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Registered number: 08224043
Four Point Auto Care Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08224043
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,694 10,734
10,694 10,734
CURRENT ASSETS
Stocks 5 149,842 140,009
Debtors 6 9,442 7,338
Cash at bank and in hand 12,806 16,461
172,090 163,808
Creditors: Amounts Falling Due Within One Year 7 (158,233 ) (153,554 )
NET CURRENT ASSETS (LIABILITIES) 13,857 10,254
TOTAL ASSETS LESS CURRENT LIABILITIES 24,551 20,988
Creditors: Amounts Falling Due After More Than One Year 8 (116,049 ) (157,642 )
NET LIABILITIES (91,498 ) (136,654 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement (91,598 ) (136,754 )
SHAREHOLDERS' FUNDS (91,498) (136,654)
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Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Income Statement.
On behalf of the board
Roy Castle
Director
10 July 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Four Point Auto Care Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08224043 . The registered office is HFL House, Saxon Way, Melbourn, Cambridgeshire, SG8 6DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director continues to support the company as it recovers from trading issues.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Plant & Machinery 15% on cost
Motor Vehicles 25% on reducing balance
Computer and Office Equipment 3 years on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.
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2.6. Stocks and Work in Progress
Stocks and work in progress are 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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer and Office Equipment Total
£ £ £ £
Cost
As at 1 November 2023 80,473 28,000 1,900 110,373
Additions 3,548 - - 3,548
As at 31 October 2024 84,021 28,000 1,900 113,921
Depreciation
As at 1 November 2023 78,920 18,819 1,900 99,639
Provided during the period 1,293 2,295 - 3,588
As at 31 October 2024 80,213 21,114 1,900 103,227
Net Book Value
As at 31 October 2024 3,808 6,886 - 10,694
As at 1 November 2023 1,553 9,181 - 10,734
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 4,350 5,800
5. Stocks
2024 2023
£ £
Stock on hand 149,842 140,009
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,255 7,133
Other debtors 3,187 205
9,442 7,338
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,602 5,282
Trade creditors 28,917 23,936
Bank loans and overdrafts 93,486 19,392
Other creditors 25,886 95,362
Taxation and social security 8,342 9,582
158,233 153,554
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 52,553
Bank loans 116,049 105,089
116,049 157,642
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 1,602 5,282
Later than one year and not later than five years - 52,553
1,602 57,835
1,602 57,835
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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