43 false false true false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,453,948 1,266,263 72,098 1,338,361 115,587 187,685 xbrli:pure xbrli:shares iso4217:GBP 02982858 2023-11-01 2024-10-31 02982858 2024-10-31 02982858 2023-10-31 02982858 2022-11-01 2023-10-31 02982858 2023-10-31 02982858 2022-10-31 02982858 core:NetGoodwill 2023-11-01 2024-10-31 02982858 core:LandBuildings 2023-11-01 2024-10-31 02982858 core:PlantMachinery 2023-11-01 2024-10-31 02982858 core:FurnitureFittings 2023-11-01 2024-10-31 02982858 core:MotorVehicles 2023-11-01 2024-10-31 02982858 bus:Director4 2023-11-01 2024-10-31 02982858 bus:Director5 2023-11-01 2024-10-31 02982858 core:NetGoodwill 2023-10-31 02982858 core:NetGoodwill 2024-10-31 02982858 core:LandBuildings 2023-10-31 02982858 core:PlantMachinery 2023-10-31 02982858 core:FurnitureFittings 2023-10-31 02982858 core:MotorVehicles 2023-10-31 02982858 core:LandBuildings 2024-10-31 02982858 core:PlantMachinery 2024-10-31 02982858 core:FurnitureFittings 2024-10-31 02982858 core:MotorVehicles 2024-10-31 02982858 core:WithinOneYear 2024-10-31 02982858 core:WithinOneYear 2023-10-31 02982858 core:ShareCapital 2024-10-31 02982858 core:ShareCapital 2023-10-31 02982858 core:RetainedEarningsAccumulatedLosses 2024-10-31 02982858 core:RetainedEarningsAccumulatedLosses 2023-10-31 02982858 core:NetGoodwill 2023-10-31 02982858 core:LandBuildings 2023-10-31 02982858 core:PlantMachinery 2023-10-31 02982858 core:FurnitureFittings 2023-10-31 02982858 core:MotorVehicles 2023-10-31 02982858 bus:SmallEntities 2023-11-01 2024-10-31 02982858 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 02982858 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 02982858 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 02982858 bus:FullAccounts 2023-11-01 2024-10-31 02982858 core:OfficeEquipment 2023-11-01 2024-10-31 02982858 core:OfficeEquipment 2023-10-31 02982858 core:OfficeEquipment 2024-10-31
COMPANY REGISTRATION NUMBER: 02982858
AUTO-SPARKS LIMITED
Filleted Unaudited Financial Statements
31 October 2024
AUTO-SPARKS LIMITED
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
115,587
187,685
Tangible assets
6
837,372
884,962
---------
------------
952,959
1,072,647
Current assets
Stocks
221,596
361,459
Debtors
7
195,583
164,906
Cash at bank and in hand
1,022,636
1,326,065
------------
------------
1,439,815
1,852,430
Creditors: amounts falling due within one year
8
383,133
403,584
------------
------------
Net current assets
1,056,682
1,448,846
------------
------------
Total assets less current liabilities
2,009,641
2,521,493
------------
------------
Net assets
2,009,641
2,521,493
------------
------------
Capital and reserves
Called up share capital
70
88
Profit and loss account
2,009,571
2,521,405
------------
------------
Shareholders funds
2,009,641
2,521,493
------------
------------
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 comprehensive income has not been delivered.
For the year ending 31st October 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 .
AUTO-SPARKS LIMITED
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Mrs L L Marshall
W B Wallace
Director
Director
Company registration number: 02982858
AUTO-SPARKS LIMITED
Notes to the Financial Statements
Year ended 31st October 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 17 Newstead Grove, NOTTINGHAM, NG1 4GZ.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
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:
Freehold and Leasehold Property
-
4% straight line
Plant and Machinery
-
15% reducing balance
Website Costs
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Office Equipment
-
20% reducing balance
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 43 (2023: 46 ).
5. Intangible assets
Goodwill
£
Cost
At 1st November 2023 and 31st October 2024
1,453,948
------------
Amortisation
At 1st November 2023
1,266,263
Charge for the year
72,098
------------
At 31st October 2024
1,338,361
------------
Carrying amount
At 31st October 2024
115,587
------------
At 31st October 2023
187,685
------------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Nov 2023
791,213
314,976
63,783
19,252
113,920
1,303,144
Additions
6,222
6,222
---------
---------
--------
--------
---------
------------
At 31 Oct 2024
791,213
314,976
63,783
19,252
120,142
1,309,366
---------
---------
--------
--------
---------
------------
Depreciation
At 1 Nov 2023
110,365
177,552
43,602
11,130
75,533
418,182
Charge for the year
17,201
20,614
5,045
2,031
8,921
53,812
---------
---------
--------
--------
---------
------------
At 31 Oct 2024
127,566
198,166
48,647
13,161
84,454
471,994
---------
---------
--------
--------
---------
------------
Carrying amount
At 31 Oct 2024
663,647
116,810
15,136
6,091
35,688
837,372
---------
---------
--------
--------
---------
------------
At 31 Oct 2023
680,848
137,424
20,181
8,122
38,387
884,962
---------
---------
--------
--------
---------
------------
7. Debtors
2024
2023
£
£
Trade debtors
187,725
157,905
Other debtors
7,858
7,001
---------
---------
195,583
164,906
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
127,270
159,383
Corporation tax
133,191
130,806
Social security and other taxes
82,867
61,682
Pension creditor
11,190
10,624
Other creditors
28,615
41,089
---------
---------
383,133
403,584
---------
---------
9. Related party transactions
The company was under the control of Mr P R Davis throughout the current year. The company occupies premises owned by Mrs L Marshall, (a director) and pays an annual rental of £24,000.