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Registered Number: 07059493
England and Wales

 

 

 

AVALON CARS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Avalon Cars Limited for the year ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Avalon Cars Limited for the year ended 30 September 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance This report is made solely to the Board of Directors of Avalon Cars Limited, as a body, in accordance with the terms of our engagement letter.

Our work has been undertaken solely to prepare for your approval the accounts of Avalon Cars Limited and state those matters that we have agreed to state to the Board of Directors of Avalon Cars Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Avalon Cars Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Avalon Cars Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Avalon Cars Limited. You consider that Avalon Cars Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Avalon Cars Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the year ended 30 September 2024.






....................................................

Chawton Hector

2 Maules Gardens
Bristol
Avon
BS34 8AN

26 February 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 30,975    39,562 
30,975    39,562 
Current assets      
Stocks 130,550    69,808 
Debtors 20,941    8,103 
Cash at bank and in hand 180,343    149,337 
331,834    227,248 
Creditors: amount falling due within one year (120,579)   (103,225)
Net current assets 211,255    124,023 
 
Total assets less current liabilities 242,230    163,585 
Creditors: amount falling due after more than one year (7,801)   (10,918)
Net assets 234,429    152,667 
 

Capital and reserves
     
Called up share capital 4 77    76 
Capital Redemption Reserve 26    26 
Profit and loss account 234,326    152,565 
Shareholders' funds 234,429    152,667 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 26 February 2025 and were signed on its behalf by:


-------------------------------
N P Fisher
Director
2
General Information
Avalon Cars Limited is a private company, limited by shares, registered in England and Wales, registration number 07059493, registration address Unit 6 , Bellman Gate Sywell Aerodrome, Holcot Lane, Sywell, NN6 0BL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
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 33.33% Reducing Balance
Motor Vehicles 33.33% Reducing Balance
Computer Equipment 33.33% Reducing Balance
Stocks
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.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 7).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 October 2023 34,872    53,828    1,685    90,385 
Additions 1,272      287    1,559 
Disposals      
At 30 September 2024 36,144    53,828    1,972    91,944 
Depreciation
At 01 October 2023 26,748    23,031    1,044    50,823 
Charge for year 2,833    6,905    408    10,146 
On disposals      
At 30 September 2024 29,581    29,936    1,452    60,969 
Net book values
Closing balance as at 30 September 2024 6,563    23,892    520    30,975 
Opening balance as at 01 October 2023 8,124    30,797    641    39,562 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
75 Ordinary shares of £1.00 each 75    75 
1 B Ordinary share of £1.00 each  
1 C Ordinary share of £1.00 each  
77    76 

3