Registered Number:03794991 |
For the year ended 30 June 2024
England and Wales
Unaudited Financial Statements
For the year ended 30 June 2024
Avco Motors Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Avco Motors Limited
Statement of Financial Position
2023
2024
Property, plant and equipment |
11,250
13,756
2
11,250
13,756
1,300
1,300
3
Trade and other receivables |
7,284
11,249
4
165,054
Cash and cash equivalents |
142,146
154,695
173,638
Trade and other payables: amounts falling due within one |
year |
(64,761)
(51,295)
5
108,877
103,400
Net current assets
Total assets less current liabilities |
114,650
122,633
114,650
Net assets
122,633
1,000
1,000
113,650
121,633
114,650
122,633
Shareholders' funds
For the year ended 30 June 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 of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 03 December 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 30 June 2024
Avco Motors Limited
Notes to the Financial Statements
Statutory Information
Avco Motors Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 03794991. |
Unit 1 rear of Snoxalls Garage
559 London Road
Boxmoor
Hemel Hempstead
HP1 2RE
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Computer equipment
Motor vehicles
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 4
For the year ended 30 June 2024
Avco Motors Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
Motor vehicles
117,649
3,739
6,901
13,295
93,714
1,119
-
-
-
1,119
13,295
6,901
3,739
118,768
94,833
Provision for depreciation and impairment |
103,893
3,511
6,774
7,313
86,295
Charge for year
3,625
56
32
1,403
2,134
107,518
3,567
6,806
8,716
88,429
6,404
4,579
95
172
11,250
7,419
5,982
127
228
13,756
2023
2024
1,300
1,300
4. Trade and other receivables |
2023
2024
11,249
7,283
-
1
7,284
11,249
5. Trade and other payables: amounts falling due within one year |
2023
2024
22,594
24,386
Taxation and social security |
27,193
38,875
1,508
1,500
51,295
64,761
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For the year ended 30 June 2024
Avco Motors Limited
Notes to the Financial Statements Continued
6. Average number of persons employed |
During the year the average number of employees was 6 (2023 : 6)
4 of 4