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REGISTERED NUMBER: 00793787 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

S.& Y.MOTORS(EARL SHILTON)LIMITED

S.& Y.MOTORS(EARL SHILTON)LIMITED (REGISTERED NUMBER: 00793787)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S.& Y.MOTORS(EARL SHILTON)LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Dennis Allan Storer
Philip John Storer





SECRETARY: Susan L Martin





REGISTERED OFFICE: 25 Station Road
Hinckley
Leicestershire
LE10 1AP





REGISTERED NUMBER: 00793787 (England and Wales)





ACCOUNTANTS: Armstrongs
Chartered Accountants
25 Station Road
Hinckley
Leicestershire
LE10 1AP

S.& Y.MOTORS(EARL SHILTON)LIMITED (REGISTERED NUMBER: 00793787)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 390,313 399,103

CURRENT ASSETS
Stocks 2,885 3,246
Debtors 5 14,487 14,735
Cash at bank and in hand 60,519 54,543
77,891 72,524
CREDITORS
Amounts falling due within one year 6 77,571 75,699
NET CURRENT ASSETS/(LIABILITIES) 320 (3,175 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

390,633

395,928

CREDITORS
Amounts falling due after more than one
year

7

14,973

21,768
NET ASSETS 375,660 374,160

CAPITAL AND RESERVES
Called up share capital 200 200
Revaluation reserve 8 378,012 378,012
Retained earnings (2,552 ) (4,052 )
SHAREHOLDERS' FUNDS 375,660 374,160

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

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

S.& Y.MOTORS(EARL SHILTON)LIMITED (REGISTERED NUMBER: 00793787)

BALANCE SHEET - continued
31 JULY 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 8 February 2024 and were signed on its behalf by:




Dennis Allan Storer - Director



Philip John Storer - Director


S.& Y.MOTORS(EARL SHILTON)LIMITED (REGISTERED NUMBER: 00793787)

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

1. STATUTORY INFORMATION

S.& Y.Motors(Earl Shilton)Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 50 years
Plant and machinery etc - 33% on cost, 25% on reducing balance, 10% on reducing balance and Not required to be depreciated

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.

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.

3. EMPLOYEES AND DIRECTORS

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

S.& Y.MOTORS(EARL SHILTON)LIMITED (REGISTERED NUMBER: 00793787)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 August 2022
and 31 July 2023 400,000 447,995 30,254 64,093 942,342
DEPRECIATION
At 1 August 2022 24,000 447,638 30,063 41,538 543,239
Charge for year 3,000 90 61 5,639 8,790
At 31 July 2023 27,000 447,728 30,124 47,177 552,029
NET BOOK VALUE
At 31 July 2023 373,000 267 130 16,916 390,313
At 31 July 2022 376,000 357 191 22,555 399,103

Included in cost or valuation of land and buildings is freehold land of £ 250,000 (2022 - £ 250,000 ) which is not depreciated.

Cost or valuation at 31 July 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2013 367,332 - - - 367,332
Cost 32,668 447,995 30,254 64,093 575,010
400,000 447,995 30,254 64,093 942,342

If the freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 32,668 32,668
Aggregate depreciation 14,615 14,615

The freehold property was valued on an open market basis on 31 July 2020 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,651 8,302
Other debtors 6,836 6,433
14,487 14,735

S.& Y.MOTORS(EARL SHILTON)LIMITED (REGISTERED NUMBER: 00793787)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,060 7,060
Trade creditors 8,868 11,419
Corporation tax 2,181 2,111
Social security and other taxes 7,910 1,033
Other creditors 24,918 27,109
Directors' loan accounts 26,634 26,967
77,571 75,699

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 7,200 7,200
Bank loans - 2-5 years 7,773 14,568
14,973 21,768

8. RESERVES
Revaluation
reserve
£   
At 1 August 2022
and 31 July 2023 378,012

9. DEFERRED TAX

There are potential tax liabilities on Fixed Asset Revaluation but unrealised trade and capital gains losses indicate that no provision is required in these financial statements.