1 August 2023 false Taxfiler 2024.6 03798574business:PrivateLimitedCompanyLtd2023-08-012024-07-31 037985742023-07-31 037985742023-08-012024-07-31 03798574business:AuditExemptWithAccountantsReport2023-08-012024-07-31 03798574business:FilletedAccounts2023-08-012024-07-31 037985742024-07-31 03798574business:Director12023-08-012024-07-31 03798574business:CompanySecretary12023-08-012024-07-31 03798574business:RegisteredOffice2023-08-012024-07-31 037985742023-07-31 03798574core:WithinOneYear2024-07-31 03798574core:WithinOneYear2023-07-31 03798574core:AfterOneYear2024-07-31 03798574core:AfterOneYear2023-07-31 03798574core:ShareCapitalcore:PreviouslyStatedAmount2024-07-31 03798574core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 03798574core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-07-31 03798574core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 03798574core:PreviouslyStatedAmount2024-07-31 03798574core:PreviouslyStatedAmount2023-07-31 03798574business:SmallEntities2023-08-012024-07-31 03798574countries:EnglandWales2023-08-012024-07-31 03798574core:PlantMachinery2023-08-012024-07-31 03798574core:MotorVehicles2023-08-012024-07-31 03798574core:FurnitureFittings2023-08-012024-07-31 03798574core:IntangibleAssetsOtherThanGoodwill2023-07-31 03798574core:IntangibleAssetsOtherThanGoodwill2024-07-31 03798574core:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-31 03798574core:PlantMachinery2023-07-31 03798574core:MotorVehicles2023-07-31 03798574core:FurnitureFittings2023-07-31 03798574core:PlantMachinery2024-07-31 03798574core:MotorVehicles2024-07-31 03798574core:FurnitureFittings2024-07-31 03798574core:MotorVehiclescore:LeasedAssetsHeldAsLessee2024-07-31 03798574core:MotorVehiclescore:LeasedAssetsHeldAsLessee2023-07-31 03798574core:AdditionsToInvestments2024-07-31 03798574core:RevaluationsIncreaseDecreaseInInvestments2024-07-31 03798574core:DisposalsRepaymentsInvestments2024-07-31 03798574core:AfterOneYear2023-08-012024-07-31 03798574core:AcceleratedTaxDepreciationDeferredTax2024-07-31 03798574core:AcceleratedTaxDepreciationDeferredTax2023-07-31 03798574core:TaxLossesCarry-forwardsDeferredTax2024-07-31 03798574core:TaxLossesCarry-forwardsDeferredTax2023-07-31 03798574core:OtherDeferredTax2024-07-31 03798574core:OtherDeferredTax2023-07-31 037985742022-07-31 037985742022-08-012023-07-31 03798574core:OtherProvisionsContingentLiabilities2023-07-31 03798574core:OtherProvisionsContingentLiabilities2023-08-012024-07-31 03798574core:OtherProvisionsContingentLiabilities2024-07-31 03798574core:BetweenOneFiveYears2024-07-31 03798574core:BetweenOneFiveYears2023-07-31 03798574business:Director112023-08-012024-07-31 03798574business:Director112023-07-31 03798574business:Director112024-07-31 iso4217:GBP xbrli:pure
Company Registration No. 03798574 (England and Wales)
AUTO GB LTD. Unaudited accounts for the year ended 31 July 2024
AUTO GB LTD. Unaudited accounts Contents
Page
- 2 -
AUTO GB LTD. Company Information for the year ended 31 July 2024
Director
Mr R.D.A. Johnson
Secretary
Mrs H. Karaman-Johnson
Company Number
03798574 (England and Wales)
Registered Office
Unit 12 Apollo Business Park Wroxton Oxfordshire OX15 6AY England
Accountants
Stephen Beard Accountancy Services 10 Cheshire Road Thame Oxon OX9 3LQ
- 3 -
AUTO GB LTD. Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,408 
1,879 
Tangible assets
153,100 
115,333 
Investments
35,000 
165,000 
189,508 
282,212 
Current assets
Debtors
59,621 
8,715 
Cash at bank and in hand
217,720 
144,131 
277,341 
152,846 
Creditors: amounts falling due within one year
(188,534)
(118,022)
Net current assets
88,807 
34,824 
Total assets less current liabilities
278,315 
317,036 
Creditors: amounts falling due after more than one year
(95,351)
(123,290)
Provisions for liabilities
Deferred tax
(15,945)
(21,507)
Other provisions
(4,800)
(2,400)
(20,745)
(23,907)
Net assets
162,219 
169,839 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
162,119 
169,739 
Shareholders' funds
162,219 
169,839 
For the year ending 31 July 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 director acknowledges his 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 and authorised for issue on 6 March 2025 and were signed on its behalf by
Mr R.D.A. Johnson Director Company Registration No. 03798574
- 4 -
AUTO GB LTD. Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
AUTO GB LTD. is a private company, limited by shares, registered in England and Wales, registration number 03798574. The registered office is Unit 12, Apollo Business Park, Wroxton, Oxfordshire, OX15 6AY, England.
