Arun Automotive Limited 12608414 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Sale and maintenance of motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true true 12608414 2023-09-01 2024-08-31 12608414 2024-08-31 12608414 bus:OrdinaryShareClass1 2024-08-31 12608414 core:CurrentFinancialInstruments 2024-08-31 12608414 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 12608414 core:FurnitureFittingsToolsEquipment 2024-08-31 12608414 bus:SmallEntities 2023-09-01 2024-08-31 12608414 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12608414 bus:FilletedAccounts 2023-09-01 2024-08-31 12608414 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12608414 bus:RegisteredOffice 2023-09-01 2024-08-31 12608414 bus:Director2 2023-09-01 2024-08-31 12608414 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 12608414 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12608414 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 12608414 core:PlantMachinery 2023-09-01 2024-08-31 12608414 countries:England 2023-09-01 2024-08-31 12608414 2023-08-31 12608414 core:FurnitureFittingsToolsEquipment 2023-08-31 12608414 2022-09-01 2023-08-31 12608414 2023-08-31 12608414 bus:OrdinaryShareClass1 2023-08-31 12608414 core:CurrentFinancialInstruments 2023-08-31 12608414 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12608414 core:FurnitureFittingsToolsEquipment 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Arun Automotive Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

Registration number: 12608414

 

Arun Automotive Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Arun Automotive Limited

(Registration number: 12608414)
Statement of financial position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,838

10,993

Current assets

 

Stocks

5

104,212

98,063

Debtors

6

22,449

12,922

Cash at bank and in hand

 

21,754

69,800

 

148,415

180,785

Creditors: Amounts falling due within one year

7

(146,868)

(180,946)

Net current assets/(liabilities)

 

1,547

(161)

Total assets less current liabilities

 

11,385

10,832

Provisions for liabilities

(1,762)

(1,981)

Net assets

 

9,623

8,851

Capital and reserves

 

Called up share capital

8

90

90

Retained earnings

9,533

8,761

Shareholders' funds

 

9,623

8,851

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 21 May 2025 and signed on its behalf by:
 

.........................................
A Hampton
Director

 

Arun Automotive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 21 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Arun Automotive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Arun Automotive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 5).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

15,267

15,267

Additions

1,139

1,139

At 31 August 2024

16,406

16,406

Depreciation

At 1 September 2023

4,274

4,274

Charge for the year

2,294

2,294

At 31 August 2024

6,568

6,568

Carrying amount

At 31 August 2024

9,838

9,838

At 31 August 2023

10,993

10,993

 

Arun Automotive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

104,212

98,063

6

Debtors

Current

2024
£

2023
£

Trade debtors

10,674

12,922

Prepayments

4,084

-

Other debtors

7,691

-

 

22,449

12,922

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

6,124

-

Trade creditors

 

78,210

104,933

Taxation and social security

 

32,974

40,934

Accruals and deferred income

 

4,715

750

Other creditors

 

24,845

34,329

 

146,868

180,946

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

90

90

90

90

       
 

Arun Automotive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,124

-