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Company Registration No. 07159939 (England and Wales)
Poole Bay Motors Ltd Unaudited accounts for the year ended 28 February 2023
Poole Bay Motors Ltd Unaudited accounts Contents
Page
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Poole Bay Motors Ltd Company Information for the year ended 28 February 2023
Directors
Scott G MacKay Lisa Marie Colegate
Secretary
Scott G MacKay
Company Number
07159939 (England and Wales)
Registered Office
252-254 BOURNEMOUTH ROAD POOLE BH14 9AN ENGLAND
Accountants
Thyme Accounting Services Limited Flat 10 Leighton Lodge 15 Branksome Wood Road Bournemouth Dorset BH2 6BX
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Poole Bay Motors Ltd Accountants' report
Accountants' report to the board of directors of Poole Bay Motors Ltd on the preparation of the unaudited statutory accounts for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Poole Bay Motors Ltd for the year ended 28 February 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Poole Bay Motors Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Poole Bay Motors Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Poole Bay Motors Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Poole Bay Motors Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Poole Bay Motors Ltd. You consider that Poole Bay Motors Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Poole Bay Motors Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Thyme Accounting Services Limited Flat 10 Leighton Lodge 15 Branksome Wood Road Bournemouth Dorset BH2 6BX 29 November 2023
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Poole Bay Motors Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
23,243 
19,029 
Investment property
160,000 
160,000 
183,243 
179,029 
Current assets
Inventories
190,694 
222,569 
Debtors
23,998 
12,660 
Cash at bank and in hand
14,561 
86,191 
229,253 
321,420 
Creditors: amounts falling due within one year
(308,647)
(344,852)
Net current liabilities
(79,394)
(23,432)
Total assets less current liabilities
103,849 
155,597 
Creditors: amounts falling due after more than one year
(46,929)
(82,900)
Net assets
56,920 
72,697 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
56,918 
72,695 
Shareholders' funds
56,920 
72,697 
For the year ending 28 February 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by
Scott G MacKay Director Company Registration No. 07159939
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Poole Bay Motors Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Poole Bay Motors Ltd is a private company, limited by shares, registered in England and Wales, registration number 07159939. The registered office is 252-254 BOURNEMOUTH ROAD, POOLE, BH14 9AN, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The financial statements have been prepared on a going concern basis, based on the continued support of the company's bank and future financial projections. The director remains fully committed to the company and forecasts that it will be able to meet its day to day working capital requirements to continue trading into the foreseeable future with his continued support. For this reason the director considers that the going concern basis is appropriate.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Not provided
Plant & machinery
15% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
33% on cost
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Poole Bay Motors Ltd Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 March 2022
39,046 
1,550 
17,052 
9,584 
67,232 
Additions
7,529 
- 
- 
1,856 
9,385 
At 28 February 2023
46,575 
1,550 
17,052 
11,440 
76,617 
Depreciation
At 1 March 2022
25,508 
1,372 
13,663 
7,660 
48,203 
Charge for the year
3,160 
44 
508 
1,459 
5,171 
At 28 February 2023
28,668 
1,416 
14,171 
9,119 
53,374 
Net book value
At 28 February 2023
17,907 
134 
2,881 
2,321 
23,243 
At 28 February 2022
13,538 
178 
3,389 
1,924 
19,029 
5
Investment property
2023 
£ 
Fair value at 1 March 2022
160,000 
At 28 February 2023
160,000 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
18,577 
- 
Accrued income and prepayments
1,525 
4,743 
Other debtors
3,896 
3,750 
23,998 
8,493 
Amounts falling due after more than one year
Trade debtors
- 
4,167 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
33,058 
27,497 
VAT
13,231 
18,500 
Trade creditors
49,232 
34,651 
Taxes and social security
19,263 
29,119 
Other creditors
7,562 
7,003 
Loans from directors
181,161 
224,227 
Accruals
5,140 
3,855 
308,647 
344,852 
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Poole Bay Motors Ltd Notes to the Accounts for the year ended 28 February 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
46,929 
82,900 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Transactions with related parties
The bank borrowings are secured by the director Mr S G MacKay giving a personal guarantee of £95000
11
Average number of employees
During the year the average number of employees was 7 (2022: 7).
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