WITNEY MOT CENTRE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MAY 2024
Company Registration Number: 13201335
WITNEY MOT CENTRE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
CONTENTS PAGES
Company information 1
Balance sheet 2
Notes to the financial statements 3 to 5
WITNEY MOT CENTRE LTD
COMPANY INFORMATION
FOR THE PERIOD ENDED 31 MAY 2024
DIRECTORS
M J Hatton
S M Hatton
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
6 Minster Industrial Park
Downs Road
Witney
Oxon
OX29 0QS
COMPANY REGISTRATION NUMBER
13201335 England and Wales
WITNEY MOT CENTRE LTD
BALANCE SHEET
AS AT 31 MAY 2024
Notes 31/05/2024 28/02/2023
£ £
CURRENT ASSETS
Debtors 5 40,252 -
Cash at bank and in hand 8,808 4
49,060 4
CREDITORS: Amounts falling due within one year 6 41,582 -
NET CURRENT ASSETS 7,478 4
NET ASSETS 7,478 4
CAPITAL AND RESERVES
Called up share capital 4 4
Distributable profit and loss account 7,474 -
SHAREHOLDERS' FUNDS 7,478 4
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial period ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
M J Hatton
Director
Date approved by the board: 20 February 2025
WITNEY MOT CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
1 GENERAL INFORMATION
Witney MOT Centre Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
6 Minster Industrial Park
Downs Road
Witney
Oxon
OX29 0QS
The company started to trade on 1 March 2023.
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of MOT tests and associated vehicle repair services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
WITNEY MOT CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the period was:
31/05/2024 28/02/2023
Average number of employees 2 3
5 DEBTORS
31/05/2024 28/02/2023
£ £
Trade debtors 38,842 -
Other debtors 1,410 -
40,252 -
WITNEY MOT CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
6 CREDITORS: Amounts falling due within one year
31/05/2024 28/02/2023
£ £
Taxation and social security 1,753 -
Accruals and deferred income 1,000 -
Other creditors 38,829 -
41,582 -
7 DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The following directors' advances, credits and guarantees took place during the period:
Balance at 1 March 2023 Amounts advanced Amounts repaid Amounts written off or waived Balance at 31 May 2024
£ £ £ £ £
M J Hatton - 2 - - 2
S M Hatton - 2 - - 2
- 4 - - 4
These advances are interest free and repayable on demand.
8 RELATED PARTY TRANSACTIONS
During the period, the following transactions with related parties took place:
C&C Tyre and Exhaust Services Ltd
Connected undertaking 31/05/2024 28/02/2023
£ £
Amount owed to connected undertaking 20,829 -
LBN Holdings Ltd
Connected undertaking 31/05/2024 28/02/2023
£ £
Amount owed to connected undertaking 18,000 -
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