E&M MOTOR FACTORS LIMITED

E&M MOTOR FACTORS LIMITED - Company Information

2021-07-012022-06-302022-06-30false06632688E&M MOTOR FACTORS LIMITED2023-03-2145310iso4217:GBPxbrli:pure066326882021-07-01066326882022-06-30066326882021-07-012022-06-30066326882020-07-01066326882021-06-30066326882020-07-012021-06-3006632688bus:SmallEntities2021-07-012022-06-3006632688bus:AuditExempt-NoAccountantsReport2021-07-012022-06-3006632688bus:FullAccounts2021-07-012022-06-3006632688bus:PrivateLimitedCompanyLtd2021-07-012022-06-3006632688core:WithinOneYear2022-06-3006632688core:AfterOneYear2022-06-3006632688core:WithinOneYear2021-06-3006632688core:AfterOneYear2021-06-3006632688core:ShareCapital2022-06-3006632688core:SharePremium2022-06-3006632688core:RevaluationReserve2022-06-3006632688core:OtherReservesSubtotal2022-06-3006632688core:RetainedEarningsAccumulatedLosses2022-06-3006632688core:ShareCapital2021-06-3006632688core:SharePremium2021-06-3006632688core:RevaluationReserve2021-06-3006632688core:OtherReservesSubtotal2021-06-3006632688core:RetainedEarningsAccumulatedLosses2021-06-3006632688core:LandBuildings2022-06-3006632688core:PlantMachinery2022-06-3006632688core:Vehicles2022-06-3006632688core:FurnitureFittings2022-06-3006632688core:OfficeEquipment2022-06-3006632688core:NetGoodwill2022-06-3006632688core:IntangibleAssetsOtherThanGoodwill2022-06-3006632688core:ListedExchangeTraded2022-06-3006632688core:UnlistedNon-exchangeTraded2022-06-3006632688core:LandBuildings2021-06-3006632688core:PlantMachinery2021-06-3006632688core:Vehicles2021-06-3006632688core:FurnitureFittings2021-06-3006632688core:OfficeEquipment2021-06-3006632688core:NetGoodwill2021-06-3006632688core:IntangibleAssetsOtherThanGoodwill2021-06-3006632688core:ListedExchangeTraded2021-06-3006632688core:UnlistedNon-exchangeTraded2021-06-3006632688core:LandBuildings2021-07-012022-06-3006632688core:PlantMachinery2021-07-012022-06-3006632688core:Vehicles2021-07-012022-06-3006632688core:FurnitureFittings2021-07-012022-06-3006632688core:OfficeEquipment2021-07-012022-06-3006632688core:NetGoodwill2021-07-012022-06-3006632688core:IntangibleAssetsOtherThanGoodwill2021-07-012022-06-3006632688core:ListedExchangeTraded2021-07-012022-06-3006632688core:UnlistedNon-exchangeTraded2021-07-012022-06-3006632688core:MoreThanFiveYears2021-07-012022-06-3006632688core:Non-currentFinancialInstruments2022-06-3006632688core:Non-currentFinancialInstruments2021-06-3006632688dpl:CostSales2021-07-012022-06-3006632688dpl:DistributionCosts2021-07-012022-06-3006632688dpl:AdministrativeExpenses2021-07-012022-06-3006632688core:LandBuildings2021-07-012022-06-3006632688core:PlantMachinery2021-07-012022-06-3006632688core:Vehicles2021-07-012022-06-3006632688core:FurnitureFittings2021-07-012022-06-3006632688core:OfficeEquipment2021-07-012022-06-3006632688core:NetGoodwill2021-07-012022-06-3006632688core:IntangibleAssetsOtherThanGoodwill2021-07-012022-06-3006632688dpl:GroupUndertakings2021-07-012022-06-3006632688dpl:ParticipatingInterests2021-07-012022-06-3006632688dpl:GroupUndertakingscore:ListedExchangeTraded2021-07-012022-06-3006632688core:ListedExchangeTraded2021-07-012022-06-3006632688dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-07-012022-06-3006632688core:UnlistedNon-exchangeTraded2021-07-012022-06-3006632688dpl:CostSales2020-07-012021-06-3006632688dpl:DistributionCosts2020-07-012021-06-3006632688dpl:AdministrativeExpenses2020-07-012021-06-3006632688core:LandBuildings2020-07-012021-06-3006632688core:PlantMachinery2020-07-012021-06-3006632688core:Vehicles2020-07-012021-06-3006632688core:FurnitureFittings2020-07-012021-06-3006632688core:OfficeEquipment2020-07-012021-06-3006632688core:NetGoodwill2020-07-012021-06-3006632688core:IntangibleAssetsOtherThanGoodwill2020-07-012021-06-3006632688dpl:GroupUndertakings2020-07-012021-06-3006632688dpl:ParticipatingInterests2020-07-012021-06-3006632688dpl:GroupUndertakingscore:ListedExchangeTraded2020-07-012021-06-3006632688core:ListedExchangeTraded2020-07-012021-06-3006632688dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-07-012021-06-3006632688core:UnlistedNon-exchangeTraded2020-07-012021-06-3006632688core:NetGoodwill2022-06-3006632688core:IntangibleAssetsOtherThanGoodwill2022-06-3006632688core:LandBuildings2022-06-3006632688core:PlantMachinery2022-06-3006632688core:Vehicles2022-06-3006632688core:FurnitureFittings2022-06-3006632688core:OfficeEquipment2022-06-3006632688core:AfterOneYear2022-06-3006632688core:WithinOneYear2022-06-3006632688core:ListedExchangeTraded2022-06-3006632688core:UnlistedNon-exchangeTraded2022-06-3006632688core:ShareCapital2022-06-3006632688core:SharePremium2022-06-3006632688core:RevaluationReserve2022-06-3006632688core:OtherReservesSubtotal2022-06-3006632688core:RetainedEarningsAccumulatedLosses2022-06-3006632688core:NetGoodwill2021-06-3006632688core:IntangibleAssetsOtherThanGoodwill2021-06-3006632688core:LandBuildings2021-06-3006632688core:PlantMachinery2021-06-3006632688core:Vehicles2021-06-3006632688core:FurnitureFittings2021-06-3006632688core:OfficeEquipment2021-06-3006632688core:AfterOneYear2021-06-3006632688core:WithinOneYear2021-06-3006632688core:Liste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Registered Number
06632688
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2022

