Registered number
05305229
Alexander (Motor Services) Limited
Filleted Accounts
for the year ended
30 June 2024
Alexander (Motor Services) Limited
Registered number: 05305229
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,175 9,280
Current assets
Stocks 2,040 1,815
Debtors 4 30,040 21,180
Cash at bank and in hand 1,571,949 1,309,877
1,604,029 1,332,872
Creditors: amounts falling due within one year 5 (622,879) (539,078)
Net current assets 981,150 793,794
Net assets 988,325 803,074
Capital and reserves
Called up share capital 3 3
Profit and loss account 988,322 803,071
Shareholders' funds 988,325 803,074
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Alexander
Director
Approved by the board on 27 March 2025
Alexander (Motor Services) Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
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 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 recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
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 residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% per annum of net book value
Motor vehicles 25% per annum of net book value
Stocks
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 revenue is recognised.
Debtors
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 costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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 determined using the effective interest method.
Taxation
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 recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 July 2023 20,233 28,484 48,717
At 30 June 2024 20,233 28,484 48,717
Depreciation
At 1 July 2023 15,937 23,500 39,437
Charge for the year 859 1,246 2,105
At 30 June 2024 16,796 24,746 41,542
Net book value
At 30 June 2024 3,437 3,738 7,175
At 30 June 2023 4,296 4,984 9,280
4 Debtors 2024 2023
£ £
Trade debtors 28,975 20,573
Other debtors 1,065 607
30,040 21,180
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 100
Trade creditors 15,924 24,863
Taxation and social security costs 118,478 78,719
Other creditors 488,477 435,396
622,879 539,078
6 Other information
Alexander (Motor Services) Limited is a private company limited by shares and incorporated in England. Its registered office is:
32 Quorn Close
Loughborough
Leics
LE11 2AW
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