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REGISTERED NUMBER: 11679800 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2023

for

S Young Autos Limited

S Young Autos Limited (Registered number: 11679800)






Contents of the Financial Statements
for the year ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S Young Autos Limited

Company Information
for the year ended 30 November 2023







DIRECTOR: S J Young





SECRETARY: Ms C L Speed





REGISTERED OFFICE: Unit 4, Huntsbank Business Park,
Crewe Road
Crewe
Cheshire
CW2 6QT





REGISTERED NUMBER: 11679800 (England and Wales)






S Young Autos Limited (Registered number: 11679800)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 - 2,340
Tangible assets 6 65,759 68,096
65,759 70,436

CURRENT ASSETS
Stocks 7 2,570 2,450
Debtors 8 15,733 15,505
Cash at bank and in hand 145,385 150,422
163,688 168,377
CREDITORS
Amounts falling due within one year 9 (43,734 ) (49,694 )
NET CURRENT ASSETS 119,954 118,683
TOTAL ASSETS LESS CURRENT
LIABILITIES

185,713

189,119

PROVISIONS FOR LIABILITIES (8,248 ) (8,142 )
NET ASSETS 177,465 180,977

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 177,365 180,877
177,465 180,977

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Young Autos Limited (Registered number: 11679800)

Statement of Financial Position - continued
30 November 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 April 2024 and were signed by:





S J Young - Director


S Young Autos Limited (Registered number: 11679800)

Notes to the Financial Statements
for the year ended 30 November 2023

1. STATUTORY INFORMATION

S Young Autos Limited ('The Company') is primarily engaged in maintenance and repair of motor vehicles.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and of the registered office is Unit 4, Huntsbank Business Parl, Crewe Road, Crewe, CW2 6QT. The registered number can be found on the Company Information page.

The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the director and he considers it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered (including recharged expenses), stated net of discounts and of Value Added Tax.

Income is recognised when services have been rendered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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
Fixtures and fittings - 25% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value).

S Young Autos Limited (Registered number: 11679800)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' current accounts and loans.

Bank loans and directors loans are initially measured at the present value of future payments, discounted at a market rate of interest and subsequently at amortised cost using the effective interest method.

Directors current balances (being those repayable on demand), trade debtors, other debtors and creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment.If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 year end.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the year end.

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 and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset maybe impaired at each year end. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

S Young Autos Limited (Registered number: 11679800)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 11,700
AMORTISATION
At 1 December 2022 9,360
Charge for year 2,340
At 30 November 2023 11,700
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 2,340

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 114,345
Additions 11,109
At 30 November 2023 125,454
DEPRECIATION
At 1 December 2022 46,249
Charge for year 13,446
At 30 November 2023 59,695
NET BOOK VALUE
At 30 November 2023 65,759
At 30 November 2022 68,096

7. STOCKS
2023 2022
£    £   
Stocks 2,570 2,450

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,983 6,755
Prepayments 8,750 8,750
15,733 15,505

S Young Autos Limited (Registered number: 11679800)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,555 16,426
Tax 14,689 21,113
Social security and other taxes 312 232
VAT 6,136 4,449
Other creditors 6,568 5,027
Directors' current accounts 54 40
Accrued expenses 2,420 2,407
43,734 49,694

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 15,000 15,000
Between one and five years 38,750 53,750
53,750 68,750