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Registered Number: 10539203
England and Wales

 

 

 

AAA GREASE GURU LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 104,730    141,985 
104,730    141,985 
Current assets      
Stocks 4 81,559    97,733 
Debtors 5 311,663    360,702 
Cash at bank and in hand 10    20,299 
393,232    478,734 
Creditors: amount falling due within one year 6 (565,470)   (711,899)
Net current assets (172,238)   (233,165)
 
Total assets less current liabilities (67,508)   (91,180)
Creditors: amount falling due after more than one year 7 (35,195)   (64,504)
Provisions for liabilities 8 (2,104)   (1,681)
Net assets (104,807)   (157,365)
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account (104,907)   (157,465)
Shareholders' funds (104,807)   (157,365)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 08 January 2025 and were signed on its behalf by:


-------------------------------
Mr P A McGowan
Director
1
General Information
AAA Grease Guru Limited is a private company, limited by shares, registered in England and Wales, registration number 10539203, registration address Unit 1 Chatsworth Industrial Estate, Percy Street, Leeds, LS12 1EL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 15 Reducing Balance
Fixtures and Fittings 15 Reducing Balance
Motor Vehicles 25 Reducing Balance
Plant and Machinery 15 Reducing Balance
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 26 (2023 : 22).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 May 2023 42,133    230,139    8,659    7,425    288,356 
Additions 1,951        1,092    3,043 
Disposals   (16,094)       (16,094)
At 30 April 2024 44,084    214,045    8,659    8,517    275,305 
Depreciation
At 01 May 2023 13,181    126,168    4,825    2,198    146,372 
Charge for year 8,730    18,579    2,850    1,018    31,177 
On disposals   (6,974)       (6,974)
At 30 April 2024 21,911    137,773    7,675    3,216    170,575 
Net book values
Closing balance as at 30 April 2024 22,173    76,272    984    5,301    104,730 
Opening balance as at 01 May 2023 28,952    103,972    3,834    5,227    141,985 


4.

Stocks

2024
£
  2023
£
Stocks 81,559    97,733 
81,559    97,733 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 290,861    330,320 
Other Debtors 20,802    30,382 
311,663    360,702 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 204,899    332,923 
Bank Loans & Overdrafts 181,488    221,764 
Taxation and Social Security 154,705    107,204 
Obligations under HP/Financial Leases 18,181    43,608 
Other Creditors 6,197    6,400 
565,470    711,899 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 30,867    36,868 
Obligations under HP/Financial Leases 4,328    27,636 
35,195    64,504 

8.

Provisions for liabilities

2024
£
  2023
£
Pension Provisions 2,104    1,681 
2,104    1,681 

9.

Share Capital

Authorised
100 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

10.

Related Party

During the year the company did not enter into any transactions that require disclosure.
11.

Controlling Party

The company was under the control of its directors throughout the year.
2