Registered number
04636409
AWB Motor Co Ltd
Filleted Accounts
30 April 2024
Gatley Read
Chartered Accountants
18/19 Salmon Fields Business Village
Royton
Oldham
OL2 6HT
AWB Motor Co Ltd
Registered number: 04636409
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 263,265 266,580
Current assets
Stocks 913,100 1,004,498
Debtors 5 25,550 30,910
Cash at bank and in hand 231,174 68,914
1,169,824 1,104,322
Creditors: amounts falling due within one year 6 (136,564) (138,624)
Net current assets 1,033,260 965,698
Total assets less current liabilities 1,296,525 1,232,278
Creditors: amounts falling due after more than one year 7 (8,777) (18,795)
Net assets 1,287,748 1,213,483
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,287,648 1,213,383
Shareholders' funds 1,287,748 1,213,483
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.
A Bracegirdle
Director
Approved by the board on 27 January 2025
AWB Motor Co Ltd
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.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 1% reducing balance basis
Leasehold land and buildings 10% reducing balance basis
Plant and machinery 15% reducing balance basis
Fixtures, fittings, tools and equipment 15% reducing balance basis
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 10 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 41,000
At 30 April 2024 41,000
Amortisation
At 1 May 2023 41,000
At 30 April 2024 41,000
Net book value
At 30 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 288,460 3,373 14,672 306,505
At 30 April 2024 288,460 3,373 14,672 306,505
Depreciation
At 1 May 2023 24,846 3,205 11,874 39,925
Charge for the year 2,870 25 420 3,315
At 30 April 2024 27,716 3,230 12,294 43,240
Net book value
At 30 April 2024 260,744 143 2,378 263,265
At 30 April 2023 263,614 168 2,798 266,580
5 Debtors 2024 2023
£ £
Trade debtors 25,550 30,910
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,925 9,925
Trade creditors - 10,068
Taxation and social security costs 81,500 85,053
Other creditors 45,139 33,578
136,564 138,624
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,777 18,795
8 Other information
AWB Motor Co Ltd is a private company limited by shares and incorporated in England. Its registered office is:
18/19 Salmon Fields
Business Village
Royton
Oldham OL2 6HT
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