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REGISTERED NUMBER: 02103952 (England and Wales)















CAR BODY (BANBURY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CAR BODY (BANBURY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr I M Durham
Mr P W Smith
Mr L W Smith





SECRETARY: Mr P W Smith





REGISTERED OFFICE: Thorpe Lane
Overthorpe Industrial Estate
Banbury
Oxfordshire
OX16 4UT





REGISTERED NUMBER: 02103952 (England and Wales)





ACCOUNTANTS: Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH

CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 336,794 327,591
Investments 5 17,500 17,500
354,294 345,091

CURRENT ASSETS
Stocks 23,562 12,913
Debtors 6 714,474 855,355
Cash at bank and in hand 1,115,379 751,810
1,853,415 1,620,078
CREDITORS
Amounts falling due within one year 7 852,403 676,617
NET CURRENT ASSETS 1,001,012 943,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,355,306

1,288,552

PROVISIONS FOR LIABILITIES 43,760 39,890
NET ASSETS 1,311,546 1,248,662

CAPITAL AND RESERVES
Called up share capital 9 100 100
Share premium 35,952 35,952
Retained earnings 1,275,494 1,212,610
SHAREHOLDERS' FUNDS 1,311,546 1,248,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952)

BALANCE SHEET - continued
30 APRIL 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





Mr L W Smith - Director


CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Car Body (Banbury) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is rounded to the nearest pound sterling (£).

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of vehicle parts is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of goods.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from labour services is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property improvements - 10% on cost and 2% on cost
Plant and machinery - 20% on cost and 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Rent receivable
Rent receivable under operating leases is charged to the profit and loss account on a straight line basis over the period of the lease.

Fixed asset investments
Investments held as fixed assets are stated at cost, together with subsequent capital contributions, less any provisions for impairment in value.

Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the fixed asset investment.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 30 ) .

CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Leasehold Fixtures
property Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 May 2023 285,277 369,985 115,079
Additions - 53,329 4,135
At 30 April 2024 285,277 423,314 119,214
DEPRECIATION
At 1 May 2023 117,197 295,466 84,978
Charge for year 6,282 19,472 8,238
At 30 April 2024 123,479 314,938 93,216
NET BOOK VALUE
At 30 April 2024 161,798 108,376 25,998
At 30 April 2023 168,080 74,519 30,101

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 129,171 68,177 967,689
Additions 8,450 1,179 67,093
At 30 April 2024 137,621 69,356 1,034,782
DEPRECIATION
At 1 May 2023 85,703 56,754 640,098
Charge for year 17,091 6,807 57,890
At 30 April 2024 102,794 63,561 697,988
NET BOOK VALUE
At 30 April 2024 34,827 5,795 336,794
At 30 April 2023 43,468 11,423 327,591

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 17,500
NET BOOK VALUE
At 30 April 2024 17,500
At 30 April 2023 17,500

CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 303,581 341,751
Amounts recoverable on contract 133,008 180,471
Other debtors 61,338 24,085
Prepayments 71,047 64,048
568,974 610,355

Amounts falling due after more than one year:
Other debtors 145,500 245,000

Aggregate amounts 714,474 855,355

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 461,326 419,880
Tax 104,277 57,506
Social security and other taxes 21,723 21,810
VAT 106,190 81,619
Other creditors 62,881 54,843
Accrued expenses 96,006 40,959
852,403 676,617

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 52,500 58,077
Between one and five years 26,250 78,750
78,750 136,827

There is a break clause in the property lease agreement. It is a ten year lease with a five year break.

The company has other property leases but are not considered to be lease commitments, a maximum of three months notice is required to cease these leases.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

CAR BODY (BANBURY) LIMITED (REGISTERED NUMBER: 02103952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. CONTINGENT LIABILITIES

There is an ongoing tax investigation by HM Revenue & Customs into partnership loss relief claimed by the company in respect of their investment in Altenau Developments LLP. The enquiry commenced on 8 September 2015. No provision has been made in these financial statements in respect of additional tax liabilities which may arise as a result of the investigation because the directors consider the defence will be successful.

11. RELATED PARTY DISCLOSURES

It is considered that all related party transactions have been concluded under normal market conditions and therefore no disclosure is required.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr L W Smith by virtue of his shareholding.