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Company Registration No. 1333857 (England and Wales)
Automec Equipment & Parts Limited Unaudited accounts for the year ended 31 December 2024
Automec Equipment & Parts Limited Unaudited accounts Contents
Page
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Automec Equipment & Parts Limited Company Information for the year ended 31 December 2024
Directors
Mrs V J Smith J P Smith
Secretary
Mrs V J smith
Company Number
1333857 (England and Wales)
Registered Office
36 Ballmoor Buckingham Industrial Park Buckingham Buckinghamshire MK18 1RQ
Accountants
Anthistle Craven Moreton House 31 High Street Buckingham Bucks MK18 1NU
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Automec Equipment & Parts Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
34,817 
43,359 
Current assets
Inventories
182,081 
168,147 
Debtors
49,177 
53,364 
Cash at bank and in hand
516,540 
453,569 
747,798 
675,080 
Creditors: amounts falling due within one year
(140,820)
(116,115)
Net current assets
606,978 
558,965 
Total assets less current liabilities
641,795 
602,324 
Provisions for liabilities
Deferred tax
(8,704)
(9,727)
Net assets
633,091 
592,597 
Capital and reserves
Called up share capital
5,000 
5,000 
Profit and loss account
628,091 
587,597 
Shareholders' funds
633,091 
592,597 
For the year ending 31 December 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
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
J P Smith Director Company Registration No. 1333857
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Automec Equipment & Parts Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Automec Equipment & Parts Limited is a private company, limited by shares, registered in England and Wales, registration number 1333857. The registered office is 36 Ballmoor, Buckingham Industrial Park, Buckingham, Buckinghamshire, MK18 1RQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Motor vehicles
20% on cost
Computer equipment
33% on cost
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Automec Equipment & Parts Limited Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2024
57,744 
51,172 
- 
13,009 
121,925 
Additions
- 
- 
203 
- 
203 
Disposals
(6,902)
- 
- 
(773)
(7,675)
At 31 December 2024
50,842 
51,172 
203 
12,236 
114,453 
Depreciation
At 1 January 2024
55,491 
10,234 
- 
12,841 
78,566 
Charge for the year
451 
8,188 
51 
55 
8,745 
On disposals
(6,902)
- 
- 
(773)
(7,675)
At 31 December 2024
49,040 
18,422 
51 
12,123 
79,636 
Net book value
At 31 December 2024
1,802 
32,750 
152 
113 
34,817 
At 31 December 2023
2,253 
40,938 
- 
168 
43,359 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
5,950 
- 
Trade debtors
43,227 
53,364 
49,177 
53,364 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
15,148 
Trade creditors
91,238 
66,900 
Taxes and social security
34,281 
18,811 
Accruals
15,301 
15,256 
140,820 
116,115 
7
Average number of employees
During the year the average number of employees was 6 (2023: 6).
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