Registered number
06088976
Somerton MOT Limited
Unaudited Filleted Accounts
30 April 2024
Somerton MOT Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Chartered Accountants' report 3
Balance sheet 4
Notes to the accounts 5
Somerton MOT Limited
Company Information
Directors
S Dyson
P Martin
Secretary
P Martin
Accountants
Cochrane & Co Accountants Limited
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
Registered office
Somerton MOT Centre
6 Enterprise Way
Somerton Industrial Park
Cowes
PO31 8AP
Registered number
06088976
Somerton MOT Limited
Registered number: 06088976
Directors' Report
The directors present their report and accounts for the year ended 30 April 2024.
Principal activities
The company's principal activity during the year continued to be that of maintenance and repair of motor vehicles.
Directors
The following persons served as directors during the year:
S Dyson
P Martin
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 21 January 2025 and signed on its behalf.
S Dyson
Director
Somerton MOT Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Somerton MOT Limited for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Somerton MOT Limited for the year ended 30 April 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Cochrane & Co Accountants Limited
Chartered Accountants
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
27 January 2025
Somerton MOT Limited
Registered number: 06088976
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 4,823 4,576
Current assets
Stocks 1,000 1,000
Debtors 5 15,068 17,179
Cash at bank and in hand 28,616 41,468
44,684 59,647
Creditors: amounts falling due within one year 6 (39,194) (39,208)
Net current assets 5,490 20,439
Total assets less current liabilities 10,313 25,015
Provisions for liabilities (881) (808)
Net assets 9,432 24,207
Capital and reserves
Called up share capital 100 100
Profit and loss account 9,332 24,107
Shareholders' funds 9,432 24,207
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Martin
Director
Approved by the board on 21 January 2025
Somerton MOT Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Goodwill has been written off over 10 years.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 100,000
At 30 April 2024 100,000
Amortisation
At 1 May 2023 100,000
At 30 April 2024 100,000
Net book value
At 30 April 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 19,975 4,855 24,830
Additions - 1,800 1,800
At 30 April 2024 19,975 6,655 26,630
Depreciation
At 1 May 2023 15,634 4,620 20,254
Charge for the year 868 685 1,553
At 30 April 2024 16,502 5,305 21,807
Net book value
At 30 April 2024 3,473 1,350 4,823
At 30 April 2023 4,341 235 4,576
5 Debtors 2024 2023
£ £
Trade debtors 15,068 17,179
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 17,246 16,790
Taxation and social security costs 16,112 16,828
Other creditors 5,836 5,590
39,194 39,208
7 Controlling party
The directors control the company.
8 Other information
Somerton MOT Limited is a private company limited by shares and incorporated in England. Its registered office is:
Somerton MOT Centre
6 Enterprise Way
Somerton Industrial Park
Cowes
PO31 8AP
Somerton MOT Limited 06088976 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 06088976 2022-05-01 2023-04-30 06088976 core:WithinOneYear 2023-04-30 06088976 core:ShareCapital 2023-04-30 06088976 core:RetainedEarningsAccumulatedLosses 2023-04-30 06088976 2023-05-01 2024-04-30 06088976 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06088976 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06088976 bus:Director1 2023-05-01 2024-04-30 06088976 bus:Director2 2023-05-01 2024-04-30 06088976 bus:CompanySecretary1 2023-05-01 2024-04-30 06088976 1 2023-05-01 2024-04-30 06088976 2 2023-05-01 2024-04-30 06088976 core:PlantMachinery 2023-05-01 2024-04-30 06088976 core:Vehicles 2023-05-01 2024-04-30 06088976 countries:England 2023-05-01 2024-04-30 06088976 bus:FRS102 2023-05-01 2024-04-30 06088976 bus:FilletedAccounts 2023-05-01 2024-04-30 06088976 2024-04-30 06088976 core:WithinOneYear 2024-04-30 06088976 core:ShareCapital 2024-04-30 06088976 core:RetainedEarningsAccumulatedLosses 2024-04-30 06088976 core:Goodwill 2024-04-30 06088976 core:PlantMachinery 2024-04-30 06088976 core:Vehicles 2024-04-30 06088976 2023-04-30 06088976 core:Goodwill 2023-04-30 06088976 core:PlantMachinery 2023-04-30 06088976 core:Vehicles 2023-04-30 iso4217:GBP xbrli:pure