Registered number
06853745
23 Automotive Limited
Filleted Accounts
31 March 2025
23 Automotive Limited
Registered number: 06853745
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 234,264 234,830
Investments 4 100 100
234,364 234,930
Current assets
Debtors 5 758,961 642,851
Cash at bank and in hand 23,298 96,150
782,259 739,001
Creditors: amounts falling due within one year 6 (90,838) (117,363)
Net current assets 691,421 621,638
Total assets less current liabilities 925,785 856,568
Creditors: amounts falling due after more than one year 7 (3,333) (13,333)
Net assets 922,452 843,235
Capital and reserves
Called up share capital 2 2
Revaluation reserve 8 72,988 72,988
Profit and loss account 849,462 770,245
Shareholder's funds 922,452 843,235
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
P M E Smith
Director
Approved by the board on 5 May 2025
23 Automotive Limited
Notes to the Accounts
for the year ended 31 March 2025
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 and value added taxes. 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:
Plant, machinery and office equipment 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2024 232,000 19,437 251,437
At 31 March 2025 232,000 19,437 251,437
Depreciation
At 1 April 2024 - 16,607 16,607
Charge for the year - 566 566
At 31 March 2025 - 17,173 17,173
Net book value
At 31 March 2025 232,000 2,264 234,264
At 31 March 2024 232,000 2,830 234,830
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2024 100
At 31 March 2025 100
5 Debtors 2025 2024
£ £
Trade debtors 291,183 343,256
Amounts owed by group undertakings and undertakings in which the company has a participating interest 328,963 188,471
Director's loan 25,000 14,798
Other debtors 113,815 96,326
758,961 642,851
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 48,558 20,419
Taxation and social security costs 30,923 85,632
Other creditors 1,357 1,312
90,838 117,363
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 3,333 13,333
8 Revaluation reserve 2025 2024
£ £
At 1 April 2024 72,988 72,988
At 31 March 2025 72,988 72,988
9 Controlling party
The company's controlling party during the year was Mr P Smith.
10 Other information
23 Automotive Limited is a private company limited by shares and incorporated in England. Its registered office is:
Headway
Great Oakley
Corby
Northamptonshire
NN18 9EZ
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