ANDY MOT CENTRE LTD |
Notes to the Accounts |
for the year ended 31 May 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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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 from the sale of goods is reco |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated re |
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Freehold buildings |
over 50 years |
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Leasehold land and buildings |
over the lease term |
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Plant and machinery |
over 5 years |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reli |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction cost |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost deter |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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 |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary ite |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Exceptional items |
2024 |
|
2023 |
£ |
£ |
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- |
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- |
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3 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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4 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 June 2023 |
- |
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Additions |
- |
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Disposals |
- |
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At 31 May 2024 |
- |
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Amortisation |
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At 1 June 2023 |
- |
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Provided during the year |
- |
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On disposals |
- |
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At 31 May 2024 |
- |
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Net book value |
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At 31 May 2024 |
- |
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At 31 May 2023 |
- |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
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5 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery etc |
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Motor vehicles |
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Total |
£ |
£ |
£ |
£ |
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Cost |
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At 1 June 2023 |
- |
|
26,609 |
|
- |
|
26,609 |
|
Additions |
- |
|
- |
|
- |
|
- |
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Surplus on revaluation |
- |
|
- |
|
- |
|
- |
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Disposals |
- |
|
- |
|
- |
|
- |
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At 31 May 2024 |
- |
|
26,609 |
|
- |
|
26,609 |
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Depreciation |
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At 1 June 2023 |
- |
|
16,522 |
|
- |
|
16,522 |
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Charge for the year |
- |
|
5,322 |
|
- |
|
5,322 |
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Surplus on revaluation |
- |
|
- |
|
- |
|
- |
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On disposals |
- |
|
- |
|
- |
|
- |
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At 31 May 2024 |
- |
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21,844 |
|
- |
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21,844 |
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Net book value |
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At 31 May 2024 |
- |
|
4,765 |
|
- |
|
4,765 |
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At 31 May 2023 |
- |
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10,087 |
|
- |
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10,087 |
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Freehold land and buildings: |
2024 |
|
2023 |
£ |
£ |
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Historical cost |
- |
|
- |
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Cumulative depreciation based on historical cost |
- |
|
- |
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|
|
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|
- |
|
- |
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[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of |
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6 |
Investments |
Investments in |
subsidiary |
Other |
undertakings |
investments |
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 June 2023 |
- |
|
- |
|
- |
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Additions |
- |
|
- |
|
- |
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Revaluation |
- |
|
- |
|
- |
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Disposals |
- |
|
- |
|
- |
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At 31 May 2024 |
- |
|
- |
|
- |
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Historical cost |
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At 1 June 2023 |
- |
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- |
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At 31 May 2024 |
- |
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- |
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[For revalued investments, see FRS 102 paragraphs 1AC.15, 1AC.22 and 1AC.23 for disclosures] |
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7 |
Debtors |
2024 |
|
2023 |
£ |
£ |
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Trade debtors |
850 |
|
1,250 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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|
- |
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- |
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Deferred tax asset |
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- |
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- |
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Other debtors |
- |
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- |
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850 |
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1,250 |
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Amounts due after more than one year included above |
- |
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- |
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8 |
Investments held as current assets |
2024 |
|
2023 |
£ |
£ |
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Fair value |
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Listed investments |
- |
|
- |
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Unlisted investments |
- |
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- |
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- |
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- |
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Increase/(decrease) in fair value included in the profit and loss account for the financial year |
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Listed investments |
- |
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- |
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Unlisted investments |
- |
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- |
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|
- |
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- |
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[For revalued investments, see FRS 102 paragraphs 1AC.22 and 1AC.23 for disclosures] |
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9 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
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Non-equity preference shares |
- |
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- |
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Bank loans and overdrafts |
