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REGISTERED NUMBER: 08171668 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

OJ MOTORS LTD

OJ MOTORS LTD (REGISTERED NUMBER: 08171668)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


OJ MOTORS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: O T Jupp





REGISTERED OFFICE: Unit 2, Gerston Business Park
Greyfriars Lane
Storrington
Pulborough
West Sussex
RH20 4HE





REGISTERED NUMBER: 08171668 (England and Wales)





ACCOUNTANTS: Galloways Accounting
First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY

OJ MOTORS LTD (REGISTERED NUMBER: 08171668)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,000 15,000
Tangible assets 5 57,294 56,962
67,294 71,962

CURRENT ASSETS
Stocks 11,861 3,511
Debtors 6 23,929 27,507
Cash at bank 84,058 144,383
119,848 175,401
CREDITORS
Amounts falling due within one year 7 61,199 86,914
NET CURRENT ASSETS 58,649 88,487
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,943

160,449

PROVISIONS FOR LIABILITIES - 7,255
NET ASSETS 125,943 153,194

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 125,843 153,094
SHAREHOLDERS' FUNDS 125,943 153,194

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

OJ MOTORS LTD (REGISTERED NUMBER: 08171668)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:





O T Jupp - Director


OJ MOTORS LTD (REGISTERED NUMBER: 08171668)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

OJ Motors Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently carried at fair value, with adjustments through the profit or loss.

OJ MOTORS LTD (REGISTERED NUMBER: 08171668)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 8 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 50,000
AMORTISATION
At 1 April 2022 35,000
Charge for year 5,000
At 31 March 2023 40,000
NET BOOK VALUE
At 31 March 2023 10,000
At 31 March 2022 15,000

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 69,239 77,162 2,454 148,855
Additions 7,365 6,700 - 14,065
At 31 March 2023 76,604 83,862 2,454 162,920
DEPRECIATION
At 1 April 2022 30,950 59,195 1,748 91,893
Charge for year 6,408 6,750 575 13,733
At 31 March 2023 37,358 65,945 2,323 105,626
NET BOOK VALUE
At 31 March 2023 39,246 17,917 131 57,294
At 31 March 2022 38,289 17,967 706 56,962

OJ MOTORS LTD (REGISTERED NUMBER: 08171668)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 7,597 16,596
Other debtors 16,331 10,910
23,928 27,506

Amounts falling due after more than one year:
Other debtors 1 1

Aggregate amounts 23,929 27,507

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 21,397 38,039
Taxation and social security 26,665 33,742
Other creditors 13,137 15,133
61,199 86,914

8. OTHER FINANCIAL COMMITMENTS

At 31 march 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £25,500 (2022: £43,500)