Allan Austin Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Allan Austin Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00474623 . The registered office is Sandwell Business Park, 1 Ash Court, Crystal Drive, Smethwick West Midlands, B66 1QG.

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. 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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.

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% reducing balance
Motor Vehicles	25% reducing balance

2.5. 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.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Allan Austin Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	2,205

As at 31 March 2025	2,205

Amortisation
As at 1 April 2024	2,205

As at 31 March 2025	2,205

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 April 2024	36,189	20,688	56,877
Additions	244	-	244

As at 31 March 2025	36,433	20,688	57,121

Depreciation
As at 1 April 2024	33,163	14,142	47,305
Provided during the period	504	1,637	2,141

As at 31 March 2025	33,667	15,779	49,446

Net Book Value
As at 31 March 2025	2,766	4,909	7,675

As at 1 April 2024	3,026	6,546	9,572

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Allan Austin Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Investments

	Listed
	£
Cost or Valuation
As at 1 April 2024	300

As at 31 March 2025	300

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	300

As at 1 April 2024	300

Listed investments having a net book value of £300 (2024: £300) are held by the company and had a market value of £108 (2024: £108) at the end of the year.

7. Stocks

	2025	2024
	£	£
Stock - Materials	43,204	49,603

8. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	30,784	38,467
Prepayments and accrued income	5,643	6,258
Corporation tax recoverable assets	49	-

	36,476	44,725

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	9,989	13,080
Corporation tax	-	49
VAT	5,565	7,285
Accruals and deferred income	2,439	2,338
Director's loan account	29,999	29,999

	47,992	52,751

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	15,000	15,000

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Allan Austin Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	13,000	13,000
Later than one year and not later than five years	45,500	52,000
Later than five years	-	6,500

	58,500	71,500

12. Pension Commitments

The company operates a defined contribution pension scheme for its director. The assets of the scheme are held separately from those of the company in an independently administered fund. During the year contributions to the scheme totalled £41,333 (2024: £45,333).

At the balance sheet date unpaid contributions of £Nil (2024: £Nil) were due to the fund. They are included in Other Creditors.

13. Related Party Transactions

The trading property is owed by J B Evans by way of his pension scheme. During the year the company paid rent of £13,000 (2024: £11,598) into the scheme.

No other transactions were undertaken with related parties such as are required to be disclosed under FRS 102.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		7,675		9,572
Investments	6		300		300

			7,975		9,872
CURRENT ASSETS
Stocks	7	43,204		49,603
Debtors	8	36,476		44,725
Cash at bank and in hand		15,937		12,246

		95,617		106,574
Creditors: Amounts Falling Due Within One Year	9	(47,992 )		(52,751 )

NET CURRENT ASSETS (LIABILITIES)			47,625		53,823

TOTAL ASSETS LESS CURRENT LIABILITIES			55,600		63,695

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,458 )		(1,819 )

NET ASSETS			54,142		61,876

CAPITAL AND RESERVES
Called up share capital	10		15,000		15,000
Profit and Loss Account			39,142		46,876

SHAREHOLDERS' FUNDS			54,142		61,876