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REGISTERED NUMBER: 07472751 (England and Wales)














HERTS MOTORS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






HERTS MOTORS LIMITED (REGISTERED NUMBER: 07472751)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


HERTS MOTORS LIMITED

COMPANY INFORMATION
for the Year Ended 31 MAY 2023







DIRECTORS: K J Gostling
Mrs H L Gostling





SECRETARY:





REGISTERED OFFICE: Fourways Garage
Hertford Road
Hoddesdon
Hertfordshire
EN11 9JL





REGISTERED NUMBER: 07472751 (England and Wales)





ACCOUNTANTS: Brindley Jacob
Chartered Accountants
167 Turners Hill
Cheshunt
Hertfordshire
EN8 9BH

HERTS MOTORS LIMITED (REGISTERED NUMBER: 07472751)

ABRIDGED BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 508,956 507,554
Investment property 5 364,362 364,362
873,318 871,916

CURRENT ASSETS
Stocks 540,750 521,815
Debtors 176,185 186,429
Cash at bank 306,733 631,395
1,023,668 1,339,639
CREDITORS
Amounts falling due within one year 232,465 712,726
NET CURRENT ASSETS 791,203 626,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,664,521

1,498,829

CREDITORS
Amounts falling due after more than one year 6 253,319 331,300
NET ASSETS 1,411,202 1,167,529

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,411,201 1,167,528
SHAREHOLDERS' FUNDS 1,411,202 1,167,529

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

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

HERTS MOTORS LIMITED (REGISTERED NUMBER: 07472751)

ABRIDGED BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 1 February 2024 and were signed on its behalf by:





K J Gostling - Director


HERTS MOTORS LIMITED (REGISTERED NUMBER: 07472751)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2023

1. STATUTORY INFORMATION

Herts Motors 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 20% on cost
Computer equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

HERTS MOTORS LIMITED (REGISTERED NUMBER: 07472751)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 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 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 538,287
Additions 4,602
At 31 May 2023 542,889
DEPRECIATION
At 1 June 2022 30,733
Charge for year 3,200
At 31 May 2023 33,933
NET BOOK VALUE
At 31 May 2023 508,956
At 31 May 2022 507,554

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 364,362
NET BOOK VALUE
At 31 May 2023 364,362
At 31 May 2022 364,362

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.5.23 31.5.22
£    £   
Repayable by instalments
Property loan - over 5 years 73,020 78,457

HERTS MOTORS LIMITED (REGISTERED NUMBER: 07472751)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 332,314 411,061

The bank loans are secured on the property occupied by the company together with an unlimited Debenture.