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.
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.
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
25% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
20% Straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
- 5 -
AUTO GB LTD. Notes to the Accounts for the year ended 31 July 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Investments
Investments in classic cars are included at fair value.
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.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 August 2023
2,349 
At 31 July 2024
2,349 
Amortisation
At 1 August 2023
470 
Charge for the year
471 
At 31 July 2024
941 
Net book value
At 31 July 2024
1,408 
At 31 July 2023
1,879 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2023
68,309 
117,963 
- 
186,272 
Additions
9,533 
68,284 
675 
78,492 
Disposals
(8,500)
(12,754)
- 
(21,254)
At 31 July 2024
69,342 
173,493 
675 
243,510 
Depreciation
At 1 August 2023
42,037 
28,902 
- 
70,939 
Charge for the year
5,076 
28,636 
135 
33,847 
Surplus on revaluation
- 
(11,230)
- 
(11,230)
On disposals
(3,146)
- 
- 
(3,146)
At 31 July 2024
43,967 
46,308 
135 
90,410 
Net book value
At 31 July 2024
25,375 
127,185 
540 
153,100 
At 31 July 2023
26,272 
89,061 
- 
115,333 
- 6 -
AUTO GB LTD. Notes to the Accounts for the year ended 31 July 2024
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
59,410 
79,214 
6
Investments
Other investments 
£ 
Valuation at 1 August 2023
165,000 
Additions
15,000 
Fair value adjustments
(96,716)
Disposals
(48,284)
Valuation at 31 July 2024
35,000 
Historical cost of investments held £85,000 (2023- £118,284).
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
32,021 
1,250 
Accrued income and prepayments
11,718 
1,246 
Other debtors
15,882 
6,219 
59,621 
8,715 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,119 
9,870 
Obligations under finance leases and hire purchase contracts
17,823 
17,823 
Trade creditors
29,262 
22,843 
Taxes and social security
47,924 
2,224 
Other creditors
1,027 
22,250 
Loans from directors
- 
6,157 
Accruals
38,184 
2,845 
Deferred income
44,195 
34,010 
188,534 
118,022 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
15,660 
25,776 
Obligations under finance leases and hire purchase contracts
79,691 
97,514 
95,351 
123,290 
This facility is supported by the Bounce Back Loan Scheme (BBLS). The lender has a guarantee from the UK Government under BBLS. The loan is repayable over 5 years.
- 7 -
AUTO GB LTD. Notes to the Accounts for the year ended 31 July 2024
10
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
18,100 
18,252 
Tax losses carried forward
(2,155)
(5,621)
Other deferred taxation
- 
8,876 
15,945 
21,507 
2024 
2023 
£ 
£ 
Provision at start of year
21,507 
15,884 
(Credited)/charged to the profit and loss account
(5,562)
5,623 
Provision at end of year
15,945 
21,507 
11
Provisions for liabilities
£ 
At 1 August 2023
2,400 
Additional provisions made during the period
2,400 
At 31 July 2024
4,800 
Provision for dilapidation costs on leased premises.
12
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 July 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
19,530 
18,600 
Later than one year and not later than five years
- 
19,530 
19,530 
38,130 
13
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr R.D.A. Johnson
Director's loan account
- 
50,070 
37,506 
12,564 
- 
50,070 
37,506 
12,564 
14
Average number of employees
During the year the average number of employees was 5 (2023: 6).
- 8 -