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Registered number: 09153702
Autoexcel Vehicle Services Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
BOA Accountancy Limited t/a Berkeley Hall
Unit D2 Southgate
Commerce Park
Frome
BA11 2RY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09153702
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 200
Tangible Assets 5 534,590 424,044
534,590 424,244
CURRENT ASSETS
Debtors 6 576,552 607,639
Cash at bank and in hand 242,422 215,675
818,974 823,314
Creditors: Amounts Falling Due Within One Year 7 (633,133 ) (473,319 )
NET CURRENT ASSETS (LIABILITIES) 185,841 349,995
TOTAL ASSETS LESS CURRENT LIABILITIES 720,431 774,239
Creditors: Amounts Falling Due After More Than One Year 8 (124,100 ) (153,404 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (34,783 ) (5,948 )
NET ASSETS 561,548 614,887
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 561,448 614,787
SHAREHOLDERS' FUNDS 561,548 614,887
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Keevill
Director
04/04/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Autoexcel Vehicle Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09153702 . The registered office is Unit 9d Brook Lane, Westbury, Wiltshire, BA13 4EN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold no depreciation
Plant & Machinery 20% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 33.33% straight line
Page 3
Page 4
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 40 (2023: 40)
40 40
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 1,000
As at 31 August 2024 1,000
Amortisation
As at 1 September 2023 800
Provided during the period 200
As at 31 August 2024 1,000
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 200
Page 4
Page 5
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 September 2023 400,200 167,136 2,000 11,353
Additions - 150,350 - -
Disposals - (8,355 ) - (1,220 )
As at 31 August 2024 400,200 309,131 2,000 10,133
Depreciation
As at 1 September 2023 8,004 141,302 2,000 5,339
Provided during the period 4,002 33,798 - 2,005
Disposals - (8,044 ) - (1,220 )
As at 31 August 2024 12,006 167,056 2,000 6,124
Net Book Value
As at 31 August 2024 388,194 142,075 - 4,009
As at 1 September 2023 392,196 25,834 - 6,014
Computer Equipment Total
£ £
Cost
As at 1 September 2023 352 581,041
Additions 467 150,817
Disposals - (9,575 )
As at 31 August 2024 819 722,283
Depreciation
As at 1 September 2023 352 156,997
Provided during the period 155 39,960
Disposals - (9,264 )
As at 31 August 2024 507 187,693
Net Book Value
As at 31 August 2024 312 534,590
As at 1 September 2023 - 424,044
Page 5
Page 6
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 574,620 477,141
Prepayments and accrued income 1,682 498
Net wages 250 -
Zulu Trading Ltd - 130,000
576,552 607,639
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 236,572 213,389
Bank loans and overdrafts 29,304 28,683
Corporation tax 188,330 81,444
Other taxes and social security 36,313 35,743
VAT 135,425 107,827
Pension Liabilities 4,839 3,973
Accruals and deferred income 2,350 2,260
633,133 473,319
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 124,100 153,404
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6