MK Automotive Ltd


Directors	Mr S Smith
	Mr N Barker
	Mrs CL Barker


Registered Address	Unit 5 Kestrel Park
	Finch Drive, Springwood Ind Est
	Braintree
	CM7 2SF


Registered Number	10491477 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		37,839		39,984
			37,839		39,984
Current assets
Stocks	4	286,113		207,856
Debtors	5	163,789		202,318
Cash at bank and on hand		84,004		17,826
		533,906		428,000
Creditors amounts falling due within one year	6	(302,706)		(259,063)
Net current assets (liabilities)			231,200		168,937
Total assets less current liabilities			269,039		208,921
Creditors amounts falling due after one year	7		(4,167)		(14,167)
Provisions for liabilities	8		(9,460)		(13,220)
Net assets			255,412		181,534
Capital and reserves
Called up share capital			100		100
Profit and loss account			255,312		181,434
Shareholders' funds			255,412		181,534

The company was entitled to exemption from audit for this reporting period 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.
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 and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 26 September 2025, and are signed on its behalf by:

Mr N Barker
Director
Registered Company No. 10491477

MK Automotive Ltd

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	10
Plant and machinery	25	-
Vehicles	25	-
Office Equipment	25	-

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2024		2023
	Average number of employees during the year	8		5

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	58,387	23,800	3,041	85,228
Additions	3,092	-	4,225	7,317
Disposals	-	(3,500)	(102)	(3,602)
At 31 December 24	61,479	20,300	7,164	88,943
Depreciation and impairment
At 01 January 24	29,061	14,712	1,471	45,244
Charge for year	5,974	2,155	820	8,949
On disposals	-	(3,033)	(56)	(3,089)
At 31 December 24	35,035	13,834	2,235	51,104
Net book value
At 31 December 24	26,444	6,466	4,929	37,839
At 31 December 23	29,326	9,088	1,570	39,984

4.	Stocks

	2024	2023
	£	£
Raw materials and consumables	286,113	207,856
Total	286,113	207,856

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	98,984	126,082
Other debtors	30,700	48,500
Prepayments and accrued income	34,105	27,736
Total	163,789	202,318

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	96,744	89,485
Bank borrowings and overdrafts	10,000	10,000
Taxation and social security	25,885	15,321
Other creditors	170,077	144,257
Total	302,706	259,063

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	4,167	14,167
Total	4,167	14,167

8.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	9,460	13,220
Total	9,460	13,220

9.	Directors advances, credits and guarantees
	During the year, the following advances and credits were made to directors, Director 1, advances £18,520 (2023: £7,149), credits £27,757 (2023 £25,009), year end balance (£88,124) (2023 (£78,887)). Director 2, advances £14,277 (2023: £11,977), credits £34,991 (2023 £20,963), year end balance (£58,504) (2023 (£37,790)). Director 3, advances £7,530 (2023: £6,368), credits £8,158 (2023 £6,550), year end balance (£810) (2023 (£182)).

Directors advances, credits and guarantees

During the year, the following advances and credits were made to directors,
Director 1, advances £18,520 (2023: £7,149), credits £27,757 (2023 £25,009), year end balance (£88,124) (2023 (£78,887)).
Director 2, advances £14,277 (2023: £11,977), credits £34,991 (2023 £20,963), year end balance (£58,504) (2023 (£37,790)).
Director 3, advances £7,530 (2023: £6,368), credits £8,158 (2023 £6,550), year end balance (£810) (2023 (£182)).