General Information
Auto Solutions (GB) Limited is a private company, limited by shares, registered in England and Wales, registration number 06013856, registration address 23 Roden Avenue, Kidderminster, Worcestershire, DY10 2RF.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The financial statements have been prepared on a basis other than that of a going concern, as the director decided to cease the trading activities of the company on 31st December 2025. Consequently, assets have been written down to their net realisable value, and provisions have been made for liabilities arising from any onerous contracts at the reporting date.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Revenue from contracts for the provision of services is recognised by reference to the stage of completion and where the amount of revenue can be measured reliably.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Fixtures and Fittings |
15% Reducing Balance
|
|
| 2. |
Average number of employees and directors
Average number of employees during the year was 1 (2024 : 1).
|
| 3. |
Intangible fixed assets
| Cost |
Goodwill |
|
Total |
| |
£ |
|
£ |
| At 01 January 2025 |
5,356 |
|
5,356 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 December 2025 |
5,356 |
|
5,356 |
| Amortisation |
| At 01 January 2025 |
5,356 |
|
5,356 |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 31 December 2025 |
5,356 |
|
5,356 |
| Net book values |
| At 31 December 2025 |
- |
|
- |
| At 31 December 2024 |
- |
|
- |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
| At 01 January 2025 |
27,223 |
|
27,223 |
| Additions |
- |
|
- |
| Disposals |
(27,223) |
|
(27,223) |
| At 31 December 2025 |
- |
|
- |
| Depreciation |
| At 01 January 2025 |
19,711 |
|
19,711 |
| Charge for year |
- |
|
- |
| On disposals |
(19,711) |
|
(19,711) |
| At 31 December 2025 |
- |
|
- |
| Net book values |
| Closing balance as at 31 December 2025 |
- |
|
- |
| Opening balance as at 01 January 2025 |
7,512 |
|
7,512 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
3,606 |
|
3,864 |
| Prepayments & Accrued Income |
- |
|
172 |
| Other Debtors |
- |
|
19 |
|
3,606 |
|
4,055 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
771 |
|
851 |
| Bank Loans & Overdrafts (Secured) |
- |
|
2,778 |
| PAYE & Social Security |
371 |
|
2,380 |
| Accrued Expenses |
1,296 |
|
1,047 |
| Other Creditors |
120 |
|
- |
| Wages & Salaries Control Account |
- |
|
521 |
| Directors' Current Accounts |
2,079 |
|
2,178 |
| VAT |
3,383 |
|
3,574 |
|
8,020 |
|
13,329 |
The Company took out a CBILs Loan of £30,000 on 11th May 2020, repayable over a 6 year term with an interest rate of Base plus 3.4%. There is automatically a six month period with no repayments or interest and the Business Interuption Payment of £1,115, is payable by the government. Included within creditors due within 1 year is an amount of £NIL. Repayments of £555 plus interest commenced in December 2020.
|
| 7. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
100
Class A shares of £1.00 each |
100 |
|
100 |
|
100 |
|
100 |
|
| 8. |
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.
|
3
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