AutoRim Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05300055

AutoRim Limited

Filleted Unaudited Financial Statements

7 August 2024

AutoRim Limited

Financial Statements

Year Ended 7 August 2024

Contents	Page

Officers and Professional Advisers	1

Statement of Financial Position	2

Notes to the Financial Statements	4

AutoRim Limited

Officers and Professional Advisers

The Board of Directors	P J Hindson
	A F Hindson
	J Hindson
	D S Watson

Company Secretary	A F Hindson

Registered Office	Unit 6 Botany Business Park
	Macclesfield Road
	Whaley Bridge
	Cheshire
	SK23 7DQ

Accountants	Downham Mayer Clarke Limited
	Chartered Accountants
	41 Greek Street
	Stockport
	Cheshire
	SK3 8AX

AutoRim Limited

Statement of Financial Position

7 August 2024

	2024		2023
Note	£	£	£

Fixed Assets

Tangible assets	5		18,753	29,181

Current Assets

Stocks		67,300	84,500
Debtors	6	244,875	351,915
Investments	7	70	70
Cash at bank and in hand		332,328	389,946
		---------	---------
		644,573	826,431

Creditors: amounts falling due within one year	8	240,280		239,822
		---------		---------
Net Current Assets			404,293	586,609
			---------	---------
Total Assets Less Current Liabilities			423,046	615,790

Creditors: amounts falling due after more than one year	9	19,067	29,926
		---------	---------
Net Assets		403,979	585,864
		---------	---------

Capital and Reserves

Called up share capital	500	500
Profit and loss account	403,479	585,364
	---------	---------
Shareholders Funds	403,979	585,864
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 7 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

AutoRim Limited

Statement of Financial Position (continued)

7 August 2024

These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:

P J Hindson

Director

Company registration number: 05300055

AutoRim Limited

Notes to the Financial Statements

Year Ended 7 August 2024

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 6 Botany Business Park, Macclesfield Road, Whaley Bridge, Cheshire, SK23 7DQ.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Long Term Contracts

Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Foreign Currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Improvements to property	-	15% reducing balance
Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% straight line

	Computer equipment	-	15% reducing balance

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined Contribution Plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 4 (2023: 5 ).

5. Tangible Assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 8 Aug 2023	1,835	37,913	23,493	10,334	36,978	110,553
Additions	–	–	–	13,500	–	13,500
Disposals	( 1,835)	( 28,913)	( 21,903)	( 10,334)	( 33,300)	( 96,285)
	-------	--------	--------	--------	--------	---------
At 7 Aug 2024	–	9,000	1,590	13,500	3,678	27,768
	-------	--------	--------	--------	--------	---------
Depreciation
At 8 Aug 2023	1,835	26,433	20,244	2,583	30,277	81,372
Charge for the year	–	1,800	115	3,375	552	5,842
Disposals	( 1,835)	( 24,633)	( 19,422)	( 2,583)	( 29,726)	( 78,199)
	-------	--------	--------	--------	--------	---------
At 7 Aug 2024	–	3,600	937	3,375	1,103	9,015
	-------	--------	--------	--------	--------	---------
Carrying amount
At 7 Aug 2024	–	5,400	653	10,125	2,575	18,753
	-------	--------	--------	--------	--------	---------
At 7 Aug 2023	–	11,480	3,249	7,751	6,701	29,181
	-------	--------	--------	--------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	29,044	132,936
Amounts owed by group undertakings and undertakings in which the company has a participating interest	137,132	215,979
Other debtors	78,699	3,000
	---------	---------
	244,875	351,915
	---------	---------

7. Investments

	2024	2023
	£	£
Other investments	70	70
	----	----

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	10,082	38,164
Amounts owed to group undertakings and undertakings in which the company has a participating interest	50,000	–
Corporation tax	12,212	18,113
Social security and other taxes	1,156	6,680
Other creditors	–	1,370
Other creditors	166,830	175,495
	---------	---------
	240,280	239,822
	---------	---------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	19,067	29,926
	--------	--------

10. Directors' Advances, Credits and Guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
P J Hindson	( 743)	76,442	75,699
	----	--------	--------

	2023
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
P J Hindson	( 780)	37	( 743)
	----	----	----

11. Related Party Transactions

Within Owing Group Undertakings is an amount due to a related party; Polyurethane Technology Limited £ 50,000 (2023: Owed £ 10,800 ). Mr P J Hindson owns 100% of the shares of Polyurethane Technology Limited. Within Owed by Group Undertakings is an amount owed by a related party; Rim-Mix Limited £ 67,742.86 (2023: £ 87,969.16 ) The Director of Rim-Mix Limited is a family member of Mr P J Hindson and Mrs A F Hindson . Within Owed by Group Undertakings is an amount owed by a related party; PUR Technology Limited £ 68,950.15 (2023: £ 92,210.21 ) The Director of PUR Technology Limited is a family member of Mr P J Hindson and Mrs A F Hindson. Within Owed by Group Undertakings is an amount owed by a related party; Hennecke £ 157.00 (2023: £Nil) Mr P J Hindson owns 100% of the shares of Hennecke Limited Within Owed by Group Undertakings is an amount owed by a related party; Autorim Group Limited £ 282.00 (2023: £Nil) Mr P J Hindson and Mrs A F Hindson owns 100% of the shares of Autorim Group Limited.