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Registered Number: 08375806
England and Wales

 

 

 

CROWTHER LODGE MOTOR COMPANY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 35,211    40,766 
35,211    40,766 
Current assets      
Stocks 4 1,257,912    1,035,923 
Debtors 5 91,849    22,811 
Cash at bank and in hand 221,123    128,127 
1,570,884    1,186,861 
Creditors: amount falling due within one year 6 (990,997)   (870,160)
Net current assets 579,887    316,701 
 
Total assets less current liabilities 615,098    357,467 
Creditors: amount falling due after more than one year 7 (250,891)   (38,179)
Net assets 364,207    319,288 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 364,107    319,188 
Shareholder's funds 364,207    319,288 
 


For the year ended 31 January 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 19 October 2023 and were signed on its behalf by:


-------------------------------
Paul Peacock
Director
1
General Information
Crowther Lodge Motor Company Limited is a private company, limited by shares, registered in England and Wales, registration number 08375806, registration address Park Road, Felling by Pass, Gateshead, NE30 4PB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
As with most businesses the company has been impacted by the Coronavirus (Covid-19). This has had an impact on operations. The Company is taking the steps it can to protect the future of the business and although the total impact is still uncertain the directors believe that it is appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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 15% Reducing Balance
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.
2.

Average number of employees

Average number of employees during the year was 12 (2022 : 9).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 February 2022 121,752    121,752 
Additions 659    659 
Disposals  
At 31 January 2023 122,411    122,411 
Depreciation
At 01 February 2022 80,986    80,986 
Charge for year 6,214    6,214 
On disposals  
At 31 January 2023 87,200    87,200 
Net book values
Closing balance as at 31 January 2023 35,211    35,211 
Opening balance as at 01 February 2022 40,766    40,766 


4.

Stocks

2023
£
  2022
£
Stocks 1,257,912    1,035,923 
1,257,912    1,035,923 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 62,854   
Prepayments & Accrued Income 8,143    10,626 
VAT 20,852    12,185 
91,849    22,811 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 60,929    59,692 
Corporation Tax 26,115    48,449 
PAYE & Social Security 9,410    2,030 
Pension control 1,413    1,056 
MotoNovo & BCA 826,950    680,948 
Funding circle 38,179    49,984 
Directors' Current Accounts 28,001    28,001 
990,997    870,160 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Funding circle   38,179 
Loan 250,891   
250,891    38,179 

8.

Directors advances, credits and guarantees

Included in creditors: amounts falling due within one year are amounts owed to Directors of £28,001 (2022 - £28,001)
9.

Controlling party

For the whole of the period under review the company was under the control of Mr John Houckham and Mr Paul Peacock.
2