P__W_Auto_Services_Limited_30_Sep_2023_companies_house_set_of_accounts.html
P__W_Auto_Services_Limited_30_Sep_2023_companies_house_set_of_accounts.html
Company registration number:
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of P & W Auto Services Limited
Year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P & W Auto Services Limited for the year ended 30 September 2023 which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of P & W Auto Services Limited , as a body. Our work has been undertaken solely to prepare for your approval the financial statements of P & W Auto Services Limited and state those matters that we have agreed to state to the Board of Directors of P & W Auto Services Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P & W Auto Services Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that P & W Auto Services 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 loss of P & W Auto Services Limited . You consider that P & W Auto Services Limited is exempt from the statutory audit requirement for the year.
Office 16, Hamilton Davies House117c Liverpool RoadCadisheadManchesterM44 5BGUnited Kingdom
Date:
17 June 2024
Statement of Financial Position
| 2023 | 2022 | ||||
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| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 6 |
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| Current assets | |||||
| Stocks |
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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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| Net current liabilities |
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| Total assets less current liabilities | 34,317 | 17,934 | |||
| Creditors: amounts falling due after more than one year | 9 |
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| Net liabilities |
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| Capital and reserves | |||||
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| Profit and loss account |
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| Shareholders deficit |
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For the year ending 30 September 2023 , the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 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.
These financial statements were approved by the board of directors and authorised for issue on 17 June 2024 , and are signed on behalf of the board by:
| Director |
Company registration number:
08997181
Notes to the Financial Statements
Year ended 30 September 2023
1 General information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Office 16, Hamilton Davies House , 117c Liverpool Road , Cadishead , Manchester , M44 5BG , United Kingdom.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.
3 Accounting policies
Basis of preparation
Turnover
Intangible assets
Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
| Other intangible assets |
Tangible assets
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses .
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
| Plant and machinery | |
| Motor vehicles | |
| Office equipment | |
| Land and buildings |
Impairment
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Hire purchase contracts
Government grants
Defined contribution pension plan
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
Operating leases
4 Average number of employees
The average number of persons employed by the company during the year was 4 (2022: 4.00 ).
5 Intangible assets
| Other intangible assets | ||
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| Cost | ||
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| Carrying amount | ||
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| At 30 September 2022 | - | |
6 Tangible assets
| Land and buildings | Plant and machinery etc. | Total | ||||
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| £ | £ | £ | ||||
| Cost | ||||||
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| Additions | - |
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| Carrying amount | ||||||
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| At 30 September 2022 |
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7 Debtors
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Trade debtors |
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| Other debtors |
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8 Creditors: amounts falling due within one year
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Bank loans and overdrafts |
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| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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9 Creditors: amounts falling due after more than one year
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Bank loans and overdrafts |
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| Other creditors |
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10 Operating leases
| The company as lessee | ||||
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Later than 1 year and not later than 5 years | ||||
11 Guarantees and other financial commitments
The directors have guaranteed amounts outstanding to 365 Business Services. The amount at the end of the year was £7503
12 Directors' advances, credit and guarantees
Included in debtors is an amount of a loan to Mrs Patricia Pallister of £51209 of which £12,500 was repaid within 9 months