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Registered number: 4257627
Auto Refurbishment Limited
Financial Statements
For The Year Ended 31 July 2024
Kennedy Johnson
83 Carlton Drive
Wigston
LE18 1DG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 4257627
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,820 13,511
16,820 13,511
CURRENT ASSETS
Stocks 5 240 285
Debtors 6 4,025 1,964
Cash at bank and in hand 34,815 17,737
39,080 19,986
Creditors: Amounts Falling Due Within One Year 7 (23,698 ) (11,786 )
NET CURRENT ASSETS (LIABILITIES) 15,382 8,200
TOTAL ASSETS LESS CURRENT LIABILITIES 32,202 21,711
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (1,078 ) (1,438 )
NET ASSETS 31,124 20,273
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 31,024 20,173
SHAREHOLDERS' FUNDS 31,124 20,273
Page 1
Page 2
For the year ending 31 July 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 Timothy Humphreys
Director
15/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Auto Refurbishment Limited Registered number 4257627 is a limited by shares company incorporated in England & Wales. The Registered Office is 2 Park View Close, Broughton Astley, Leicestershire, LE9 6PR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 10% per annum. on cost.
Plant & Machinery 25% per annum. calculated on the reducing balance.
Motor Vehicles 25% per annum. calculated on the reducing balance.
2.4. Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 August 2023 7,109 23,669 19,331 50,109
Additions - - 10,500 10,500
Disposals - - (19,331 ) (19,331 )
As at 31 July 2024 7,109 23,669 10,500 41,278
...CONTINUED
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Depreciation
As at 1 August 2023 1,169 20,685 14,744 36,598
Provided during the period 711 746 1,147 2,604
Disposals - - (14,744 ) (14,744 )
As at 31 July 2024 1,880 21,431 1,147 24,458
Net Book Value
As at 31 July 2024 5,229 2,238 9,353 16,820
As at 1 August 2023 5,940 2,984 4,587 13,511
5. Stocks
2024 2023
£ £
Materials 240 285
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,025 1,964
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,358 1,153
Corporation tax 1,919 548
Value added tax 1,846 1,237
Accruals 534 513
Director's loan account 18,041 8,335
23,698 11,786
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 1,078 1,438
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
The director is also the sole shareholder. therefore the dividend of £0 (2023 - £2,000) voted in respect of the year was wholly payable to the director. 
2024 2023
£ £
Mr Timothy Humphreys 1,000 -
Page 4
Page 5
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 1,000 -
12. Ultimate Controlling Party
The company's ultimate controlling party is Timothy Humphreys by virtue of his ownership of 100% of the issued share capital in the company.
Page 5