Registered number
15068684
Steve Randles Autosmart Ltd
Filleted Accounts
31 August 2024
Steve Randles Autosmart Ltd
Registered number: 15068684
Balance Sheet
as at 31 August 2024
Notes 2024
£
Fixed assets
Tangible assets 4 13,591
Current assets
Cash at bank and in hand 6,146
Creditors: amounts falling due within one year 5 (19,039)
Net current liabilities (12,893)
Net assets 698
Capital and reserves
Called up share capital 1
Profit and loss account 697
Shareholders' funds 698
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Steve Randles
Director
Approved by the board on 9 May 2025
Steve Randles Autosmart Ltd
Notes to the Accounts
for the period from 13 August 2023 to 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 20% reducing balance
Office Equipment 20% reducing balance
Plant and Machinery 20% reducing balance
2
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
3 Employees 2024
Number
Average number of persons employed by the company 1
4 Tangible fixed assets
Motor Vehicles Office Equipment Plant and machinery Total
£ £ £ £
Cost
Additions 14,484 978 347 15,809
At 31 August 2024 14,484 978 347 15,809
Depreciation
Charge for the period 2,172 - 46 2,218
At 31 August 2024 2,172 - 46 2,218
Net book value
At 31 August 2024 12,312 978 301 13,591
5 Creditors: amounts falling due within one year 2024
£
Directors loan account 17,345
Taxation and social security costs 494
Other creditors 1,200
19,039
6 Called up share capital
The company issued 1 ordinary £1 share during the year which was fully paid, on incorporation.
7 Other information
Steve Randles Autosmart Ltd is a private company limited by shares and incorporated in England.
10 Hegistbury Road
Barton on Sea
New Milton
Hampshire
BH25 7LU
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