E&M MOTOR FACTORS LIMITED

Company Information
for the year from 1 July 2021 to 30 June 2022


Directors	EVANS, Dafydd Edryd
	MORGAN, William Eilir


Registered Address	C/O Patterson Jones & Evans 23 College Street
	Lampeter
	Ceredigion
	SA48 7DY


Registered Number	06632688 (England and Wales)

E&M MOTOR FACTORS LIMITED

Balance Sheet as at
30 June 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	5		160,035		142,461
			160,035		142,461
Current assets
Stocks	7	1,203,240		1,042,670
Debtors	8	775,628		684,030
Cash at bank and on hand		1,255,305		931,191
		3,234,173		2,657,891
Creditors amounts falling due within one year	9	(781,555)		(673,435)
Net current assets (liabilities)			2,452,618		1,984,456
Total assets less current liabilities			2,612,653		2,126,917
Provisions for liabilities	10		(37,218)		(30,978)
Net assets			2,575,435		2,095,939
Capital and reserves
Called up share capital			24,876		24,876
Profit and loss account			2,550,559		2,071,063
Shareholders' funds			2,575,435		2,095,939

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 21 March 2023, and are signed on its behalf by:

EVANS, Dafydd Edryd
Director
Registered Company No. 06632688

E&M MOTOR FACTORS LIMITED

Notes to the Financial Statements
for the year ended 30 June 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	20
	Vehicles	25

	Stocks policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Going concern
	These financial statements have been prepared on a going concern basis.

4.	Employee information


		2022		2021
	Average number of employees during the year	34		30

5.	Property, plant and equipment

	Plant & machinery	Vehicles	Total
	£	£	£
Cost or valuation
At 01 July 21	188,853	143,775	332,628
Additions	300	54,040	54,340
Disposals	-	(3,550)	(3,550)
At 30 June 22	189,153	194,265	383,418
Depreciation and impairment
At 01 July 21	121,542	68,625	190,167
Charge for year	10,626	24,642	35,268
On disposals	-	(2,052)	(2,052)
At 30 June 22	132,168	91,215	223,383
Net book value
At 30 June 22	56,985	103,050	160,035
At 30 June 21	67,311	75,150	142,461

6.	Description of nature of transactions and balances with related parties
	As at the balance sheet date the company owed its directors £406 (2021: £97). No interest is charged and the amount is repayable in full on demand.

7.	Stocks

	2022	2021
	£	£
Other stocks	1,203,240	1,042,670
Total	1,203,240	1,042,670

8.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	671,821	598,010
Other debtors	12,206	8,461
Prepayments and accrued income	91,601	77,559
Total	775,628	684,030


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

9.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	515,108	451,311
Taxation and social security	218,700	173,323
Other creditors	406	97
Accrued liabilities and deferred income	47,341	48,704
Total	781,555	673,435


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

10.	Provisions for liabilities

	2022	2021
	£	£
Net deferred tax liability (asset)	37,218	30,978
Total	37,218	30,978