Oundle MOT and Service Centre Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13064633

OUNDLE MOT AND SERVICE CENTRE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

OUNDLE MOT AND SERVICE CENTRE LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		48,746		33,588

CURRENT ASSETS

Stocks		12,600	–
Debtors	6	15,202	12,882
Cash at bank and in hand		10,154	17,169
		--------	--------
		37,956	30,051

CREDITORS: amounts falling due within one year	7	82,238		57,076
		--------		--------
NET CURRENT LIABILITIES			44,282		27,025
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			4,464		6,563

PROVISIONS	3,886	1,793
	-------	-------
NET ASSETS	578	4,770
	-------	-------

CAPITAL AND RESERVES

Called up share capital fully paid	100	100
Profit and loss account	478	4,670
	----	-------
SHAREHOLDERS FUNDS	578	4,770
	----	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

OUNDLE MOT AND SERVICE CENTRE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

Mr J C Nall
Director

Company registration number: 13064633

OUNDLE MOT AND SERVICE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Herne House, Herne Park, East Road, Oundle, Peterborough, PE8 4BZ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	33% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 5 (2023: 4 ).

5. TANGIBLE ASSETS

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	37,407	–	2,688	40,095
Additions	17,223	5,800	2,751	25,774
	--------	-------	-------	--------
At 31 December 2024	54,630	5,800	5,439	65,869
	--------	-------	-------	--------
Depreciation
At 1 January 2024	5,611	–	896	6,507
Charge for the year	7,353	1,450	1,813	10,616
	--------	-------	-------	--------
At 31 December 2024	12,964	1,450	2,709	17,123
	--------	-------	-------	--------
Carrying amount
At 31 December 2024	41,666	4,350	2,730	48,746
	--------	-------	-------	--------
At 31 December 2023	31,796	–	1,792	33,588
	--------	-------	-------	--------

6. DEBTORS

	2024	2023
	£	£
Trade debtors	1,834	5,531
Other debtors	13,368	7,351
	--------	--------
	15,202	12,882
	--------	--------

7. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	28,692	15,754
Social security and other taxes	47,702	28,013
Other creditors	5,844	13,309
	--------	--------
	82,238	57,076
	--------	--------

8. OPERATING LEASES

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

	2024	2023
	£	£
Later than 1 year and not later than 5 years	143,333	137,500
	---------	---------

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr J C Nall	–	2,403	2,403
	----	-------	-------

	2023
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr J C Nall	–	–	–
	----	----	----