STANBRIDGE MOTORS (RUGBY) LIMITED - Accounts

STANBRIDGE MOTORS (RUGBY) LIMITED - Accounts

STANBRIDGE MOTORS (RUGBY) LIMITED - Company Information

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Registered Number: 07771206
England and Wales

 

 

 

STANBRIDGE MOTORS (RUGBY) LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023

STANBRIDGE MOTORS (RUGBY) LIMITED
Contents Page
For the year ended 30 September 2023
Director Carl Burrows
Registered Number 07771206
Registered Office 8 Cottage Leap
Rugby
Warwickshire
CV21 3XP
Accountants Beagle Accounting Limited
23a High Street
Welford
Northants
NN6 6HT
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 September 2023.
Principal activities
Principal activity of the company during the financial year was of motor repairs and servicing.
Directors
The directors who served the company throughout the year were as follows:
Carl Burrows
Alan Faulkner
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Carl Burrows
Director

Date approved: 12 February 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 September 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Beagle Accounting Limited
30 September 2023



....................................................
Beagle Accounting Limited
23a High Street
Welford
Northants
NN6 6HT
12 February 2024
3
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Intangible fixed assets 3 82,560    92,880 
Tangible fixed assets 4 32,929    33,911 
115,489    126,791 
Current assets      
Stocks 5 10,000    10,000 
Debtors 6 36,037    48,355 
Cash at bank and in hand 79,587    71,373 
125,624    129,728 
Creditors: amount falling due within one year 7 (99,311)   (91,397)
Net current assets 26,313    38,331 
 
Total assets less current liabilities 141,802    165,122 
Creditors: amount falling due after more than one year 8 (2,867)   (6,947)
Provisions for liabilities 9 (1,232)   (985)
Net assets 137,703    157,190 
 

Capital and reserves 		     
Called up share capital 10 4    4 
Profit and loss account 137,699    157,186 
Shareholder's funds 137,703    157,190 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 12 February 2024 and were signed on its behalf by:


-------------------------------
Carl Burrows
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 October 2021 4  170,323  170,327 
Profit for the year 119,763  119,763 
Total comprehensive income for the year -  119,763  119,763 
Dividends (132,900) (132,900)
Total investments by and distributions to owners -  (132,900) (132,900)
At 30 September 2022 4  157,186  157,190 
At 01 October 2022 4  157,186  157,190 
Profit for the year 137,538  137,538 
Total comprehensive income for the year -  137,538  137,538 
Dividends (157,025) (157,025)
Total investments by and distributions to owners -  (157,025) (157,025)
At 30 September 2023 4  137,699  137,703 
5
General Information
STANBRIDGE MOTORS (RUGBY) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07771206, registration address 8 Cottage Leap, Rugby, Warwickshire, CV21 3XP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 18 Reducing Balance
Motor Vehicles 18 Reducing Balance
Computer Equipment 18 Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 9 (2022 : 9).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 October 2022 103,200    103,200 
Additions -    - 
Disposals -    - 
At 30 September 2023 103,200    103,200 
Amortisation
At 01 October 2022 10,320    10,320 
Charge for year 10,320    10,320 
On disposals -    - 
At 30 September 2023 20,640    20,640 
Net book values
At 30 September 2023 82,560    82,560 
At 30 September 2022 92,880    92,880 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 October 2022 151,018    18,446    -    4,305    173,769 
Additions -    3,500    2,495    -    5,995 
Disposals -    -    -    -    - 
At 30 September 2023 151,018    21,946    2,495    4,305    179,764 
Depreciation
At 01 October 2022 127,530    9,579    -    2,749    139,858 
Charge for year 4,228    2,224    245    280    6,977 
On disposals -    -    -    -    - 
At 30 September 2023 131,758    11,803    245    3,029    146,835 
Net book values
Closing balance as at 30 September 2023 19,260    10,143    2,250    1,276    32,929 
Opening balance as at 01 October 2022 23,488    8,867    -    1,556    33,911 


5.

Stocks

2023
£		   2022
£
Stocks 10,000    10,000 
10,000    10,000 

6.

Debtors: amounts falling due within one year

2023
£		   2022
£
Trade Debtors 26,411    38,729 
Other Debtors 9,625    9,625 
Directors' Current Accounts 1    1 
36,037    48,355 

7.

Creditors: amount falling due within one year

2023
£		   2022
£
Trade Creditors 36,973    47,566 
Corporation Tax 41,691    25,837 
PAYE & Social Security 3,379    3,463 
Accrued Expenses 400    400 
Other Creditors 0    1 
Obligations under HP/Financial Leases 5,407    6,733 
Wages & Salaries Control Account 0    (275)
VAT 11,461    7,672 
99,311    91,397 

8.

Creditors: amount falling due after more than one year

2023
£		   2022
£
Obligations Under HP/Financial Leases 2,867    6,947 
2,867    6,947 

9.

Provisions for liabilities

2023
£		   2022
£
Pension Provisions 1,232    985 
1,232    985 

10.

Share Capital

Allotted, called up and fully paid
2023
£		   2022
£
4 Class A shares of £1.00 each 4    4 
4    4 

6