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REGISTERED NUMBER: 07395277 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Simon Thorpe Motor Services Limited

Simon Thorpe Motor Services Limited (Registered number: 07395277)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simon Thorpe Motor Services Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: S Thorpe
Mrs T M Thorpe





REGISTERED OFFICE: Hanover House
117-119 Cleethorpe Road
Grimsby
N E Lincs
DN31 3ET





REGISTERED NUMBER: 07395277 (England and Wales)






Simon Thorpe Motor Services Limited (Registered number: 07395277)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,323 41,788

CURRENT ASSETS
Stocks 9,302 9,108
Debtors 5 26,826 28,463
Cash at bank and in hand 165,529 99,461
201,657 137,032
CREDITORS
Amounts falling due within one year 6 195,569 144,820
NET CURRENT ASSETS/(LIABILITIES) 6,088 (7,788 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,411

34,000

CREDITORS
Amounts falling due after more than one
year

7

(12,169

)

(22,501

)

PROVISIONS FOR LIABILITIES (4,317 ) (6,408 )
NET ASSETS 19,925 5,091

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 19,825 4,991
19,925 5,091

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Simon Thorpe Motor Services Limited (Registered number: 07395277)

Balance Sheet - continued
30 September 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 7 February 2024 and were signed on its behalf by:





S Thorpe - Director


Simon Thorpe Motor Services Limited (Registered number: 07395277)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Simon Thorpe Motor Services 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.

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.

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.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Simon Thorpe Motor Services Limited (Registered number: 07395277)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

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.

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 12 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 118,079 3,737 20,517 11,704 154,037
Additions 10,535 - - 308 10,843
Disposals (60,041 ) (1,679 ) - (3,702 ) (65,422 )
At 30 September 2023 68,573 2,058 20,517 8,310 99,458
DEPRECIATION
At 1 October 2022 92,517 2,115 9,793 7,864 112,289
Charge for year 12,918 407 6,224 2,719 22,268
Eliminated on disposal (60,041 ) (1,679 ) - (3,702 ) (65,422 )
At 30 September 2023 45,394 843 16,017 6,881 69,135
NET BOOK VALUE
At 30 September 2023 23,179 1,215 4,500 1,429 30,323
At 30 September 2022 25,562 1,622 10,724 3,840 41,748

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 16,746 10,650
Other debtors 10,080 17,813
26,826 28,463

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 9,960 9,587
Trade creditors 53,857 47,521
Taxation and social security 73,491 44,542
Other creditors 58,261 43,170
195,569 144,820

Simon Thorpe Motor Services Limited (Registered number: 07395277)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 12,169 22,501

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank loans 22,129 32,088

The bank loan is secured against a fixed and floating charge over the company's assets.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Thorpe.