Company No: 04381996 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	164,159		144,984
		164,159		144,984
Current assets
Stocks	5	5,000		5,000
Debtors	6	11,232		81,773
Cash at bank and in hand		90,447		2,525
		106,679		89,298
Creditors: amounts falling due within one year	7	( 65,745)		( 95,982)
Net current assets/(liabilities)		40,934		(6,684)
Total assets less current liabilities		205,093		138,300
Creditors: amounts falling due after more than one year	8	( 72,829)		( 23,224)
Net assets		132,264		115,076
Capital and reserves
Called-up share capital	9	101		101
Profit and loss account		132,163		114,975
Total shareholders' funds		132,264		115,076

For the financial year ending 31 May 2025 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 financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Automotive Accessories Limited (registered number: 04381996) were approved and authorised for issue by the Director on 02 October 2025. They were signed on its behalf by:

Hannah Lucy Cox Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Automotive Accessories Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Fleming Court, Leigh Road, Eastleigh, SO50 9PD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	20 years straight line
Plant and machinery etc.	3 years straight line
	15 - 25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	4		4

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 June 2024	80,000		80,000
At 31 May 2025	80,000		80,000
Accumulated amortisation
At 01 June 2024	80,000		80,000
At 31 May 2025	80,000		80,000
Net book value
At 31 May 2025	0		0
At 31 May 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 June 2024	51,950		368,716		420,666
Additions	0		95,000		95,000
Disposals	0		( 174,651)		( 174,651)
At 31 May 2025	51,950		289,065		341,015
Accumulated depreciation
At 01 June 2024	13,622		262,060		275,682
Charge for the financial year	2,600		27,351		29,951
Disposals	0		( 128,777)		( 128,777)
At 31 May 2025	16,222		160,634		176,856
Net book value
At 31 May 2025	35,728		128,431		164,159
At 31 May 2024	38,328		106,656		144,984

5. Stocks

	2025		2024
	£		£
Stocks	5,000		5,000

6. Debtors

	2025		2024
	£		£
Trade debtors	( 8,795)		67,507
Prepayments	8,407		6,501
VAT recoverable	3,855		0
Other debtors	7,765		7,765
	11,232		81,773

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	14,597		24,116
Amounts owed to director	1,433		130
Accruals	4,520		2,890
Other taxation and social security	4,053		7,680
Obligations under finance leases and hire purchase contracts	15,383		10,922
Other creditors	25,759		50,244
	65,745		95,982

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts (secured)	72,829		23,224

The hire purchase liabilities of £88,212 are secured by way of guarantee given by the director.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary "A" shares of £ 1.00 each	100		100
1 Ordinary "B" share of £ 1.00	1		1
	101		101