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COMPANY REGISTRATION NUMBER: 13309027
A.C. AUTOS - REMAPPING, SERVICES AND REPAIRS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2024
A.C. AUTOS - REMAPPING, SERVICES AND REPAIRS LTD
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
16,346
12,410
CURRENT ASSETS
Debtors
6
4,394
2,570
Cash at bank and in hand
9,942
9,608
--------
--------
14,336
12,178
CREDITORS: amounts falling due within one year
7
50,329
49,391
--------
--------
NET CURRENT LIABILITIES
35,993
37,213
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 19,647)
( 24,803)
CREDITORS: amounts falling due after more than one year
8
9,749
--------
--------
NET LIABILITIES
( 29,396)
( 24,803)
--------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
1
1
Profit and loss account
( 29,397)
( 24,804)
--------
--------
SHAREHOLDERS DEFICIT
( 29,396)
( 24,803)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
A.C. AUTOS - REMAPPING, SERVICES AND REPAIRS LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 27 January 2025 , and are signed on behalf of the board by:
Mr A Chapman
Director
Company registration number: 13309027
A.C. AUTOS - REMAPPING, SERVICES AND REPAIRS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1B Rectory Road Business Centre, Rectory Road, Rushden, Northamptonshire, NN10 0AG.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling,which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation . Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 May 2023
24,520
300
24,820
Additions
13,522
13,522
--------
--------
----
--------
At 30 April 2024
24,520
13,522
300
38,342
--------
--------
----
--------
Depreciation
At 1 May 2023
12,260
150
12,410
Charge for the year
6,130
3,381
75
9,586
--------
--------
----
--------
At 30 April 2024
18,390
3,381
225
21,996
--------
--------
----
--------
Carrying amount
At 30 April 2024
6,130
10,141
75
16,346
--------
--------
----
--------
At 30 April 2023
12,260
150
12,410
--------
--------
----
--------
6. DEBTORS
2024
2023
£
£
Trade debtors
4,394
2,570
-------
-------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,610
Trade creditors
13,332
14,604
Social security and other taxes
11,408
10,015
Other creditors
23,979
24,772
--------
--------
50,329
49,391
--------
--------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
765
Other creditors
8,984
-------
----
9,749
-------
----
9. GOING CONCERN
The director has considered the period to 31 January 2026 when assessing the company's ability to continue as a going concern. It is believed that the company will be able to satisfy its liabilities as these become payable.