- |
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- |
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Obligations under finance lease and hire purchase contracts |
- |
|
- |
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Trade creditors |
15,686 |
|
33,172 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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|
- |
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- |
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Taxation and social security costs |
- |
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- |
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Other creditors |
- |
|
- |
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15,686 |
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33,172 |
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10 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
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Non-equity preference shares |
- |
|
- |
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Bank loans |
2,833 |
|
4,647 |
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Obligations under finance lease and hire purchase contracts |
- |
|
- |
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Trade creditors |
- |
|
- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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|
- |
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- |
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Other creditors |
41,328 |
|
26,688 |
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44,161 |
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31,335 |
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11 |
Loans |
2024 |
|
2023 |
£ |
£ |
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Creditors include: |
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Amounts payable otherwise than by instalment falling due for payment after more than five years |
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- |
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- |
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Instalments falling due for payment after more than five years |
- |
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- |
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- |
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- |
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Secured bank loans |
- |
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- |
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[Give an indication of the nature and form of the security for the bank loans] |
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12 |
Revaluation reserve |
2024 |
|
2023 |
£ |
£ |
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At 1 June 2023 |
- |
|
- |
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Gain on revaluation of land and buildings |
- |
|
- |
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Deferred taxation arising on the revaluation of land and buildings |
- |
|
- |
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At 31 May 2024 |
- |
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- |
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13 |
Events after the reporting date |
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14 |
Capital commitments |
2024 |
|
2023 |
£ |
£ |
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Amounts contracted for but not provided in the accounts |
- |
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- |
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15 |
Pension commitments |
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16 |
Other financial commitments |
2024 |
|
2023 |
£ |
£ |
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Total future minimum payments under non-cancellable operating leases |
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|
- |
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- |
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17 |
Contingent liabilities |
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18 |
Off-balance sheet arrangements |
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19 |
Loans to directors |
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Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
[Director 1] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
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[Loan 2] |
- |
|
- |
|
- |
|
- |
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[Director 2] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
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[Loan 2] |
- |
|
- |
|
- |
|
- |
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|
[Director 3] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
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[Loan 2] |
- |
|
- |
|
- |
|
- |
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[Director 4] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
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[Loan 2] |
- |
|
- |
|
- |
|
- |
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|
[Director 5] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
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|
[Director 6] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
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[Director 7] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
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|
[Director 8] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
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|
[Director 9] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
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[Loan 2] |
- |
|
- |
|
- |
|
- |
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|
- |
|
- |
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- |
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- |
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20 |
Guarantees made by the company on behalf of directors |
|
Main terms |
Maximum |
Amount paid |
liability |
and incurred |
£ |
£ |
|
[Director 1] |
|
[Guarantee 1] |
|
|
- |
|
- |
|
[Guarantee 2] |
|
|
- |
|
- |
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|
[Director 2] |
|
[Guarantee 1] |
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|
- |
|
- |
|
[Guarantee 2] |
|
|
- |
|
- |
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[Director 3] |
|
[Guarantee 1] |
|
|
- |
|
- |
|
[Guarantee 2] |
|
|
- |
|
- |
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|
[Director 4] |
|
[Guarantee 1] |
|
|
- |
|
- |
|
[Guarantee 2] |
|
|
- |
|
- |
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|
[Director 5] |
|
[Guarantee 1] |
|
|
- |
|
- |
|
[Guarantee 2] |
|
|
- |
|
- |
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|
[Director 6] |
|
[Guarantee 1] |
|
|
- |
|
- |
|
[Guarantee 2] |
|
|
- |
|
- |
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|
[Director 7] |
|
[Guarantee 1] |
|
|
- |
|
- |
|
[Guarantee 2] |
|
|
- |
|
- |
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|
[Director 8] |
|
[Guarantee 1] |
|
|
- |
|
- |
|
[Guarantee 2] |
|
|
- |
|
- |
|
|
[Director 9] |
|
[Guarantee 1] |
|
|
- |
|
- |
|
[Guarantee 2] |
|
|
- |
|
- |
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|
- |
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- |
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21 |
Related party transactions |
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22 |
Controlling party |
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23 |
Other information |
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ANDY MOT CENTRE LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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11 Temple street |
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Hull |
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East riding of yorkshire |
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HU5 1AD |