BETTS MOTOR SERVICES LIMITED

Company Registration Number:
05536867 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2024

Period of accounts

Start date: 01 December 2023

End date: 30 November 2024

BETTS MOTOR SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

BETTS MOTOR SERVICES LIMITED

Company Information

for the Period Ended 30 November 2024




Director: R Betts
Secretary: L Betts
Registered office: Unit 5
Washington Street
Netherton
West Midlands
DY2 9PH
Company Registration Number: 05536867 (England and Wales)

BETTS MOTOR SERVICES LIMITED

Balance sheet

As at 30 November 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 1,375 2,750
Tangible assets: 5 21,775 28,988
Total fixed assets: 23,150 31,738
Current assets
Stocks: 3,829 3,836
Debtors: 6 47,455 31,960
Cash at bank and in hand: 33,036 47,093
Total current assets: 84,320 82,889
Creditors: amounts falling due within one year: 7 ( 56,840 ) ( 63,269 )
Net current assets (liabilities): 27,480 19,620
Total assets less current liabilities: 50,630 51,358
Creditors: amounts falling due after more than one year: 8 ( 4,916 ) ( 14,715 )
Total net assets (liabilities): 45,714 36,643

The notes form part of these financial statements

BETTS MOTOR SERVICES LIMITED

Balance sheet continued

As at 30 November 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 45,614 36,543
Shareholders funds: 45,714 36,643

For the year ending 30 November 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 24 February 2025
And Signed On Behalf Of The Board By:

Name: R Betts
Status: Director

The notes form part of these financial statements

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

    Motor Vehicles - 25% on reducing balance
    Plant & Machinery - 25% on reducing balance
    Computer Equipment - 33% on a straight line basis
    Fixtures & Fittings - 15% on reducing balance

    Intangible fixed assets amortisation policy

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

    Goodwill - 5% straight line basis

    Valuation information and policy

    Inventories

    Inventories are valued at the lower of cost and net realisable value, after making do allowance for obsolete and slow moving items.

    Other accounting policies

    Taxation Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. 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. Hire purchase and leasing commitments Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 5 5

    There was one director during the year and 4 employees for both financial years.

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

  • 3. Off balance sheet disclosure

    No

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

4. Intangible assets

Goodwill Total
Cost £ £
At 01 December 2023 27,500 27,500
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 30 November 2024 27,500 27,500
Amortisation
Amortisation at 01 December 2023 24,750 24,750
Charge for year 1,375 1,375
On disposals - -
Other adjustments - -
Amortisation at 30 November 2024 26,125 26,125
Net book value
Net book value at 30 November 2024 1,375 1,375
Net book value at 30 November 2023 2,750 2,750

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

5. Tangible assets

Plant & machinery Fixtures & fittings Motor vehicles Total
Cost £ £ £ £
At 01 December 2023 61,906 37,206 57,093 156,205
Additions - - - -
Disposals - - - -
Revaluations - - - -
Transfers - - - -
At 30 November 2024 61,906 37,206 57,093 156,205
Depreciation
At 01 December 2023 48,959 36,901 41,357 127,217
Charge for year 3,239 39 3,935 7,213
On disposals - - - -
Other adjustments - - - -
At 30 November 2024 52,198 36,940 45,292 134,430
Net book value
At 30 November 2024 9,708 266 11,801 21,775
At 30 November 2023 12,947 305 15,736 28,988

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

6. Debtors


2024
£

2023
£
Trade debtors 25,738 24,375
Prepayments and accrued income 6,767 7,585
Other debtors 14,950
Total 47,455 31,960

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

7.Creditors: amounts falling due within one year note


2024
£

2023
£
Bank loans and overdrafts 9,800 9,800
Trade creditors 20,994 20,328
Taxation and social security 23,337 25,336
Accruals and deferred income 2,496 6,325
Other creditors 213 1,480
Total 56,840 63,269

BETTS MOTOR SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2024

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


2024
£

2023
£
Bank loans and overdrafts 4,916 14,715
Total 4,916 14,715