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Company Registration No. 07394168 (England and Wales)
Prance Motor Services Ltd Unaudited accounts for the year ended 31 October 2024
Prance Motor Services Ltd Unaudited accounts Contents
Page
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Prance Motor Services Ltd Company Information for the year ended 31 October 2024
Director
Mr P Prance
Company Number
07394168 (England and Wales)
Registered Office
Unit 1 Clovelly Industrial Estate Bideford Devon EX39 3HW United Kingdom
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Prance Motor Services Ltd Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
16,534 
21,768 
Current assets
Inventories
3,388 
5,477 
Debtors
3,140 
6,260 
Cash at bank and in hand
5,340 
1,029 
11,868 
12,766 
Creditors: amounts falling due within one year
(83,914)
(45,125)
Net current liabilities
(72,046)
(32,359)
Total assets less current liabilities
(55,512)
(10,591)
Creditors: amounts falling due after more than one year
- 
(25,000)
Net liabilities
(55,512)
(35,591)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(55,612)
(35,691)
Shareholders' funds
(55,512)
(35,591)
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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 July 2025 and were signed on its behalf by
Mr P Prance Director Company Registration No. 07394168
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Prance Motor Services Ltd Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
Prance Motor Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 07394168. The registered office is Unit 1, Clovelly Industrial Estate, Bideford, Devon, EX39 3HW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2023
2,440 
28,368 
522 
31,330 
At 31 October 2024
2,440 
28,368 
522 
31,330 
Depreciation
At 1 November 2023
639 
8,676 
247 
9,562 
Charge for the year
270 
4,923 
41 
5,234 
At 31 October 2024
909 
13,599 
288 
14,796 
Net book value
At 31 October 2024
1,531 
14,769 
234 
16,534 
At 31 October 2023
1,801 
19,692 
275 
21,768 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
540 
Accrued income and prepayments
2,761 
3,324 
Other debtors
379 
2,396 
3,140 
6,260 
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Prance Motor Services Ltd Notes to the Accounts for the year ended 31 October 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
124 
Trade creditors
371 
799 
Other creditors
20 
112 
Loans from directors
82,185 
42,761 
Accruals
1,338 
1,329 
83,914 
45,125 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
25,000 
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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