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REGISTERED NUMBER: 01796047 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2024

for

All Car Exhausts and Tyres Limited

All Car Exhausts and Tyres Limited (Registered number: 01796047)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


All Car Exhausts and Tyres Limited (Registered number: 01796047)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 8,000
Tangible assets 5 14,948 15,907
20,948 23,907

CURRENT ASSETS
Stocks 59,700 59,755
Debtors 6 14,762 16,738
Cash at bank and in hand 36,741 4,885
111,203 81,378
CREDITORS
Amounts falling due within one year 7 109,151 76,025
NET CURRENT ASSETS 2,052 5,353
TOTAL ASSETS LESS CURRENT LIABILITIES 23,000 29,260

CREDITORS
Amounts falling due after more than one year 8 (11,443 ) (24,099 )

PROVISIONS FOR LIABILITIES (2,840 ) (3,022 )
NET ASSETS 8,717 2,139

CAPITAL AND RESERVES
Called up share capital 301 301
Retained earnings 8,416 1,838
SHAREHOLDERS' FUNDS 8,717 2,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:



Mr T W Mackie - Director


All Car Exhausts and Tyres Limited (Registered number: 01796047)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

All Car Exhausts and Tyres Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01796047

Registered office: 52 Broad Street
Leek
Staffordshire
ST13 5NS

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is amortised on a monthly basis for the above period from the date of installation.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office and computer equipment - 33% on cost and 15% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.


All Car Exhausts and Tyres Limited (Registered number: 01796047)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 40,000
AMORTISATION
At 1 May 2023 32,000
Amortisation for year 2,000
At 30 April 2024 34,000
NET BOOK VALUE
At 30 April 2024 6,000
At 30 April 2023 8,000

All Car Exhausts and Tyres Limited (Registered number: 01796047)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Office
Improvements and
to Plant and Motor computer
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 2,528 48,534 3,525 12,892 67,479
Additions - 1,885 - - 1,885
At 30 April 2024 2,528 50,419 3,525 12,892 69,364
DEPRECIATION
At 1 May 2023 2,528 34,181 3,244 11,619 51,572
Charge for year - 2,436 70 338 2,844
At 30 April 2024 2,528 36,617 3,314 11,957 54,416
NET BOOK VALUE
At 30 April 2024 - 13,802 211 935 14,948
At 30 April 2023 - 14,353 281 1,273 15,907

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,762 16,738

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 83,359 56,576
Taxation and social security 20,752 15,657
Other creditors 5,040 3,792
109,151 76,025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 11,443 24,099