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REGISTERED NUMBER: 02684065 (England and Wales)












FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2021

FOR

BEDALE MOTOR FACTORS LIMITED

BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2021




Page

Balance Sheet 1

Notes to the Financial Statements 3


BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

BALANCE SHEET
30TH NOVEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 160,082 174,035

CURRENT ASSETS
Stocks 5 224,393 204,441
Debtors 6 339,608 323,811
Cash at bank and in hand 235,257 158,969
799,258 687,221
CREDITORS
Amounts falling due within one year 7 699,759 596,539
NET CURRENT ASSETS 99,499 90,682
TOTAL ASSETS LESS CURRENT
LIABILITIES

259,581

264,717

CREDITORS
Amounts falling due after more than one
year

8

(69,691

)

(78,821

)

PROVISIONS FOR LIABILITIES (6,829 ) (8,909 )
NET ASSETS 183,061 176,987

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 10 83,061 76,987
SHAREHOLDERS' FUNDS 183,061 176,987

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2021 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.

BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

BALANCE SHEET - continued
30TH NOVEMBER 2021


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 28th April 2022 and were signed on its behalf by:





R W Jenkins - Director


BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2021

1. STATUTORY INFORMATION

Bedale Motor Factors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02684065

Registered office: Tutin Road
Leeming Bar Industrial Estate
Leeming bar
Northallerton
North Yorkshire
DL7 9DQ

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2021

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 19 (2020 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st December 2020 189,304 20,287 21,621
Additions - - -
Disposals - - -
At 30th November 2021 189,304 20,287 21,621
DEPRECIATION
At 1st December 2020 62,370 18,652 19,531
Charge for year 2,970 246 210
Eliminated on disposal - - -
At 30th November 2021 65,340 18,898 19,741
NET BOOK VALUE
At 30th November 2021 123,964 1,389 1,880
At 30th November 2020 126,934 1,635 2,090

BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2021

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st December 2020 112,925 18,859 362,996
Additions - 2,177 2,177
Disposals (24,255 ) - (24,255 )
At 30th November 2021 88,670 21,036 340,918
DEPRECIATION
At 1st December 2020 69,549 18,859 188,961
Charge for year 10,405 544 14,375
Eliminated on disposal (22,500 ) - (22,500 )
At 30th November 2021 57,454 19,403 180,836
NET BOOK VALUE
At 30th November 2021 31,216 1,633 160,082
At 30th November 2020 43,376 - 174,035

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st December 2020
and 30th November 2021 28,782
DEPRECIATION
Charge for year 4,965
At 30th November 2021 4,965
NET BOOK VALUE
At 30th November 2021 23,817
At 30th November 2020 28,782

5. STOCKS
2021 2020
£    £   
Stocks 224,393 204,441

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 339,608 321,856
Other debtors - 1,955
339,608 323,811

BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other loans 7,500 22,500
Hire purchase contracts 9,158 15,681
Trade creditors 355,482 296,598
Corporation tax 20,467 24,970
Social security and other taxes 62,380 71,251
Directors' current accounts 239,037 160,441
Accruals and deferred income 5,735 5,098
699,759 596,539

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Other loans - 2-5 years 65,000 65,000
Hire purchase contracts 4,691 13,821
69,691 78,821

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts 13,849 29,502

10. RESERVES
Retained
earnings
£   

At 1st December 2020 76,987
Profit for the year 76,074
Dividends (70,000 )
At 30th November 2021 83,061

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors continue to support the company with finance, and consider their loan accounts with the company to be semi-permanent and as such are classified as long term, apart from the amounts anticipated to be drawn within one year which are included in current liabilities.
The total amount owed to the directors was £311,537 (2020 £247,941).

12. RELATED PARTY DISCLOSURES

The controlling party is R W Jenkins.

Mr R W jenkins is the ultimate controlling party of the company by virtue of his shareholding within the company. He also has a long term loan to the company which is interest free and is not immediately repayable.