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REGISTERED NUMBER: 05481949










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

H K MOTORS (WALES) LIMITED

H K MOTORS (WALES) LIMITED (REGISTERED NUMBER: 05481949)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H K MOTORS (WALES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: D H Williams
K Williams
A K Williams
C A Williams
I J Williams
N G Williams





SECRETARY: Miss J Williams





REGISTERED OFFICE: Park Lodge
Rhosddu Road
Wrexham
WREXHAM
LL11 1NF





REGISTERED NUMBER: 05481949





ACCOUNTANTS: GODFREY EDWARDS
Park Lodge
Rhosddu Road
Wrexham
WREXHAM
LL11 1NF

H K MOTORS (WALES) LIMITED (REGISTERED NUMBER: 05481949)

BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,801,315 1,853,882

CURRENT ASSETS
Stocks 75,000 60,000
Debtors 5 79,884 74,549
Cash at bank and in hand 1,460,387 1,220,540
1,615,271 1,355,089
CREDITORS
Amounts falling due within one year 6 1,226,600 1,392,314
NET CURRENT ASSETS/(LIABILITIES) 388,671 (37,225 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,189,986

1,816,657

PROVISIONS FOR LIABILITIES 57,973 37,002
NET ASSETS 2,132,013 1,779,655

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 2,132,007 1,779,649
SHAREHOLDERS' FUNDS 2,132,013 1,779,655

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

H K MOTORS (WALES) LIMITED (REGISTERED NUMBER: 05481949)

BALANCE SHEET - continued
31ST MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th October 2023 and were signed on its behalf by:




D H Williams - Director



K Williams - Director


H K MOTORS (WALES) LIMITED (REGISTERED NUMBER: 05481949)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

H K Motors (Wales) Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

H K MOTORS (WALES) LIMITED (REGISTERED NUMBER: 05481949)

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st June 2022 1,560,724 125,710 949,914 5,508 2,641,856
Additions - 6,780 16,500 - 23,280
Disposals - - (1,000 ) - (1,000 )
At 31st May 2023 1,560,724 132,490 965,414 5,508 2,664,136
DEPRECIATION
At 1st June 2022 - 97,565 685,742 4,667 787,974
Charge for year - 5,240 70,059 127 75,426
Eliminated on disposal - - (579 ) - (579 )
At 31st May 2023 - 102,805 755,222 4,794 862,821
NET BOOK VALUE
At 31st May 2023 1,560,724 29,685 210,192 714 1,801,315
At 31st May 2022 1,560,724 28,145 264,172 841 1,853,882

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 58,669 53,901
Prepayments 21,215 20,648
79,884 74,549

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 23,552 26,243
Tax 113,507 142,032
Social security and other taxes 2,222 1,635
VAT 44,018 79,324
Other creditors 946 272
Directors' current accounts 1,040,617 1,141,066
Accrued expenses 1,738 1,742
1,226,600 1,392,314

7. RELATED PARTY DISCLOSURES

There were no transactions with the directors during the year other than as disclosed in the accounts.