GMC MOTORS LTD

Company Registration Number:
NI652308 (Northern Ireland)

Unaudited abridged accounts for the year ended 30 April 2023

Period of accounts

Start date: 01 May 2022

End date: 30 April 2023

GMC MOTORS LTD

Contents of the Financial Statements

for the Period Ended 30 April 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

GMC MOTORS LTD

Company Information

for the Period Ended 30 April 2023




Director: Michael Gallen
Registered office: 44
Castlebane Road
Castlederg
GB-NIR
BT81 7NG
Company Registration Number: NI652308 (Northern Ireland)

GMC MOTORS LTD

Directors' Report Period Ended 30 April 2023

The directors present their report with the financial statements of the company for the period ended 30 April 2023

Principal Activities

The company's principal activity during the period was the selling of used cars and commercial vehicles

Company policy on the employment of disabled persons

The company policy is to employ disabled people wherever practical

Directors

The directors shown below have held office during the whole of the period from 01 May 2022 to 30 April 2023
Michael Gallen

This report was approved by the board of directors on 16 November 2023
And Signed On Behalf Of The Board By:

Name: Michael Gallen
Status: Director

GMC MOTORS LTD

Profit and Loss Account

for the Period Ended 30 April 2023


Notes

2023
£

2022
£
Gross Profit or (Loss) 101,352 20,565
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 22,377 ) ( 7,901 )
Administrative Expenses ( 66,902 ) ( 8,049 )
Operating Profit or (Loss) 12,073 4,615
Interest Receivable and Similar Income 0 0
Interest Payable and Similar Charges ( 0 ) ( 0 )
Profit or (Loss) Before Tax 12,073 4,615
Tax on Profit ( 2,293 ) ( 0 )
Profit or (Loss) for Period 9,780 4,615

The notes form part of these financial statements

GMC MOTORS LTD

Balance sheet

As at 30 April 2023


Notes

2023
£

2022
£
Fixed assets
Intangible assets: 4 0 0
Tangible assets: 5 105,000 6,500
Total fixed assets: 105,000 6,500
Current assets
Stocks: 300,000 120,000
Debtors: 0 0
Cash at bank and in hand: 30,000 15,000
Total current assets: 330,000 135,000
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: ( 0 ) ( 0 )
Net current assets (liabilities): 330,000 135,000
Total assets less current liabilities: 435,000 141,500
Creditors: amounts falling due after more than one year: ( 0 ) ( 0 )
Provision for liabilities: ( 0 ) ( 0 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): 435,000 141,500

The notes form part of these financial statements

GMC MOTORS LTD

Balance sheet continued

As at 30 April 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 375,000 141,500
Revaluation reserve: 6 0 0
Profit and loss account: 60,000 0
Shareholders funds: 435,000 141,500

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 16 November 2023
And Signed On Behalf Of The Board By:

Name: Michael Gallen
Status: Director

The notes form part of these financial statements

GMC MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

GMC MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 1 0

GMC MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 3. Off balance sheet disclosure

    No

GMC MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 4. Intangible assets

    Total
    Cost £
    At 01 May 2022 0
    Additions 0
    Disposals (0)
    Revaluations 0
    Transfers 0
    At 30 April 2023 0
    Amortisation
    Amortisation at 01 May 2022 0
    Charge for year -
    On disposals -
    Other adjustments -
    Amortisation at 30 April 2023 0
    Net book value
    Net book value at 30 April 2023 0
    Net book value at 30 April 2022 0

GMC MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

5. Tangible Assets

Total
Cost £
At 01 May 2022 6,500
Additions 123,500
Disposals (0)
Revaluations 0
Transfers 0
At 30 April 2023 130,000
Depreciation
At 01 May 2022 0
Charge for year 25,000
On disposals (0)
Other adjustments 0
At 30 April 2023 25,000
Net book value
At 30 April 2023 105,000
At 30 April 2022 6,500

GMC MOTORS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

6. Revaluation reserve


2023
£
Balance at 01 May 2022 0
Surplus or deficit after revaluation 0
Balance at 30 April 2023 0