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REGISTERED NUMBER: 07337521 (England and Wales)












Financial Statements

for the Year Ended 31st August 2024

for

ALLWOOD AUTOMOBILE COMPANY LTD

ALLWOOD AUTOMOBILE COMPANY LTD (REGISTERED NUMBER: 07337521)

Contents of the Financial Statements
for the year ended 31st August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALLWOOD AUTOMOBILE COMPANY LTD

Company Information
for the year ended 31st August 2024







DIRECTORS: A.J. Woodcock
Mrs W D Hall-Woodcock
M Woodcock
Miss O T Woodcock





REGISTERED OFFICE: 1 Tower House
Tower Centre
Hoddesdon
Hertfordshire
EN11 8UR





REGISTERED NUMBER: 07337521 (England and Wales)





ACCOUNTANTS: Attenboroughs (Accountants) Limited
Chartered Certified Accountants
1 Tower House
Tower Centre
Hoddesdon
Hertfordshire
EN11 8UR

ALLWOOD AUTOMOBILE COMPANY LTD (REGISTERED NUMBER: 07337521)

Balance Sheet
31st August 2024

31/8/24 31/8/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 19,304 5,730

CURRENT ASSETS
Stocks 5 477,809 588,235
Debtors 6 93,780 83,256
Cash at bank 32,072 242
603,661 671,733
CREDITORS
Amounts falling due within one year 7 337,428 280,968
NET CURRENT ASSETS 266,233 390,765
TOTAL ASSETS LESS CURRENT
LIABILITIES

285,537

396,495

CREDITORS
Amounts falling due after more than one year 8 (7,500 ) (17,500 )

PROVISIONS FOR LIABILITIES (4,826 ) (1,433 )
NET ASSETS 273,211 377,562

CAPITAL AND RESERVES
Called up share capital 11 4 4
Retained earnings 273,207 377,558
SHAREHOLDERS' FUNDS 273,211 377,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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.

ALLWOOD AUTOMOBILE COMPANY LTD (REGISTERED NUMBER: 07337521)

Balance Sheet - continued
31st August 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th May 2025 and were signed on its behalf by:





A.J. Woodcock - Director


ALLWOOD AUTOMOBILE COMPANY LTD (REGISTERED NUMBER: 07337521)

Notes to the Financial Statements
for the year ended 31st August 2024


1. STATUTORY INFORMATION

ALLWOOD AUTOMOBILE COMPANY LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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 machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% 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 Income Statement, 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.

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.

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.

ALLWOOD AUTOMOBILE COMPANY LTD (REGISTERED NUMBER: 07337521)

Notes to the Financial Statements - continued
for the year ended 31st August 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st September 2023 7,583 4,955 4,436 16,974
Additions - 18,700 - 18,700
At 31st August 2024 7,583 23,655 4,436 35,674
DEPRECIATION
At 1st September 2023 3,931 4,038 3,275 11,244
Charge for year 913 3,923 290 5,126
At 31st August 2024 4,844 7,961 3,565 16,370
NET BOOK VALUE
At 31st August 2024 2,739 15,694 871 19,304
At 31st August 2023 3,652 917 1,161 5,730

5. STOCKS
31/8/24 31/8/23
£    £   
Stocks 477,809 588,235

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Trade debtors 47,228 36,704
Other debtors 4,500 4,500
Related company - Waltham Cross Property
Company Ltd

42,052

42,052
93,780 83,256

ALLWOOD AUTOMOBILE COMPANY LTD (REGISTERED NUMBER: 07337521)

Notes to the Financial Statements - continued
for the year ended 31st August 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Trade creditors 46,665 7,667
Tax 15,052 30,824
Social security and other taxes 1,008 1,839
VAT 26,293 27,446
Other creditors 1,158 1,126
Director's current account 233,841 198,805
Accrued expenses 3,411 3,261
337,428 280,968

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/24 31/8/23
£    £   
Bank loans (see note 9) 7,500 17,500

9. LOANS

An analysis of the maturity of loans is given below:

31/8/24 31/8/23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 7,500 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 7,500

10. SECURED DEBTS

The following secured debts are included within creditors:

31/8/24 31/8/23
£    £   
Bank loans 17,500 27,500

The Bank borrowing is secured by a fixed and floating charge over the whole of the company's assets, supported by a charge over a property owned by the director.

ALLWOOD AUTOMOBILE COMPANY LTD (REGISTERED NUMBER: 07337521)

Notes to the Financial Statements - continued
for the year ended 31st August 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/8/24 31/8/23
value: £    £   
1 Ordinary £1 1 1
1 Ordinary 'A' £1 1 1
1 Ordinary 'B' £1 1 1
1 Ordinary 'C' £1 1 1
4 4

12. RELATED PARTY DISCLOSURES

During the period, rent of £31,200 (2023: £31,200) was paid to Waltham Cross Property Company Ltd, a company part owned by one of the directors.