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Petworth MOT Centre Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 30 April 2025
Registration number: 04793938

Petworth MOT Centre Ltd

Contents

Statement of financial position | 1
Notes to the Unaudited Financial Statements | 2 to 5

Petworth MOT Centre Ltd

(Registration number: 04793938)
Statement of financial position as at 30 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 12,700 | 2,674
Current assets |  |  |
Stocks | 6 | 2,900 | 3,900
Debtors | 7 | 20,233 | 18,704
Cash at bank and in hand |  | 100,660 | 138,864
|  | 123,793 | 161,468
Creditors: Amounts falling due within one year | 8 | (51,211) | (76,078)
Net current assets |  | 72,582 | 85,390
Total assets less current liabilities |  | 85,282 | 88,064
Provisions for liabilities |  | (2,455) | (568)
Net assets |  | 82,827 | 87,496
Capital and reserves |  |  |
Called up share capital | 9 | 2 | 2
Retained earnings |  | 82,825 | 87,494
Shareholders' funds |  | 82,827 | 87,496

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 11 August 2025 and signed on its behalf by:

......................................... Mr P Adam Director

Petworth MOT Centre Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 11 August 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.

Petworth MOT Centre Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 25% reducing balance
Fixtures and fittings | 20% reducing balance
Motor vehicles | 25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Petworth MOT Centre Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 5).

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 May 2024 | 107,325 | 107,325
At 30 April 2025 | 107,325 | 107,325
Amortisation
At 1 May 2024 | 107,325 | 107,325
At 30 April 2025 | 107,325 | 107,325
Carrying amount
At 30 April 2025 | - | -

5 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 May 2024 | 42,894 | 1,001 | 43,895
Additions | 11,350 | - | 11,350
At 30 April 2025 | 54,244 | 1,001 | 55,245
Depreciation
At 1 May 2024 | 40,537 | 684 | 41,221
Charge for the year | 1,245 | 79 | 1,324
At 30 April 2025 | 41,782 | 763 | 42,545
Carrying amount
At 30 April 2025 | 12,462 | 238 | 12,700
At 30 April 2024 | 2,357 | 317 | 2,674

6 | Stocks

| 2025 £ | 2024 £
Other inventories | 2,900 | 3,900

Petworth MOT Centre Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 9,882 | 10,889
Prepayments | 10,351 | 7,815
| 20,233 | 18,704

8 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 25,544 | 21,227
Taxation and social security | 16,165 | 23,397
Accruals and deferred income | 3,550 | 2,625
Other creditors | 5,952 | 28,829
| 51,211 | 76,078

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 2 | 2 | 2 | 2