Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mr G Milner 20/09/2016 Mr S Pratten 20/09/2016 Mr G K Staddon 20/09/2016 09 November 2023 The principal activity of the Company during the financial year was the sale of used cars and light motor vehicles. 10384326 2023-04-30 10384326 bus:Director1 2023-04-30 10384326 bus:Director2 2023-04-30 10384326 bus:Director3 2023-04-30 10384326 2022-04-30 10384326 core:CurrentFinancialInstruments 2023-04-30 10384326 core:CurrentFinancialInstruments 2022-04-30 10384326 core:ShareCapital 2023-04-30 10384326 core:ShareCapital 2022-04-30 10384326 core:RetainedEarningsAccumulatedLosses 2023-04-30 10384326 core:RetainedEarningsAccumulatedLosses 2022-04-30 10384326 core:PlantMachinery 2022-04-30 10384326 core:FurnitureFittings 2022-04-30 10384326 core:OfficeEquipment 2022-04-30 10384326 core:PlantMachinery 2023-04-30 10384326 core:FurnitureFittings 2023-04-30 10384326 core:OfficeEquipment 2023-04-30 10384326 bus:OrdinaryShareClass1 2023-04-30 10384326 bus:OrdinaryShareClass2 2023-04-30 10384326 bus:OrdinaryShareClass3 2023-04-30 10384326 bus:OrdinaryShareClass4 2023-04-30 10384326 2022-05-01 2023-04-30 10384326 bus:FullAccounts 2022-05-01 2023-04-30 10384326 bus:SmallEntities 2022-05-01 2023-04-30 10384326 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 10384326 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 10384326 bus:Director1 2022-05-01 2023-04-30 10384326 bus:Director2 2022-05-01 2023-04-30 10384326 bus:Director3 2022-05-01 2023-04-30 10384326 core:PlantMachinery 2022-05-01 2023-04-30 10384326 core:FurnitureFittings 2022-05-01 2023-04-30 10384326 core:OfficeEquipment 2022-05-01 2023-04-30 10384326 2021-05-01 2022-04-30 10384326 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 10384326 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 10384326 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 10384326 bus:OrdinaryShareClass2 2021-05-01 2022-04-30 10384326 bus:OrdinaryShareClass3 2022-05-01 2023-04-30 10384326 bus:OrdinaryShareClass3 2021-05-01 2022-04-30 10384326 bus:OrdinaryShareClass4 2022-05-01 2023-04-30 10384326 bus:OrdinaryShareClass4 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10384326 (England and Wales)

TAVISTOCK MOTOR COMPANY (DEVON) LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

TAVISTOCK MOTOR COMPANY (DEVON) LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

TAVISTOCK MOTOR COMPANY (DEVON) LIMITED

BALANCE SHEET

As at 30 April 2023
TAVISTOCK MOTOR COMPANY (DEVON) LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,625 2,467
2,625 2,467
Current assets
Stocks 399,137 317,060
Debtors 4 18,607 27,181
Cash at bank and in hand 102,573 65,644
520,317 409,885
Creditors: amounts falling due within one year 5 ( 170,359) ( 121,412)
Net current assets 349,958 288,473
Total assets less current liabilities 352,583 290,940
Provision for liabilities ( 613) ( 578)
Net assets 351,970 290,362
Capital and reserves
Called-up share capital 6 200 200
Profit and loss account 351,770 290,162
Total shareholders' funds 351,970 290,362

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Tavistock Motor Company (Devon) Limited (registered number: 10384326) were approved and authorised for issue by the Board of Directors on 09 November 2023. They were signed on its behalf by:

Mr S Pratten
Director
TAVISTOCK MOTOR COMPANY (DEVON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
TAVISTOCK MOTOR COMPANY (DEVON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tavistock Motor Company (Devon) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 6

3. Tangible assets

Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 May 2022 1,769 6,015 410 8,194
Additions 0 594 442 1,036
At 30 April 2023 1,769 6,609 852 9,230
Accumulated depreciation
At 01 May 2022 1,056 4,359 312 5,727
Charge for the financial year 180 564 134 878
At 30 April 2023 1,236 4,923 446 6,605
Net book value
At 30 April 2023 533 1,686 406 2,625
At 30 April 2022 713 1,656 98 2,467

4. Debtors

2023 2022
£ £
Trade debtors 12,774 19,346
Other debtors 5,833 7,835
18,607 27,181

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 87,644 42,496
Amounts owed to directors 15,494 18,347
Accruals 13,686 12,670
Taxation and social security 51,731 46,789
Other creditors 1,804 1,110
170,359 121,412

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
90 A ordinary shares of £ 1.00 each 90 90
90 B ordinary shares of £ 1.00 each 90 90
10 C ordinary shares of £ 1.00 each 10 10
10 D ordinary shares of £ 1.00 each 10 10
200 200

7. Financial commitments

Other financial commitments

2023 2022
£ £
The total amount of financial commitments not included in the balance sheet 1,750 28,700