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REGISTERED NUMBER: 06264559 (England and Wales)















Auto Repairs (Horwich) Limited

Unaudited Financial Statements for the Year Ended 31 May 2024






Auto Repairs (Horwich) Limited (Registered number: 06264559)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Auto Repairs (Horwich) Limited

Company Information
for the Year Ended 31 May 2024







Directors: Kevin Smith
Susan Jane Smith





Secretary: Susan Jane Smith





Registered office: Unit 11
Pearl Brook Industrial Estate
Horwich
Bolton
BL6 5PX





Registered number: 06264559 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Auto Repairs (Horwich) Limited (Registered number: 06264559)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 75,000 75,000
Tangible assets 5 1,966 2,458
76,966 77,458

Current assets
Stocks 1,000 1,500
Debtors 6 2,953 15,806
Cash at bank and in hand 50,049 41,360
54,002 58,666
Creditors
Amounts falling due within one year 7 75,583 68,443
Net current liabilities (21,581 ) (9,777 )
Total assets less current liabilities 55,385 67,681

Provisions for liabilities 8 374 467
Net assets 55,011 67,214

Auto Repairs (Horwich) Limited (Registered number: 06264559)

Statement of Financial Position - continued
31 May 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 9 100 100
Retained earnings 54,911 67,114
Shareholders' funds 55,011 67,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





Kevin Smith - Director


Auto Repairs (Horwich) Limited (Registered number: 06264559)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. Statutory information

Auto Repairs (Horwich) 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.

Turnover
Turnover represents the total value, excluding value added tax, of repairs and servicing of motor vehicles carried out by the company during the year.

Goodwill
Amortisation of goodwill has not been provided for by the company, as in the opinion of the directors it has indefinite useful economic life. The accounting policy departs from the usual requirements of FRS 102 to amortise goodwill over a finite period. The effect of the departure is that amortisation as required by the requirements of FRS 102 has not been accounted for. If amortisation has been accounted for the charge for the year would have amounted to £7,500 and profit for the year reduced accordingly.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stock is measured at estimated cost.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


Auto Repairs (Horwich) Limited (Registered number: 06264559)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. Accounting policies - continued
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3. Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 June 2023
and 31 May 2024 75,000
Net book value
At 31 May 2024 75,000
At 31 May 2023 75,000

Auto Repairs (Horwich) Limited (Registered number: 06264559)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. Tangible fixed assets
Plant and
machinery
£   
Cost
At 1 June 2023
and 31 May 2024 13,767
Depreciation
At 1 June 2023 11,309
Charge for year 492
At 31 May 2024 11,801
Net book value
At 31 May 2024 1,966
At 31 May 2023 2,458

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 2,953 15,806

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 13,756 6,832
Taxation and social security 33,708 38,234
Other creditors 28,119 23,377
75,583 68,443

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax 374 467

Auto Repairs (Horwich) Limited (Registered number: 06264559)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 June 2023 467
Credit to Statement of Income and Retained Earnings during year (93 )
Balance at 31 May 2024 374

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares 1.00 100 100