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Registered number: 11989884
Tunbridge Wells MOT Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Mathieson Associates Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11989884
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 561,706 567,435
561,706 567,435
CURRENT ASSETS
Debtors 5 51,469 173,086
Cash at bank and in hand 56,810 45,665
108,279 218,751
Creditors: Amounts Falling Due Within One Year 6 (171,240 ) (182,506 )
NET CURRENT ASSETS (LIABILITIES) (62,961 ) 36,245
TOTAL ASSETS LESS CURRENT LIABILITIES 498,745 603,680
Creditors: Amounts Falling Due After More Than One Year 7 (449,000 ) (556,250 )
NET ASSETS 49,745 47,430
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 49,743 47,428
SHAREHOLDERS' FUNDS 49,745 47,430
Page 1
Page 2
For the year ending 31 May 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 Tamas Szekfi
Director
13/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Tunbridge Wells MOT Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11989884 . The registered office is Suite 6, 9 Sybron Way, Crowborough, East Sussex, TN6 3DZ.
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:
Freehold Considered an appreciating asset
Plant & Machinery 25% Reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 June 2023 523,413 78,339 601,752
Additions - 7,035 7,035
As at 31 May 2024 523,413 85,374 608,787
Depreciation
As at 1 June 2023 - 34,317 34,317
Provided during the period - 12,764 12,764
As at 31 May 2024 - 47,081 47,081
Net Book Value
As at 31 May 2024 523,413 38,293 561,706
As at 1 June 2023 523,413 44,022 567,435
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 35,424 80,259
VAT - 85,370
Directors' loan accounts 16,045 7,457
51,469 173,086
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 18,903 18,901
Bank loans and overdrafts 1,170 -
Corporation tax 43,227 19,280
VAT 17,535 -
Other creditors 90,405 144,325
171,240 182,506
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 449,000 556,250
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Nicholas Wall 3,000 4,008 - - 7,008
Mr Tamas Szekfi 4,457 5,010 - - 9,037
The above loan is unsecured, interest free and repayable on demand.
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