Northern Automotive Alliance Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04895079 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

NORTHERN AUTOMOTIVE ALLIANCE LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

S M Williams

W T K Jacklin

D P Jones

M J Kershaw

SECRETARY:

D P Jones

REGISTERED OFFICE:

AMRC North West

Roy Chadwick Way

Salmesbury Enterprise Zone

Blackburn

Lancashire

BB2 7HP

REGISTERED NUMBER:

04895079 (England and Wales)

AUDITORS:

Fairhurst

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Intangible assets

4

5,231

6,538

CURRENT ASSETS

Stocks

100

100

Debtors

5

52,192

22,365

Cash at bank and in hand

138,480

132,629

190,772

155,094

CREDITORS

Amounts falling due within one year

6

53,629

78,613

NET CURRENT ASSETS

137,143

76,481

TOTAL ASSETS LESS CURRENT LIABILITIES

142,374

83,019

CREDITORS

Amounts falling due after more than one year

7

17,130

19,908

NET ASSETS

125,244

63,111

RESERVES

Income and expenditure account

125,244

63,111

125,244

63,111

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:

D P Jones - Director

1.	STATUTORY INFORMATION

Northern Automotive Alliance Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the time of approving the financial statements, the directors have every expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Income and funding receivable

Income from fundraising events and membership fees are accounted for on an accruals basis and recorded net of VAT.

Income in respect of consultancy and training provided is accounted for when the right to income has passed.

Government funding and other grants receivable are also accounted for on an accruals basis and income is recognised once the corresponding expenditure has been defrayed.

Amortisation

Amortisation is provided to write off the cost of web-site design costs at a rate of 20% per annum on a reducing balance basis.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Short term financial assets and liabilities, including trade and other debtors, cash and bank balances and trade and other creditors, are measured at the transaction price. Financial assets and liabilities that have no stated interest rate and are recoverable within one year shall be measured at their undiscounted value.

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.

Corporation tax

There is no provision for Corporation Tax as HMRC have recognised the company as a non-profit making entity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2022

and 31 March 2023

43,548

AMORTISATION

At 1 April 2022

37,010

Charge for year

1,307

At 31 March 2023

38,317

NET BOOK VALUE

At 31 March 2023

5,231

At 31 March 2022

6,538

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

28,544

21,050

Other debtors

23,648

1,315

52,192

22,365

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

2,778

2,778

Trade creditors

109

3,599

Social security and other taxes

8,811

14,161

Other creditors

41,931

58,075

53,629

78,613

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans - 1-2 years

2,778

2,778

Bank loans - 2-5 years

14,352

17,130

17,130

19,908

8.	SECURED DEBTS

Santander UK Plc hold a fixed and floating charge dated 21 February 2019 covering all the property or undertaking of the company.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mrs Jane Dennis BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Fairhurst

10.	LIMITED BY GUARANTEE

The liability of the members is limited.

Every member of the Company undertakes to contribute such amount as may be required (not exceeding £1) to the assets of the Company if it should be wound up whilst he is a member or within one year after he ceases to be a member.