Autowise Tyre and Autocentres Limited - Accounts to registrar (filleted) - small 22.3
Autowise Tyre and Autocentres Limited - Accounts to registrar (filleted) - small 22.3
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2022 |
FOR |
AUTOWISE TYRE AND AUTOCENTRES LIMITED |
AUTOWISE TYRE AND AUTOCENTRES LIMITED (REGISTERED NUMBER: 03080844) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
AUTOWISE TYRE AND AUTOCENTRES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
30 - 34 North Street |
Hailsham |
East Sussex |
BN27 1DW |
AUTOWISE TYRE AND AUTOCENTRES LIMITED (REGISTERED NUMBER: 03080844) |
BALANCE SHEET |
31 JULY 2022 |
2022 | 2021 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
AUTOWISE TYRE AND AUTOCENTRES LIMITED (REGISTERED NUMBER: 03080844) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2022 |
1. | STATUTORY INFORMATION |
Autowise Tyre and Autocentres Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the recognition of certain assets and liabilities measured at fair value. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties. |
Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Unrelieved tax losses and other deferred tax assets are only 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 tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
AUTOWISE TYRE AND AUTOCENTRES LIMITED (REGISTERED NUMBER: 03080844) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed by group undertakings |
5. | SECURED DEBTS |
The following security is held by the company's bank; |
Debenture including a fixed charge over all present freehold and leasehold property dated 16 January 2012. |
First fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future dated 16 January 2012. |
First floating charge over all assets and undertaking both present and future dated 16 January 2012. |
Unlimited Multilateral Guarantee dated 12 January 2012 given by PJS Automotive Limited, Autowise Tyres and Autocentres Limited. |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 10,000 | 10,000 |
7. | RELATED PARTY DISCLOSURES |
As a wholly owned subsidiary of Aston Group Holdings Limited, the Company is exempt from the requirements of FRS 102 to disclose transactions with other members of the group. |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
In the opinion of the directors, the ultimate controlling party at 31 July 2021 is Mr P Glencross, due to his shareholding in Aston Group Holdings Limited. |