Registration number: 04943276

M T Wilson Motor Repairs Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

M T Wilson Motor Repairs Limited

Company Information

Directors

Mr Paul Wilson Mr Philip Di-Fonzo Mr Malcolm Trevor Wilson

Company secretary

Mrs Susan Wilson

Registered office

10 Prospect Place Welwyn Hertfordshire AL6 9EW

Accountants

RS Partnership Ltd Chartered Certified Accountants10 Prospect Place Welwyn Hertfordshire AL6 9EW

M T Wilson Motor Repairs Limited

(Registration number: 04943276)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	2,937	4,192
Current assets
Stocks	5	6,600	6,600
Debtors	6	25,939	37,010
Cash at bank and in hand		93,965	58,987
		126,504	102,597
Creditors: Amounts falling due within one year	7	(77,334)	(78,518)
Net current assets		49,170	24,079
Total assets less current liabilities		52,107	28,271
Provisions for liabilities		(734)	(739)
Net assets		51,373	27,532
Capital and reserves
Called up share capital	8	100	100
Retained earnings		51,273	27,432
Shareholders' funds		51,373	27,532

For the financial year ending 31 December 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 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 Profit and Loss Account.

Approved and authorised by the Board on 19 August 2025 and signed on its behalf by:
 

M T Wilson Motor Repairs Limited

(Registration number: 04943276)
Balance Sheet as at 31 December 2024

......................................... Mr Paul Wilson Director

M T Wilson Motor Repairs Limited

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

1	General information

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

The address of its registered office is:
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

The principal place of business is:
Unit 9 Sphere Industrial Estate
Campfield Road
St Albans
Hertfordshire
AL1 5HT
UK

These financial statements were authorised for issue by the Board on 19 August 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.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

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.

M T Wilson Motor Repairs Limited

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

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 balance sheet 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
Motor vehicles	25% Reducing balance
Plant & equipment	25% Reducing balance

Amortisation

Asset class	Amortisation method and rate
Goodwill	20% Straight line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

M T Wilson Motor Repairs Limited

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

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

M T Wilson Motor Repairs Limited

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

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 January 2024	1	1	1,523	33,501	35,026
Disposals	(1)	(1)	(1,523)	(6,743)	(8,268)
At 31 December 2024	-	-	-	26,758	26,758
Depreciation
At 1 January 2024	-	-	1,306	29,528	30,834
Charge for the year	-	-	-	979	979
Eliminated on disposal	-	-	(1,306)	(6,686)	(7,992)
At 31 December 2024	-	-	-	23,821	23,821
Carrying amount
At 31 December 2024	-	-	-	2,937	2,937
At 31 December 2023	1	1	217	3,973	4,192

Included within the net book value of land and buildings above is £Nil (2023 - £1) in respect of short leasehold land and buildings.
 

5

Stocks

	2024 £	2023 £
Other inventories	6,600	6,600

6

Debtors

	2024 £	2023 £
Trade debtors	411	45
Prepayments	14,128	14,477
Other debtors	11,400	22,488
	25,939	37,010

M T Wilson Motor Repairs Limited

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

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	23,889	48,498
Taxation and social security	7,323	1,961
Accruals and deferred income	3,300	3,230
Corporation tax	16,094	8,496
Directors Loan Account	26,728	16,333
	77,334	78,518

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary A of £1 each	100	100	100	100

M T Wilson Motor Repairs Limited

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

9	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Later than one year and not later than five years	103,774	141,510

The amount of non-cancellable operating lease payments recognised as an expense during the year was £37,736 (2023 - £37,736).