Derby Auto Electrical Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04088231 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Derby Auto Electrical Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L J Ross

A S Ross

SECRETARY:

Mrs L J Ross

REGISTERED OFFICE:

11 Canal Street

Derby

Derbyshire

DE1 2RJ

REGISTERED NUMBER:

04088231 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

171

105,625

171

105,625

CURRENT ASSETS

Stocks

-

385,000

Debtors

6

150,744

494,932

Cash at bank and in hand

1,054,934

255,713

1,205,678

1,135,645

CREDITORS

Amounts falling due within one year

7

143,685

337,944

NET CURRENT ASSETS

1,061,993

797,701

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,062,164

903,326

PROVISIONS FOR LIABILITIES

-

8,035

NET ASSETS

1,062,164

895,291

CAPITAL AND RESERVES

Called up share capital

10

Retained earnings

1,062,154

895,281

1,062,164

895,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

A S Ross - Director

1.	STATUTORY INFORMATION

Derby Auto Electrical Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, is amortised over its estimated useful economic life.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

10% on cost

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The company's financial statements are prepared on a going concern basis on the grounds that, despite the company ceasing to trade during the period, the final settlement of compensation for the loss of trade remains unresolved and as such the closure date for the company is as yet not final. The current and future sources of funding or support will be more than adequate for the company's needs.

Accounting periods

The comparative data covers a period of 15 months from 1 October 2022 to 31 December 2023.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

9,600

Disposals

(9,600

)

At 31 December 2024

-

AMORTISATION

At 1 January 2024

9,600

Eliminated on disposal

(9,600

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

Motor

property

machinery

vehicles

Totals

£

COST

At 1 January 2024

90,000

51,184

95,995

97,671

334,850

Disposals

(90,000

)

(51,184

)

(95,995

)

(89,671

)

(326,850

)

At 31 December 2024

-

8,000

DEPRECIATION

At 1 January 2024

16,517

51,183

88,364

73,161

229,225

Charge for year

-

2,599

Eliminated on disposal

(16,517

)

(51,183

)

(88,364

)

(67,931

)

(223,995

)

At 31 December 2024

-

7,829

NET BOOK VALUE

At 31 December 2024

-

171

At 31 December 2023

73,483

1

7,631

24,510

105,625

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

2,328

348,070

Other debtors

77,663

14,361

Owed by related parties

-

120,650

VAT

2,104

-

Prepayments

68,649

11,851

150,744

494,932

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

-

174,698

Tax

114,892

80,023

Social security and other taxes

-

43,666

Other creditors

-

10,951

Directors' current accounts

19,874

24,787

Accrued expenses

8,919

3,819

143,685

337,944

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the period end the company owed the directors, A S Ross and L J Ross £19,874 (2023: £24,787).

During the period A S Ross was paid rent of £9,600 (2023: £11,200).

Dividends totalling £229,750 (2023: £43,180) were paid to the directors.

During the prior period the company loaned £120,000 to the directors' SIPP under normal commercial terms. Interest is receivable on the loan at 6.5% per annum. The full capital balance, plus interest was received in full during the period.

During the prior period the company sold the investment property to the directors at the full market value of £165,000.

9.	CONTROLLING PARTY

The company is under the control of the directors.