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REGISTERED NUMBER: 00641450 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Runcorn Car Mart Limited

Runcorn Car Mart Limited (Registered number: 00641450)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Runcorn Car Mart Limited (Registered number: 00641450)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 528,209 559,393
Investments 5 47,283 45,864
575,492 605,257

CURRENT ASSETS
Stocks 2,090,455 1,752,655
Debtors 6 242,457 95,249
Cash at bank and in hand 200,399 366,480
2,533,311 2,214,384
CREDITORS
Amounts falling due within one year 7 1,970,110 1,567,990
NET CURRENT ASSETS 563,201 646,394
TOTAL ASSETS LESS CURRENT LIABILITIES 1,138,693 1,251,651

PROVISIONS FOR LIABILITIES 16,930 20,366
NET ASSETS 1,121,763 1,231,285

CAPITAL AND RESERVES
Called up share capital 550 550
Non distributable reserves 9 (2,717 ) (4,136 )
Retained earnings 1,123,930 1,234,871
SHAREHOLDERS' FUNDS 1,121,763 1,231,285

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

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

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 15 January 2024 and were signed on its behalf by:




I Ginger - Director


Runcorn Car Mart Limited (Registered number: 00641450)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Runcorn Car Mart 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: 00641450

Registered office: Warrington Mazda
Bewsey Road
Warrington
Cheshire
WA5 0JX

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance and 2% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

Consignment vehicles on which the company bears the risks and responsibilities of ownership are regarded effectively as being under the control of the company and, in accordance with the Financial Reporting Standards for Smaller Entities, are included in stocks on the balance sheet, although legal title has not passed to the company. The corresponding liability is included as new vehicle funding and is secured directly on these vehicles.

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.

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.

Runcorn Car Mart Limited (Registered number: 00641450)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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 24 (2022 - 28 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 November 2022 750,746 469,504 87,230 1,307,480
Additions - 5,670 - 5,670
At 31 October 2023 750,746 475,174 87,230 1,313,150
DEPRECIATION
At 1 November 2022 298,544 416,679 32,864 748,087
Charge for year 15,012 13,682 8,160 36,854
At 31 October 2023 313,556 430,361 41,024 784,941
NET BOOK VALUE
At 31 October 2023 437,190 44,813 46,206 528,209
At 31 October 2022 452,202 52,825 54,366 559,393

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 November 2022 45,864
Revaluations 1,419
At 31 October 2023 47,283
NET BOOK VALUE
At 31 October 2023 47,283
At 31 October 2022 45,864

Cost or valuation at 31 October 2023 is represented by:

Other
investments
£   
Valuation in 2020 1,125
Valuation in 2022 (154 )
Valuation in 2022 (5,107 )
Valuation in 2023 1,419
Cost 50,000
47,283

Investments are measured at fair value.

Runcorn Car Mart Limited (Registered number: 00641450)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 157,437 44,863
Other debtors 85,020 50,386
242,457 95,249

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,583,656 1,074,505
Taxation and social security 27,819 64,247
Other creditors 358,635 429,238
1,970,110 1,567,990

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Vehicle creditors 1,177,164 768,920
New vehicle funding 43,694 54,543
1,220,858 823,463

The above debts are secured against the assets owned by the company.

9. RESERVES
Non
distributable
reserves
£   
At 1 November 2022 (4,136 )
Revaluation on investments 1,419

At 31 October 2023 (2,717 )