065
203,873

  
196,065
203,873

Current assets
  

Stocks
 6 
11,002
11,505

Debtors: amounts falling due within one year
 7 
229,935
225,745

Cash at bank and in hand
 8 
488,910
399,455

  
729,847
636,705

Creditors: amounts falling due within one year
 9 
(184,180)
(176,973)

Net current assets
  
 
 
545,667
 
 
459,732

Total assets less current liabilities
  
741,732
663,605

  

Net assets
  
741,732
663,605


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
741,632
663,505

  
741,732
663,605


Page 1

 
ASHBOURNE MOTORS LIMITED
REGISTERED NUMBER: 04452773
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider 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 directors acknowledge their 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 income and retained earnings 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 23 January 2025.




................................................
Andrew Prince
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ASHBOURNE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Ashbourne Motors Limited is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was that of repairs and servicing 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

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.3

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.

 
2.4

Interest income

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

Page 3

 
ASHBOURNE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

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.

Page 4

 
ASHBOURNE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and equipment
-
25% reducing balance
Property improvements
-
15% reducing balance

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.

 
2.9

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.10

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.

 
2.11

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.

 
2.12

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 5

 
ASHBOURNE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2023
30,800



At 31 July 2024

30,800



Amortisation


At 1 August 2023
30,800



At 31 July 2024

30,800



Net book value



At 31 July 2024
-



At 31 July 2023
-



Page 6

 
ASHBOURNE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and equipment
Property improve ments
Total

£
£
£
£
£
£



Cost or valuation


At 1 August 2023
125,000
97,092
204,249
74,327
27,878
528,546


Additions
-
-
26,153
4,950
-
31,103


Disposals
-
-
(28,545)
-
-
(28,545)



At 31 July 2024

125,000
97,092
201,857
79,277
27,878
531,104



Depreciation


At 1 August 2023
-
88,650
143,697
66,534
25,792
324,673


Charge for the year on owned assets
-
1,689
17,664
3,188
313
22,854


Disposals
-
-
(12,488)
-
-
(12,488)



At 31 July 2024

-
90,339
148,873
69,722
26,105
335,039



Net book value



At 31 July 2024
125,000
6,753
52,984
9,555
1,773
196,065



At 31 July 2023
125,000
8,442
60,552
7,793
2,086
203,873

Page 7

 
ASHBOURNE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Stocks

2024
2023
£
£

Raw materials and consumables
11,002
11,505

11,002
11,505



7.


Debtors

2024
2023
£
£


Trade debtors
22,780
17,807

Other debtors
200,000
200,000

Prepayments and accrued income
7,155
7,938

229,935
225,745



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
488,910
399,455

488,910
399,455



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
36,015
24,768

Corporation tax
50,519
40,982

Other taxation and social security
15,275
21,461

Other creditors
79,329
86,342

Accruals and deferred income
3,042
3,420

184,180
176,973


Page 8

 
ASHBOURNE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Pension commitments

The Company operates a defined contributions pension scheme in respect of the employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,618 (2023 - £2,802). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date.


11.


Related party transactions

During the year the Company paid rent of £36,000 (2023 - £36,000) for use of premises to the directors Andrew and Karin Prince.


12.


Controlling party

The Company is controlled by the director, Andrew Prince, by virtue of his shareholding as described in the directors' report.

 
Page 9