Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30No description of principal activity24false2023-05-01false21falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07735195 2023-05-01 2024-09-30 07735195 2022-05-01 2023-04-30 07735195 2024-09-30 07735195 2023-04-30 07735195 2022-05-01 07735195 c:Director1 2023-05-01 2024-09-30 07735195 c:Director2 2023-05-01 2024-09-30 07735195 d:Buildings 2023-05-01 2024-09-30 07735195 d:Buildings 2024-09-30 07735195 d:Buildings 2023-04-30 07735195 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-09-30 07735195 d:Buildings d:LeasedAssetsHeldAsLessee 2023-05-01 2024-09-30 07735195 d:PlantMachinery 2023-05-01 2024-09-30 07735195 d:PlantMachinery 2024-09-30 07735195 d:PlantMachinery 2023-04-30 07735195 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-09-30 07735195 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-01 2024-09-30 07735195 d:MotorVehicles 2023-05-01 2024-09-30 07735195 d:MotorVehicles 2024-09-30 07735195 d:MotorVehicles 2023-04-30 07735195 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-09-30 07735195 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-01 2024-09-30 07735195 d:FurnitureFittings 2023-05-01 2024-09-30 07735195 d:FurnitureFittings 2024-09-30 07735195 d:FurnitureFittings 2023-04-30 07735195 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-09-30 07735195 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-05-01 2024-09-30 07735195 d:ComputerEquipment 2023-05-01 2024-09-30 07735195 d:ComputerEquipment 2024-09-30 07735195 d:ComputerEquipment 2023-04-30 07735195 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-09-30 07735195 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-05-01 2024-09-30 07735195 d:OwnedOrFreeholdAssets 2023-05-01 2024-09-30 07735195 d:LeasedAssetsHeldAsLessee 2023-05-01 2024-09-30 07735195 d:Goodwill 2023-05-01 2024-09-30 07735195 d:Goodwill 2024-09-30 07735195 d:Goodwill 2023-04-30 07735195 d:CurrentFinancialInstruments 2024-09-30 07735195 d:CurrentFinancialInstruments 2023-04-30 07735195 d:CurrentFinancialInstruments 1 2024-09-30 07735195 d:CurrentFinancialInstruments 1 2023-04-30 07735195 d:Non-currentFinancialInstruments 2024-09-30 07735195 d:Non-currentFinancialInstruments 2023-04-30 07735195 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 07735195 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07735195 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 07735195 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 07735195 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-09-30 07735195 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 07735195 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-09-30 07735195 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 07735195 d:ShareCapital 2024-09-30 07735195 d:ShareCapital 2023-04-30 07735195 d:RetainedEarningsAccumulatedLosses 2024-09-30 07735195 d:RetainedEarningsAccumulatedLosses 2023-04-30 07735195 c:FRS102 2023-05-01 2024-09-30 07735195 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-09-30 07735195 c:FullAccounts 2023-05-01 2024-09-30 07735195 c:PrivateLimitedCompanyLtd 2023-05-01 2024-09-30 07735195 d:HirePurchaseContracts d:WithinOneYear 2024-09-30 07735195 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 07735195 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-09-30 07735195 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 07735195 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 07735195 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 07735195 2 2023-05-01 2024-09-30 07735195 6 2023-05-01 2024-09-30 07735195 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-09-30 07735195 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-30 07735195 d:LeasedAssetsHeldAsLessee 2024-09-30 07735195 d:LeasedAssetsHeldAsLessee 2023-04-30 07735195 d:Goodwill d:OwnedIntangibleAssets 2023-05-01 2024-09-30 07735195 f:PoundSterling 2023-05-01 2024-09-30 iso4217:GBP xbrli:pure
Registered number: 07735195














AUTOQUIP (GB) GARAGE EQUIPMENT LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
REGISTERED NUMBER:07735195

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

30 September
30 April
2024
2023
Note

FIXED ASSETS
  

Intangible assets
 4 
120,428
140,265

Tangible assets
 5 
322,289
278,435

Investments
 6 
20
20

  
442,737
418,720

CURRENT ASSETS
  

Stocks
  
570,544
304,324

Debtors: amounts falling due within one year
 7 
1,042,542
1,041,704

Cash at bank and in hand
  
62,806
63,108

  
1,675,892
1,409,136

Creditors: amounts falling due within one year
 8 
(1,838,023)
(1,457,676)

NET CURRENT LIABILITIES
  
 
 
(162,131)
 
 
(48,540)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
280,606
370,180

Creditors: amounts falling due after more than one year
 9 
(202,264)
(222,293)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(15,945)
(39,372)

NET ASSETS
  
£62,397
£108,515


CAPITAL AND RESERVES
  

Called up share capital 
  
114
113

Profit and loss account
  
62,283
108,402

  
£62,397
£108,515


Page 1

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
REGISTERED NUMBER:07735195

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 January 2025.




___________________________
Mr B C Davis
___________________________
Mr B K Davis
Director
Director

The notes on pages 3 to 14 form part of these financial statements.

Page 2

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.


General information

Autoquip (GB) Garage Equipment Ltd is a private company limited by shares incorporated in England and Wales.
The registered office of the company is Yew Tree Barn, Mulberry Hill, Chilham, Kent, CT4 8AH. The registered company number is 07735195.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods as follows.

