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REGISTERED NUMBER: 13186544 (England and Wales)
























Unaudited Financial Statements for the Year Ended 29 February 2024

for

Production Autos Limited

Production Autos Limited (Registered number: 13186544)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Production Autos Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: G H Shaw
N Adams





REGISTERED OFFICE: 14 Livesey Street
Manchester
M4 5HF





REGISTERED NUMBER: 13186544 (England and Wales)





ACCOUNTANTS: Craven Dalton
PO Box 284
Wirral
CH29 9GW

Production Autos Limited (Registered number: 13186544)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 394,935 178,378

CURRENT ASSETS
Debtors 5 121,654 54,815
Cash at bank and in hand 32,015 72,412
153,669 127,227
CREDITORS
Amounts falling due within one year 6 202,307 139,800
NET CURRENT LIABILITIES (48,638 ) (12,573 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

346,297

165,805

CREDITORS
Amounts falling due after more than one
year

7

(81,131

)

(9,916

)

PROVISIONS FOR LIABILITIES (13,366 ) (2,750 )
NET ASSETS 251,800 153,139

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 251,700 153,039
SHAREHOLDERS' FUNDS 251,800 153,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Production Autos Limited (Registered number: 13186544)

Balance Sheet - continued
29 February 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 24 February 2025 and were signed on its behalf by:





G H Shaw - Director


Production Autos Limited (Registered number: 13186544)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Production Autos 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 15% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Deferred tax
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.

Production Autos Limited (Registered number: 13186544)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2023 7,500 - 2,584
Additions - 24,639 2,634
Disposals - - -
At 29 February 2024 7,500 24,639 5,218
DEPRECIATION
At 1 March 2023 1,364 - 116
Charge for year 920 4,928 1,020
Eliminated on disposal - - -
At 29 February 2024 2,284 4,928 1,136
NET BOOK VALUE
At 29 February 2024 5,216 19,711 4,082
At 28 February 2023 6,136 - 2,468

Production Autos Limited (Registered number: 13186544)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 228,002 2,312 240,398
Additions 293,443 2,000 322,716
Disposals (20,414 ) - (20,414 )
At 29 February 2024 501,031 4,312 542,700
DEPRECIATION
At 1 March 2023 59,912 628 62,020
Charge for year 86,766 442 94,076
Eliminated on disposal (8,331 ) - (8,331 )
At 29 February 2024 138,347 1,070 147,765
NET BOOK VALUE
At 29 February 2024 362,684 3,242 394,935
At 28 February 2023 168,090 1,684 178,378

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 160,930
At 29 February 2024 160,930
DEPRECIATION
Charge for year 21,590
At 29 February 2024 21,590
NET BOOK VALUE
At 29 February 2024 139,340

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 115,354 54,815
Prepayments 6,300 -
121,654 54,815

Production Autos Limited (Registered number: 13186544)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other loans (see note 8) - 60,393
Hire purchase contracts 28,878 3,400
Trade creditors 6,593 14,502
Tax 56,186 33,736
Social security and other taxes 3,255 843
VAT 22,166 21,045
Directors' loan accounts 83,348 4,000
Accrued expenses 1,881 1,881
202,307 139,800

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 81,131 9,916

8. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due within one year or on demand:
Other loans - 60,393

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 110,009 13,316

The hire purchase liability is secured on the asset concerned.