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REGISTERED NUMBER: 05382008 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

LLANDUDNO JUNCTION CAR CENTRE LIMITED

LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,560 9,840
Tangible assets 5 42,890 50,540
49,450 60,380

CURRENT ASSETS
Stocks 405,599 307,610
Debtors 6 - 1,461
Cash at bank and in hand 61,212 129,114
466,811 438,185
CREDITORS
Amounts falling due within one year 7 133,622 130,741
NET CURRENT ASSETS 333,189 307,444
TOTAL ASSETS LESS CURRENT
LIABILITIES

382,639

367,824

CREDITORS
Amounts falling due after more than one
year

8

(22,440

)

(40,407

)

PROVISIONS FOR LIABILITIES (7,035 ) (8,349 )
NET ASSETS 353,164 319,068

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 353,162 319,066
353,164 319,068

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.

LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:





Mrs A G Jones - Director


LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Llandudno Junction Car Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05382008

Registered office: Glaslyn Ffordd Y Parc
Parc Menai
Bangor
Gwynedd
LL57 4FE

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents sales of motor vehicles, excluding value added tax.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 5% on 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 Profit and Loss Account, 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.


LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

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


2. ACCOUNTING POLICIES - continued
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.

Hire purchase commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful life.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Hire purchase commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful life.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 65,600
AMORTISATION
At 1 April 2022 55,760
Charge for year 3,280
At 31 March 2023 59,040
NET BOOK VALUE
At 31 March 2023 6,560
At 31 March 2022 9,840

LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 114,606
Additions 4,669
Disposals (1,450 )
At 31 March 2023 117,825
DEPRECIATION
At 1 April 2022 64,066
Charge for year 11,860
Eliminated on disposal (991 )
At 31 March 2023 74,935
NET BOOK VALUE
At 31 March 2023 42,890
At 31 March 2022 50,540

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 28,048
DEPRECIATION
At 1 April 2022 5,610
Charge for year 4,487
At 31 March 2023 10,097
NET BOOK VALUE
At 31 March 2023 17,951
At 31 March 2022 22,438

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 902
Other debtors - 559
- 1,461

LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,949 7,900
Hire purchase contracts (see note 9) 6,212 12,423
Trade creditors 11,821 9,187
Taxation and social security 40,782 29,594
Other creditors 64,858 71,637
133,622 130,741

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,440 34,195
Hire purchase contracts (see note 9) - 6,212
22,440 40,407

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 6,212 12,423
Between one and five years - 6,212
6,212 18,635

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 6,212 18,635

The bank overdraft is secured by a fixed and floating charge over all the company's assets and personal guarantees by the directors.Stock loan is secured by personal guarantees. HP contracts are secured on the associated asset.