Mount Automotive Solutions Limited Filleted accounts for Companies House (small and micro)
Mount Automotive Solutions Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
05663608
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FINANCIAL STATEMENTS |
YEAR ENDED 31 DECEMBER 2020
Contents |
Pages |
Balance sheet
1
Notes to the financial statements
2 to 6
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BALANCE SHEET |
2020 |
2019 |
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Note |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
6 |
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Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
(
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(
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Net current liabilities |
(
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(
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Total assets less current liabilities |
(
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(
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Provisions
Taxation including deferred tax |
(
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– |
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Net liabilities |
(
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(
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Capital and reserves
Called up share capital |
10 |
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Profit and loss account |
(
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(
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Shareholders deficit |
(
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(
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In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
13 September 2021
, and are signed on behalf of the board by:
Company registration number:
05663608
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NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 31 DECEMBER 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is New Bond Street, Halifax, West Yorkshire, HX1 2TH.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short Leasehold Property |
- |
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Plant and Machinery |
- |
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Fixtures and Fittings |
- |
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Motor Vehicles |
- |
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Freehold property occupied partly for own use and partly by tenants is maintained to a high standard and is not depreciated. All repair and maintenance expenditure is written off as incurred and the directors consider that any depreciation charge would be immaterial.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Government grants
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
12
(2019:
12
).
5.
Tangible assets
Long leasehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2020 and 31 December 2020 |
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Depreciation |
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At 1 January 2020 |
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Charge for the year |
– |
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– |
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At 31 December 2020 |
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Carrying amount |
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At 31 December 2020 |
– |
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– |
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At 31 December 2019 |
– |
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– |
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6.
Stocks
2020 |
2019 |
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£ |
£ |
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Goods for resale and consumables |
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7.
Debtors
2020 |
2019 |
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£ |
£ |
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Trade debtors |
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Prepayments and accrued income |
– |
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Corporation tax recoverable |
– |
4,517 |
Other debtors |
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8.
Creditors:
amounts falling due within one year
2020 |
2019 |
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£ |
£ |
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Trade creditors |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Corporation tax |
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– |
Social security and other taxes |
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Directors' loan account |
52,767
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42,033
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9.
Deferred tax
The deferred tax included in the balance sheet is as follows:
2020 |
2019 |
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£ |
£ |
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Included in provisions |
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– |
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10.
Called up share capital
Issued, called up and fully paid
2020 |
2019 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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11.
Related party transactions
Included within creditors is a loan from Mount Garage Limited in the amount of £206,941 (2019: £251,675) shown above. The loan is unsecured, and currently interest-free. Also included within creditors above is a directors' loan account of £52,767 (2019: £42,033) which is unsecured, repayable on demand and currently interest free. The company occupies premises which are owned by Mount Garage Limited. No rent was charged for the current or previous year.
12.
Control
The company is controlled by Mount Garage Limited by virtue of it owning 100% of the company's issued share capital.
Mount Garage Limited is under the control of
S A Windle
.
13.
Going concern
The parent company is providing on-going financial support to enable the company to continue trading. Consequently, the accounts have been prepared on a going concern basis.