QUEENSMEAD AUTO SERVICES LIMITED

Company Registration Number:
02934535 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2024

Period of accounts

Start date: 01 November 2023

End date: 31 October 2024

QUEENSMEAD AUTO SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2024

Balance sheet
Notes

QUEENSMEAD AUTO SERVICES LIMITED

Balance sheet

As at 31 October 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 737,016 729,117
Investments: 4 2 2
Total fixed assets: 737,018 729,119
Current assets
Debtors: 5 485,359 840,510
Cash at bank and in hand: 598,677 443,743
Investments:   101,500 40,608
Total current assets: 1,185,536 1,324,861
Creditors: amounts falling due within one year:   (235,841) (369,113)
Net current assets (liabilities): 949,695 955,748
Total assets less current liabilities: 1,686,713 1,684,867
Creditors: amounts falling due after more than one year: 6 (203,524) (225,409)
Provision for liabilities: (34,828) (30,504)
Total net assets (liabilities): 1,448,361 1,428,954
Capital and reserves
Called up share capital: 20,000 20,000
Profit and loss account: 1,428,361 1,408,954
Shareholders funds: 1,448,361 1,428,954

The notes form part of these financial statements

QUEENSMEAD AUTO SERVICES LIMITED

Balance sheet statements

For the year ending 31 October 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 18 July 2025
and signed on behalf of the board by:

Name: C R Hayward Doyle
Status: Director

The notes form part of these financial statements

QUEENSMEAD AUTO SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Turnover policy

Turnover represents the value of services rendered during the year, exclusive of VAT.

Tangible fixed assets and depreciation policy

Depreciation has been provided to write off the cost less estimated residual value of tangible fixed assets over their estimated useful lives as follows Freehold buildings - 1% Straight Line, Plant and machinery - 20% Reducing balance, Fixtures, fittings and equipment - 20% Reducing balance, Motor vehicles - 25% Reducing balance, Computer equipment - 20% Straight Line from date of commencement of operating.

Other accounting policies

Investment properties are included in the balance sheet at open market value as at the balance sheet date, as estimated by the directors. The resulting fair value adjustment is transferred to profit and loss account. Deferred tax is recognised in respect of all timing differences. It is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on investment properties held at fair value is measured using the rates and allowances that would apply to the sale of the assets at that fair value.

QUEENSMEAD AUTO SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

2. Employees

2024 2023
Average number of employees during the period 48 65

QUEENSMEAD AUTO SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Tangible Assets

Total
Cost £
At 01 November 2023 944,723
Additions 17,288
Disposals 0
Revaluations 10,000
At 31 October 2024 972,011
Depreciation
At 01 November 2023 215,606
Charge for year 19,389
On disposals 0
At 31 October 2024 234,995
Net book value
At 31 October 2024 737,016
At 31 October 2023 729,117

QUEENSMEAD AUTO SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

4. Fixed investments

Shares in inactive 100% subsidiary undertakings - Cost at 1 November 2023 - £2 and at 31 October 2024 - £2. The subsidiary undertakings are Across The Miles Limited and Movement Auto Services Limited. Both were inactive during the year.

QUEENSMEAD AUTO SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 271,942 271,942

Debtors due after more than one year relates to a loan to Societe Civile Immobiliere Ruaudiere, a company incorporated in France and owned by Messrs A Hayward and M A Hepworth, who are close family members of the directors and shareholders. During the year, agreement was reached with the company that outstanding interest of £150,921, accrued over earlier years, would be cancelled. However interest would start accruing again from 1 November 2023 at the UK base rate plus 2% per annum. In accordance with this agreement, interest charged for the year amounted to £19,545.

QUEENSMEAD AUTO SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

6. Creditors: amounts falling due after more than one year note

Creditors include an outstanding bank loan, secured on a freehold investment property, amounting to a total of £225,409 (2023: £246,241). The loan is repayable by monthly instalments over the period to April 2033. The amount repayable within one year is £21,885 (2023: £20,832) and the amount falling due after one year is £203,524 (2023: £225,409).

QUEENSMEAD AUTO SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2024

7. Related party transactions

Remuneration paid to the directors, who are also the company's shareholders, amounted to £66,516 (2023: £66,516). Dividends paid during the year to the directors amounted to a total of £5,000 (2023: £10,000).