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Registered number: 04633362










CONISBROUGH MOTOR COMPANY LIMITED

Unaudited
Financial statements
Information for filing with the registrar
For the year ended 31 July 2023

 
CONISBROUGH MOTOR COMPANY LIMITED
 

Company Information


Directors
G D Sumner 
A M Sumner 




Company secretary
Mrs K A Sumner



Registered number
04633362



Registered office
Sheffield Road
Conisbrough

Doncaster

South Yorkshire

DN12 2BY





 
CONISBROUGH MOTOR COMPANY LIMITED
Registered number: 04633362

Balance sheet
As at 31 July 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,011
2,520

  
2,011
2,520

Current assets
  

Stocks
  
171,020
168,600

Debtors
 6 
66,254
42,797

Cash at bank and in hand
  
8,136
49,202

  
245,410
260,599

Creditors: amounts falling due within one year
 7 
(72,179)
(69,032)

Net current assets
  
 
 
173,231
 
 
191,567

Total assets less current liabilities
  
175,242
194,087

Creditors: amounts falling due after more than one year
 8 
(19,167)
(29,167)

Net assets
  
156,075
164,920


Capital and reserves
  

Called up share capital 
 9 
1,000
1,000

Profit and loss account
  
155,075
163,920

  
156,075
164,920


Page 1

 
CONISBROUGH MOTOR COMPANY LIMITED
Registered number: 04633362

Balance sheet (continued)
As at 31 July 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 October 2023.






G D Sumner
A M Sumner
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CONISBROUGH MOTOR COMPANY LIMITED
 

 
Notes to the financial statements
For the year ended 31 July 2023

1.


General information

Conisbrough Motor Company Limited is a private company limited by shares incorporated in England within the United Kingdom.  The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
CONISBROUGH MOTOR COMPANY LIMITED
 

 
Notes to the financial statements
For the year ended 31 July 2023

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and equipment
-
10%
Computer equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
CONISBROUGH MOTOR COMPANY LIMITED
 

 
Notes to the financial statements
For the year ended 31 July 2023

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 -8).

Page 5

 
CONISBROUGH MOTOR COMPANY LIMITED
 

 
Notes to the financial statements
For the year ended 31 July 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 August 2022
30,000



At 31 July 2023

30,000



Amortisation


At 1 August 2022
30,000



At 31 July 2023

30,000



Net book value



At 31 July 2023
-



At 31 July 2022
-




5.


Tangible fixed assets





Fixtures & equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 August 2022
19,789
11,300
31,089



At 31 July 2023

19,789
11,300
31,089



Depreciation


At 1 August 2022
17,509
11,060
28,569


Charge for the year on owned assets
349
160
509



At 31 July 2023

17,858
11,220
29,078



Net book value



At 31 July 2023
1,931
80
2,011



At 31 July 2022
2,280
240
2,520

Page 6

 
CONISBROUGH MOTOR COMPANY LIMITED
 

 
Notes to the financial statements
For the year ended 31 July 2023

6.


Debtors

2023
2022
£
£


Trade debtors
42,311
15,321

Other debtors
21,485
22,168

Prepayments and accrued income
2,457
5,308

66,253
42,797



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Other loans
8,303
5,458

Trade creditors
13,820
16,046

Taxation and social security
35,174
33,145

Accruals and deferred income
4,882
4,383

72,179
69,032



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
19,167
29,167

19,167
29,167


Included in bank loans is £29,167 (2022 £39,167) supported by the Bounce Back Loan Scheme managed by the British Business Bank which is repayable in instalments over six years with and interest rate of 2.5%.

Page 7

 
CONISBROUGH MOTOR COMPANY LIMITED
 

 
Notes to the financial statements
For the year ended 31 July 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 -1,000) Ordinary shares of £1.00 each
1,000
1,000



10.


Commitments under operating leases

At 31 July 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
24,000
24,000

Later than 1 year and not later than 5 years
18,000
42,000

42,000
66,000


11.


Related party transactions

The company operates current accounts with the directors.  The current accounts are unsecured, interest free and repayable on demand.  The balance outstanding at the year end included in other debtors due within one year was £21,485 (2022 - £22,617).


Page 8