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WESSEX AUTO CENTRES GROUP LTD

FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2024


















Company Registration Number - 14257155

















ANDREWS & COMPANY

Accountants & Tax Consultants

W124


1.
WESSEX AUTO CENTRES GROUP LTD
COMPANY NUMBER - 14257155

Balance sheet as at 31 July 2024





2024
2023

Notes
£ £ £ £
FIXED ASSETS





Tangible assets 4
78,383
31,735

Current assets




Stocks
16,000
15,000

Debtors 5 203,573
204,568

Cash at bank and in hand
20,497
5,143




240,070
224,711
Current liabilities




Creditors - Amounts
falling due within one year 6 330,382
265,931


NET CURRENT LIABILITIES

(90,312)
(41,220)


Total assets less current liabilities

(11,929)
(9,485)












CAPITAL AND RESERVES

Called up share capital 7
106
106

Profit and Loss account

(12,035)
(9,591)


Shareholders' funds

(11,929)
(9,485)



These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies.
In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.

For the financial year ended 31 July 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The members have not required the company to obtain an audit.


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.


Approved by the board of directors on 29 April 2025
and signed on their behalf by:



CHRISTOPHER BARNES NYGEL JEFFERY LOCKE




Director Director





The notes on pages 2 to 4 form an integral part of these accounts.


2.
WESSEX AUTO CENTRES GROUP LTD

Notes to the Financial Statements

For the year ended 31 July 2024


1. General Information

Wessex Auto Centres Group Ltd is a Private Company, limited by shares, domiciled in England and Wales, registration number 14257155.


The company's registered office is 2 Glenville Road, Bournemouth, Dorset, BH10 4EF.


2. Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.


Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.


Tangible fixed assets and depreciation

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:


Plant and machinery - 10% straight line

Fixtures and fittings - 25% reducing balance

Motor vehicles - 25% reducing balance

Office and computer equipment - 25% reducing balance


3. Employees

The average number employed by the company (including directors) during the year 2024 was 14
and in the previous year 2023 was 16.


3.
WESSEX AUTO CENTRES GROUP LTD

Notes to the Financial Statements

For the year ended 31 July 2024


4. Fixed assets - tangible

Plant Fixtures


and and Motor Computer Total

machinery Fittings Vehicles equipment

--------- -------- -------- --------- -----
Fair value £ £ £ £ £
At 1 August 2023 30,128 - 4,167 1,993 36,288
Additions 54,922 382 985 353 56,642





At 31 July 2024 85,050 382 5,152 2,346 92,930






Depreciation
At 1 August 2023 3,013 - 1,042 498 4,553
Charge for year 8,505 - 1,027 462 9,994





At 31 July 2024 11,518 - 2,069 960 14,547






Net book values
At 31 July 2024 73,532 382 3,083 1,386 78,383





At 1 August 2023 27,115 - 3,125 1,495 31,735








2024
2023


£
£
5. Debtors

Due within one year:



Trade debtors 202,630
203,572
Directors' overdrawn current accounts 943
996



203,573
204,568



Included in other debtors are directors' overdrawn current accounts:-




Maximum


01:08:23 31:07:24 in year







£ £ £

Mr C Barnes
53 nil 53
Mr N Locke
943 943 943







4.
WESSEX AUTO CENTRES GROUP LTD

Notes to the Financial Statements

For the year ended 31 July 2024




2024
2023


£
£
6. Creditors

Amounts falling due within one year:



Trade creditors 125,755
118,397
Other creditors:



Other taxation and social security 63,192
116,730
Directors' current accounts 22,900
-
Other 116,335
28,804
Accruals and deferred income 2,200
2,000


330,382 265,931



7. Called up share capital

There was no change in share capital during the year.


Allotted, called up and fully paid



Ordinary shares of £1 each 106
106


8. Related party transactions

During the period the company incurred costs totalling £86,460 (2023 £128,386) with Wessex Auto Centres Ltd, a company under the control of the directors. As at the 31 July 2024 Wessex Auto Centres Ltd owed the company a total of £205,739 (2023 £203,572) because of advance payments made by the company in anticipation of further costs to be incurred and assets to be acquired.

Following the year end Wessex Auto Centres Ltd went into liquidation and so it was decided to make a bad debt provision of £20,000 against the amount owed. Therefore the amount of debtors included in the balance sheet and regarded as being owed to the company has been written down to £185,739.