Depreciation is provided on the following basis:

Freehold property
-
Plant and machinery
-
25%
Reducing balance basis
Motor vehicles
-
25%
Reducing balance basis
Fixtures and fittings
-
15%
Reducing balance basis
Computer equipment
-
33%
Straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 5

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 24 (2023 - 21).

Page 6

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

4.


Intangible assets






Goodwill



Cost


At 1 May 2023
215,062



At 30 September 2024

215,062



Amortisation


At 1 May 2023
74,797


Charge for the period on owned assets
19,837



At 30 September 2024

94,634



Net book value



At 30 September 2024
£120,428



At 30 April 2023
£140,265



Page 7

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets







Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment



Cost or valuation


At 1 May 2023
12,519
15,972
444,614
13,194
6,408


Additions
-
1,819
178,901
-
1,127


Disposals
-
-
(82,378)
-
-



At 30 September 2024

12,519
17,791
541,137
13,194
7,535



Depreciation


At 1 May 2023
1,000
10,495
191,971
6,072
4,734


Charge for the period on owned assets
355
2,054
100,290
1,514
1,815


Charge for the period on financed assets
-
-
10,371
-
-


Disposals
-
-
(60,784)
-
-



At 30 September 2024

1,355
12,549
241,848
7,586
6,549



Net book value



At 30 September 2024
£11,164
£5,242
£299,289
£5,608
£986



At 30 April 2023
£11,519
£5,477
£252,643
£7,122
£1,674
Page 8

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

           5.Tangible fixed assets (continued)


Total



Cost or valuation


At 1 May 2023
492,707


Additions
181,847


Disposals
(82,378)



At 30 September 2024

592,176



Depreciation


At 1 May 2023
214,272


Charge for the period on owned assets
106,028


Charge for the period on financed assets
10,371


Disposals
(60,784)



At 30 September 2024

269,887



Net book value



At 30 September 2024
£322,289



At 30 April 2023
£278,435

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


30 September
30 April
2024
2023



Motor vehicles
341,787
260,308

£341,787
£260,308

Page 9

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

6.


Fixed asset investments








Investments in subsidiary companies



Cost or valuation


At 1 May 2023
20



At 30 September 2024
£20





7.


Debtors

30 September
30 April
2024
2023


Trade debtors
750,163
714,865

Amounts owed by group undertakings
31,108
23,741

Other debtors
248,791
298,017

Prepayments and accrued income
12,480
5,081

£1,042,542
£1,041,704


Page 10

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

30 September
30 April
2024
2023

Bank loans
13,636
12,322

Trade creditors
874,739
704,826

Amounts owed to associates
20
20

Corporation tax
86,154
46,111

Other taxation and social security
184,344
70,921

Obligations under finance lease and hire purchase contracts
107,186
62,907

Proceeds of factored debts
418,360
355,624

Other creditors
17,410
54,729

Accruals and deferred income
136,174
150,216

£1,838,023
£1,457,676


The following liabilities were secured:

30 September
30 April
2024
2023



Net obligations under finance leases and hire purchase contracts
74,548
65,695

Bank loans
19,700
12,322

Proceeds of factored debts
290,668
355,624

384,916
433,641

Details of security provided:

Hire purchase and finance leases are secured on the assets concerned.
Bank loans are secured by a fixed and floating charge over company assets.
Proceeds of factored debts are secured on the company aged debtors.

Page 11

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

9.


Creditors: Amounts falling due after more than one year

30 September
30 April
2024
2023

Bank loans
9,091
29,742

Net obligations under finance leases and hire purchase contracts
193,173
192,551

£202,264
£222,293


The following liabilities were secured:

30 September
30 April
2024
2023



Bank loans
14,790
29,742

Net obligations under financial leases and hire purchase contracts
283,064
203,118

297,854
232,860

Details of security provided:

Hire purchase and finance leases are secured on the assets concerned.
Bank loans are secured by a fixed and floating charge over company assets.

Page 12

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


30 September
30 April
2024
2023

Amounts falling due within one year

Bank loans
13,636
12,322


13,636
12,322

Amounts falling due 1-2 years

Bank loans
9,091
12,727


9,091
12,727

Amounts falling due 2-5 years

Bank loans
-
17,015


-
17,015


£22,727
£42,064



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

30 September
30 April
2024
2023


Within one year
74,548
65,695

Between 1-5 years
283,064
203,118

£357,612
£268,813

Page 13

 
AUTOQUIP (GB) GARAGE EQUIPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

12.


Deferred taxation






2024
2023





At beginning of year
(39,372)
(23,309)


Charged to profit or loss
23,427
(16,063)



At end of year
£(15,945)
£(39,372)

The provision for deferred taxation is made up as follows:

30 September
30 April
2024
2023


Accelerated capital allowances
(15,945)
(39,372)

£(15,945)
£(39,372)


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £26,442 (2023: £15,220) . Contributions totalling £3,984 (2023: £3,031) were payable to the fund at the balance sheet date and are iincluded in creditors.


14.


Related party transactions

At the year end an outstanding balance of £161,240 (2023:£161,405) was owed to the company by Mr Ben Davis. An outstanding balance of £26,330 (2023; £26,348) was owed to the company by Mr Brian Davis. 

Page 14