Company registration number: 06977290
Unaudited financial statements
for the year ended 31 March 2025
for
First Choice Autocentre Ltd
Pages for filing with the Registrar
Company registration number: 06977290
First Choice Autocentre Ltd
Balance sheet
as at 31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 4 254,652 222,182
254,652 222,182
Current assets
Stocks 13,266 13,586
Debtors 28,078 23,659
Cash at bank and in hand 490,862 497,722
532,206 534,967
Creditors: amounts falling due within one
year 		(702,435) (697,558)
Net current liabilities (170,229) (162,591)
Total assets less current liabilities 84,423 59,591
Creditors: Amounts falling due after more
than one year 		(16,190) (5,817)
NET ASSETS 68,233 53,774
Capital and reserves
Called up share capital 2 2
Profit and loss account 68,231 53,772
TOTAL EQUITY 68,233 53,774
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 March 2025.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 06977290
First Choice Autocentre Ltd
Balance sheet - continued
as at 31 March 2025
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 to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 16 December 2025 and signed on its behalf by:
Mr M Dobson, Director
16 December 2025
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First Choice Autocentre Ltd
Notes to the financial statements
for the year ended 31 March 2025
1 Company information
First Choice Autocentre Ltd is a private company registered in England and Wales. Its registered number is 06977290. The company is limited by shares. Its registered office is 55 King Street, Stoke-On -Trent, Staffordshire, ST4 3LZ.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Freehold property - Property is not depreciated
Plant and machinery etc.:
Plant and machinery - 25% reducing balance
Fixtures & fittings - 25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
3
First Choice Autocentre Ltd
Notes to the financial statements - continued
for the year ended 31 March 2025
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. 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 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.
3 Average number of employees
During the year the average number of employees was 4 (2024 - 3).
4 Tangible fixed assets
Land and
buildings 		Plant and
machinery
etc. 		Totals
£ £ £
Cost
At 1 April 2024 210,000 49,126 259,126
Additions - 48,263 48,263
At 31 March 2025 210,000 97,389 307,389
Depreciation
At 1 April 2024 - 36,944 36,944
Charge for year - 15,793 15,793
At 31 March 2025 - 52,737 52,737
Net book value
At 31 March 2025 210,000 44,652 254,652
At 31 March 2024 210,000 12,182 222,182
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First Choice Autocentre Ltd
Notes to the financial statements - continued
for the year ended 31 March 2025
5 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024.
2025 2024
£ £
Balance outstanding at start of year 616,093 597,138
Amounts advanced 108,950 106,972
Amounts repaid (94,870) (88,017)
Balance outstanding at end of year 630,173 616,093
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