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REGISTERED NUMBER: 05069573 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 March 2023

for

S A V Motors Ltd

S A V Motors Ltd (Registered number: 05069573)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S A V Motors Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr L Gordon
Mrs E Gordon





REGISTERED OFFICE: 2a Harding Way
St Ives
Cambridgeshire
PE27 3WR





REGISTERED NUMBER: 05069573 (England and Wales)





ACCOUNTANTS: George Hay Partnership LLP
Chartered Accountants
St George's House
George Street
Huntingdon
Cambridgeshire
PE29 3GH

S A V Motors Ltd (Registered number: 05069573)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 245,000 246,564
Investments 5 3 3
245,003 246,567

CURRENT ASSETS
Stocks 8,000 8,000
Debtors 6 325,616 350,811
Cash at bank and in hand 132,543 88,183
466,159 446,994
CREDITORS
Amounts falling due within one year 7 190,312 195,808
NET CURRENT ASSETS 275,847 251,186
TOTAL ASSETS LESS CURRENT
LIABILITIES

520,850

497,753

CREDITORS
Amounts falling due after more than one
year

8

(137,963

)

(169,446

)

PROVISIONS FOR LIABILITIES - (297 )
NET ASSETS 382,887 328,010

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 382,787 327,910
382,887 328,010

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 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.

S A V Motors Ltd (Registered number: 05069573)

Balance Sheet - 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 Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:





Mr L Gordon - Director


S A V Motors Ltd (Registered number: 05069573)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

S A V 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about S A V Motors Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 Statement of Income and Retained Earnings, 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.

S A V Motors Ltd (Registered number: 05069573)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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 14 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 281,110 104,403 385,513
DEPRECIATION
At 1 April 2022 36,110 102,839 138,949
Charge for year - 1,564 1,564
At 31 March 2023 36,110 104,403 140,513
NET BOOK VALUE
At 31 March 2023 245,000 - 245,000
At 31 March 2022 245,000 1,564 246,564

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 3
NET BOOK VALUE
At 31 March 2023 3
At 31 March 2022 3

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 34,620 49,744
Amounts owed by group undertakings 68,487 301,067
Other debtors 196,086 -
299,193 350,811

S A V Motors Ltd (Registered number: 05069573)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 26,423 -

Aggregate amounts 325,616 350,811

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,275 26,296
Trade creditors 42,929 47,082
Taxation and social security 105,079 84,558
Other creditors 10,029 37,872
190,312 195,808

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 137,963 169,446

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr L Gordon and Mrs E Gordon
Balance outstanding at start of year (778 ) (778 )
Amounts advanced 193,067 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 192,289 (778 )