Registration number:
Central Auto Centre Ltd
for the year ended 31 March 2026
Central Auto Centre Ltd
Contents
|
Company Information |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
Central Auto Centre Ltd
Company Information
|
Directors |
Mr G McLaughlin Mr P McLaughlin |
|
Registered office |
|
Central Auto Centre Ltd
(Registration number: 08884781)
Balance Sheet as at 31 March 2026
|
Note |
2026 |
2025 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
( |
( |
|
|
Creditors: Amounts falling due after more than one year |
- |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net liabilities |
( |
( |
|
|
Capital and reserves |
|||
|
Called up share capital |
300 |
300 |
|
|
Retained earnings |
(66,424) |
(63,532) |
|
|
Shareholders' deficit |
(66,124) |
(63,232) |
For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Central Auto Centre Ltd
(Registration number: 08884781)
Balance Sheet as at 31 March 2026
Approved and authorised by the
|
......................................... |
Central Auto Centre Ltd
Notes to the Unaudited Financial Statements for the year ended 31 March 2026
|
General information |
The company is a private company limited by share capital, incorporated in UK.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
|
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.
Going concern
The financial statements have been prepared on a going concern basis, with management having given due consideration to the company’s ability to continue as a going concern for at least the next twelve months.
Central Auto Centre Ltd
Notes to the Unaudited Financial Statements for the year ended 31 March 2026
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 turnover 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.
Tangible assets
Tangible assets are stated in the balance sheet 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:
|
Depreciation method and rate for tangible assets |
|
|
Asset class |
Depreciation method and rate |
|
Plant & Machinery |
20% Straight line |
Central Auto Centre Ltd
Notes to the Unaudited Financial Statements for the year ended 31 March 2026
|
Fixtures & Fittings |
25% Straight line |
|
Motor Vehicles |
20% 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 |
10% 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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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 stocks 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.
Central Auto Centre Ltd
Notes to the Unaudited Financial Statements for the year ended 31 March 2026
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
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.
Central Auto Centre Ltd
Notes to the Unaudited Financial Statements for the year ended 31 March 2026
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Central Auto Centre Ltd
Notes to the Unaudited Financial Statements for the year ended 31 March 2026
|
Intangible assets |
|
Goodwill |
Total |
|
|
Cost or valuation |
||
|
At 1 April 2025 |
|
|
|
At 31 March 2026 |
|
|
|
Amortisation |
||
|
At 1 April 2025 |
|
|
|
At 31 March 2026 |
|
|
|
Carrying amount |
||
|
At 31 March 2026 |
- |
- |
|
Tangible assets |
|
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
|
|
Cost or valuation |
||||
|
At 1 April 2025 |
|
|
|
|
|
Additions |
|
|
- |
|
|
At 31 March 2026 |
|
|
|
|
|
Depreciation |
||||
|
At 1 April 2025 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
At 31 March 2026 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 March 2026 |
|
|
- |
|
|
At 31 March 2025 |
|
|
|
|
Central Auto Centre Ltd
Notes to the Unaudited Financial Statements for the year ended 31 March 2026
|
Stocks |
|
2026 |
2025 |
|
|
Finished goods and goods for resale |
|
|
|
Debtors |
|
Current |
2026 |
2025 |
|
Trade debtors |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
Central Auto Centre Ltd
Notes to the Unaudited Financial Statements for the year ended 31 March 2026
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
2026 |
2025 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Taxation and social security |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Other creditors |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
Note |
2026 |
2025 |
|
|
Due after one year |
|||
|
Loans and borrowings |
- |
|
|
Provisions for liabilities |
|
Deferred tax |
Other provisions |
Total |
|
|
At 1 April 2025 |
|
- |
|
|
Increase (decrease) in existing provisions |
( |
( |
( |
|
At 31 March 2026 |
|
( |
|
|
|
|||
|
Dividends |
Interim dividends paid
|
2026 |
2025 |
|||
|
Interim dividend of £ |
|
|
||
Central Auto Centre Ltd
Notes to the Unaudited Financial Statements for the year ended 31 March 2026
|
Related party transactions |
|
Transactions with directors |
At 31 Mar 2026 an amount of £29,900, (2025 £29,853) was due from the directors. During the year an amount of £59,753 was advanced to the directors and £60,885 was repaid. Interest of £1,132 has been charged at an annual rate of 3.75% and there are no set terms in place.
Directors' remuneration
The directors' remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Commitments Under Operating Leases |
The total commitment under operating leases included in the statement of financial position amounts to £9,986 (2025: £7,903)
|
Loans and borrowings |
Non-current loans and borrowings
|
2026 |
2025 |
|
|
Bank borrowings |
- |
|
Current loans and borrowings
|
2026 |
2025 |
|
|
Bank borrowings |
|
- |
|
Bank overdrafts |
|
|
|
|
|
|
|
Taxation |
Tax charged/(credited) in the profit and loss account
Central Auto Centre Ltd
Notes to the Unaudited Financial Statements for the year ended 31 March 2026
|
2026 |
2025 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Tax expense in the income statement |
|
|
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2026 |
2025 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Total deferred taxation |
( |
|
|
Tax expense in the income statement |
|
|