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Registered number: 11927869
Pro Automotive Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Sempar Accountancy and Tax Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11927869
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,225 1,038
1,225 1,038
CURRENT ASSETS
Stocks 5 5,000 5,000
Debtors 6 36,834 45,666
Cash at bank and in hand 6,704 9,760
48,538 60,426
Creditors: Amounts Falling Due Within One Year 7 (30,467 ) (35,103 )
NET CURRENT ASSETS (LIABILITIES) 18,071 25,323
TOTAL ASSETS LESS CURRENT LIABILITIES 19,296 26,361
Creditors: Amounts Falling Due After More Than One Year 8 (17,881 ) (21,347 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (185 ) (196 )
NET ASSETS 1,230 4,818
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 1,130 4,718
SHAREHOLDERS' FUNDS 1,230 4,818
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kevin Hall
Director
Miss Kerry Eyre
Director
17 December 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pro Automotive Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11927869 . The registered office is Unit 7 Imex Business Park, Ormonde Street, Fenton, Stoke-On-Trent, ST4 3NP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 - 2,146 378 1,006 3,530
Additions 333 - - 366 699
As at 30 April 2024 333 2,146 378 1,372 4,229
Depreciation
As at 1 May 2023 - 1,413 137 942 2,492
Provided during the period 83 183 60 186 512
As at 30 April 2024 83 1,596 197 1,128 3,004
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 April 2024 250 550 181 244 1,225
As at 1 May 2023 - 733 241 64 1,038
5. Stocks
2024 2023
£ £
Materials 5,000 5,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 36,834 42,919
Prepayments and accrued income - 331
Corporation tax recoverable assets - 2,416
36,834 45,666
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,618 4,926
Bank loans and overdrafts 3,466 3,380
Corporation tax 3,077 1,917
VAT 7,833 8,444
Other creditors 68 -
Accruals and deferred income 345 204
Directors' loan accounts 10,060 16,232
30,467 35,103
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 17,881 21,347
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Dividends paid to directors during the year were £8,000 (2023: £4,000)
Page 4