Auto Repairs (Horwich) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06264559 (England and Wales)

Auto Repairs (Horwich) Limited

Unaudited Financial Statements for the Year Ended 31 May 2023

Page

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

Directors:

Kevin Smith

Susan Jane Smith

Secretary:

Susan Jane Smith

Registered office:

Unit 11

Pearl Brook Industrial Estate

Horwich

Bolton

BL6 5PX

Registered number:

06264559 (England and Wales)

Accountants:

Leach Briely

Craven House

32 Lee Lane

Horwich

Bolton

BL6 7BY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Auto Repairs (Horwich) Limited for the year ended 31 May 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Auto Repairs (Horwich) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Auto Repairs (Horwich) Limited and state those matters that we have agreed to state to the Board of Directors of Auto Repairs (Horwich) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Auto Repairs (Horwich) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Auto Repairs (Horwich) Limited. You consider that Auto Repairs (Horwich) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Auto Repairs (Horwich) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Leach Briely

Craven House

32 Lee Lane

Horwich

Bolton

BL6 7BY

26 February 2024

Fixed assets

Intangible assets

4

75,000

75,000

Tangible assets

5

2,458

3,197

77,458

78,197

Current assets

Stocks

1,500

1,500

Debtors

6

15,806

852

Cash at bank and in hand

41,360

40,900

58,666

43,252

Creditors

Amounts falling due within one year

7

68,443

68,625

Net current liabilities

(9,777

)

(25,373

)

Total assets less current liabilities

67,681

52,824

Provisions for liabilities

8

467

608

Net assets

67,214

52,216

Capital and reserves

Called up share capital

9

100

100

Retained earnings

67,114

52,116

Shareholders' funds

67,214

52,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2024 and were signed on its behalf by:

Kevin Smith - Director

1.	Statutory information

Auto Repairs (Horwich) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover represents the total value, excluding value added tax, of repairs and servicing of motor vehicles carried out by the company during the year.

Goodwill

Amortisation of goodwill has not been provided for by the company, as in the opinion of the directors it has indefinite useful economic life. The accounting policy departs from the usual requirements of FRS 102 to amortise goodwill over a finite period. The effect of the departure is that amortisation as required by the requirements of FRS 102 has not been accounted for. If amortisation has been accounted for the charge for the year would have amounted to £7,500 and profit for the year reduced accordingly.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks

Stock is measured at estimated cost.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and 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 the statement of income and retained earnings.

Taxation

The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.	Employees and directors

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

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 June 2022

and 31 May 2023

75,000

Net book value

At 31 May 2023

75,000

At 31 May 2022

75,000

5.	Tangible fixed assets

Plant and

machinery

£

Cost

At 1 June 2022

and 31 May 2023

13,767

Depreciation

At 1 June 2022

10,570

Charge for year

739

At 31 May 2023

11,309

Net book value

At 31 May 2023

2,458

At 31 May 2022

3,197

6.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

15,806

852

7.

Creditors: amounts falling due within one year

2023

2022

£

£

Trade creditors

6,832

6,225

Taxation and social security

38,234

34,799

Other creditors

23,377

27,601

68,443

68,625

8.	Provisions for liabilities

2023

2022

£

£

Deferred tax

467

608

Deferred

tax

£

Balance at 1 June 2022

608

Credit to Statement of Income and Retained Earnings during year

(141

)

Balance at 31 May 2023

467

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary shares

1.00

100

100