5 5 PDC Motoring Centre Limited 04842513 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is that of repair and servicing of motor vehicles. Digita Accounts Production Advanced 6.30.9574.0 true 04842513 2023-11-01 2024-10-31 04842513 2024-10-31 04842513 core:CurrentFinancialInstruments 2024-10-31 04842513 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 04842513 core:Non-currentFinancialInstruments 2024-10-31 04842513 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 04842513 core:Goodwill 2024-10-31 04842513 core:BetweenTwoFiveYears 2024-10-31 04842513 core:WithinOneYear 2024-10-31 04842513 core:FurnitureFittings 2024-10-31 04842513 core:LandBuildings core:LongLeaseholdAssets 2024-10-31 04842513 core:MotorVehicles 2024-10-31 04842513 core:OfficeEquipment 2024-10-31 04842513 core:PlantMachinery 2024-10-31 04842513 1 2024-10-31 04842513 bus:SmallEntities 2023-11-01 2024-10-31 04842513 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 04842513 bus:FilletedAccounts 2023-11-01 2024-10-31 04842513 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 04842513 bus:RegisteredOffice 2023-11-01 2024-10-31 04842513 bus:Director1 2023-11-01 2024-10-31 04842513 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04842513 core:Goodwill 2023-11-01 2024-10-31 04842513 core:ComputerEquipment 2023-11-01 2024-10-31 04842513 core:FurnitureFittings 2023-11-01 2024-10-31 04842513 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 04842513 core:LandBuildings core:LongLeaseholdAssets 2023-11-01 2024-10-31 04842513 core:LeaseholdImprovements 2023-11-01 2024-10-31 04842513 core:MotorCars 2023-11-01 2024-10-31 04842513 core:MotorVehicles 2023-11-01 2024-10-31 04842513 core:OfficeEquipment 2023-11-01 2024-10-31 04842513 core:PlantMachinery 2023-11-01 2024-10-31 04842513 countries:AllCountries 2023-11-01 2024-10-31 04842513 1 2023-11-01 2024-10-31 04842513 2023-10-31 04842513 core:Goodwill 2023-10-31 04842513 core:FurnitureFittings 2023-10-31 04842513 core:LandBuildings core:LongLeaseholdAssets 2023-10-31 04842513 core:MotorVehicles 2023-10-31 04842513 core:OfficeEquipment 2023-10-31 04842513 core:PlantMachinery 2023-10-31 04842513 1 2023-10-31 04842513 2022-11-01 2023-10-31 04842513 2023-10-31 04842513 core:CurrentFinancialInstruments 2023-10-31 04842513 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 04842513 core:Non-currentFinancialInstruments 2023-10-31 04842513 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 04842513 core:BetweenTwoFiveYears 2023-10-31 04842513 core:WithinOneYear 2023-10-31 04842513 core:FurnitureFittings 2023-10-31 04842513 core:LandBuildings core:LongLeaseholdAssets 2023-10-31 04842513 core:MotorVehicles 2023-10-31 04842513 core:OfficeEquipment 2023-10-31 04842513 core:PlantMachinery 2023-10-31 04842513 1 2023-10-31 04842513 1 2022-11-01 2023-10-31 04842513 1 2022-10-31 xbrli:pure iso4217:GBP

Registration number: 04842513

PDC Motoring Centre Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

PDC Motoring Centre Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 8

 

PDC Motoring Centre Limited

(Registration number: 04842513)
Statement of Financial Position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

18,243

18,095

Current assets

 

Stocks

6

6,000

6,000

Debtors

7

15,759

12,825

Cash at bank and in hand

 

52,709

37,231

 

74,468

56,056

Creditors: Amounts falling due within one year

8

(72,530)

(74,150)

Net current assets/(liabilities)

 

1,938

(18,094)

Total assets less current liabilities

 

20,181

1

Creditors: Amounts falling due after more than one year

8

(5,834)

(15,833)

Provisions for liabilities

(2,409)

(2,165)

Net assets/(liabilities)

 

11,938

(17,997)

Capital and reserves

 

Called up share capital

999

999

Profit and loss account

10,939

(18,996)

Shareholders' funds/(deficit)

 

11,938

(17,997)

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

Director's 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 director acknowledges his 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 and 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 Statement of Comprehensive Income.

Approved and authorised by the director on 10 July 2025
 


P Deykin
Director

 

PDC Motoring Centre Limited

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

1

General information

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

The address of its registered office is:
Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of repair and servicing of motor vehicles.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 value added tax, returns, rebates and discounts.

 

PDC Motoring Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

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.

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

Long leasehold improvements

10% Straight Line

Computer equipment

10% Straight Line

Plant and machinery

10% Straight Line

Fixtures, fittings & equipment

10% Straight Line

Motor vehicles

25% Reducing Balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

 

PDC Motoring Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 Years Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

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 statement of comprehensive income 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

PDC Motoring Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

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

 

PDC Motoring Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

55,000

55,000

At 31 October 2024

55,000

55,000

Amortisation

At 1 November 2023

55,000

55,000

At 31 October 2024

55,000

55,000

Carrying amount

At 31 October 2024

-

-

5

Tangible assets

Improvements to leasehold property
£

Fixtures and fittings
£

Plant and machinery
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

1,390

1,783

89,041

15,791

6,500

114,505

Additions

-

-

1,702

232

-

1,934

At 31 October 2024

1,390

1,783

90,743

16,023

6,500

116,439

Depreciation

At 1 November 2023

1,390

1,537

74,293

12,689

6,500

96,409

Charge for the year

-

32

1,172

583

-

1,787

At 31 October 2024

1,390

1,569

75,465

13,272

6,500

98,196

Carrying amount

At 31 October 2024

-

214

15,278

2,751

-

18,243

At 31 October 2023

-

245

14,748

3,102

-

18,095

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

6,000

6,000

 

PDC Motoring Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

7

Debtors

2024
£

2023
£

Other debtors

2,975

-

Prepayments

12,784

12,825

15,759

12,825

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

10,000

10,000

Trade creditors

 

37,091

27,161

Taxation and social security

 

19,207

14,543

Other creditors

 

6,232

22,446

 

72,530

74,150

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

5,834

15,833

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

PDC Motoring Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,834

15,833

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

43,677

43,677

Later than one year and not later than five years

43,677

87,354

87,354

131,031

The amount of non-cancellable operating lease payments recognised as an expense during the year was £43,677 (2023 - £45,070).

12

Related party transactions

Transactions with the director

2024

At 1 November 2023
£

Advances to director
£

At 31 October 2024
£

Director

(14,995)

17,912

2,917

       
     

 

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Director

(20,523)

5,528

-

(14,995)