Silverfin false 31/03/2023 08/03/2022 31/03/2023 Mr J F Denbow 08/03/2022 18 February 2024 The principal activity of the company during the financial period was that of vehicle repairs. 13962552 2023-03-31 13962552 bus:Director1 2023-03-31 13962552 core:CurrentFinancialInstruments 2023-03-31 13962552 core:ShareCapital 2023-03-31 13962552 core:RetainedEarningsAccumulatedLosses 2023-03-31 13962552 core:PlantMachinery 2022-03-07 13962552 core:Vehicles 2022-03-07 13962552 core:OfficeEquipment 2022-03-07 13962552 2022-03-07 13962552 core:PlantMachinery 2023-03-31 13962552 core:Vehicles 2023-03-31 13962552 core:OfficeEquipment 2023-03-31 13962552 bus:OrdinaryShareClass1 2023-03-31 13962552 2022-03-08 2023-03-31 13962552 bus:FullAccounts 2022-03-08 2023-03-31 13962552 bus:SmallEntities 2022-03-08 2023-03-31 13962552 bus:AuditExemptWithAccountantsReport 2022-03-08 2023-03-31 13962552 bus:PrivateLimitedCompanyLtd 2022-03-08 2023-03-31 13962552 bus:Director1 2022-03-08 2023-03-31 13962552 core:PlantMachinery 2022-03-08 2023-03-31 13962552 core:Vehicles 2022-03-08 2023-03-31 13962552 core:OfficeEquipment 2022-03-08 2023-03-31 13962552 bus:OrdinaryShareClass1 2022-03-08 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13962552 (England and Wales)

JFD MOTORS LIMITED

Unaudited Financial Statements
For the financial period from 08 March 2022 to 31 March 2023
Pages for filing with the registrar

JFD MOTORS LIMITED

Unaudited Financial Statements

For the financial period from 08 March 2022 to 31 March 2023

Contents

JFD MOTORS LIMITED

COMPANY INFORMATION

For the financial period from 08 March 2022 to 31 March 2023
JFD MOTORS LIMITED

COMPANY INFORMATION (continued)

For the financial period from 08 March 2022 to 31 March 2023
DIRECTOR Mr J F Denbow
REGISTERED OFFICE Jupiter House
Aspen Way
Yalberton Industrial Estate
Paignton
Devon
TQ4 7QR
United Kingdom
COMPANY NUMBER 13962552 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
JFD MOTORS LIMITED

BALANCE SHEET

As at 31 March 2023
JFD MOTORS LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 31.03.2023
£
Fixed assets
Tangible assets 3 69,299
69,299
Current assets
Stocks 2,500
Debtors 4 90,397
Cash at bank and in hand 11,312
104,209
Creditors: amounts falling due within one year 5 ( 247,551)
Net current liabilities (143,342)
Total assets less current liabilities (74,043)
Net liabilities ( 74,043)
Capital and reserves
Called-up share capital 6 100
Profit and loss account ( 74,143 )
Total shareholder's deficit ( 74,043)

For the financial period ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of JFD Motors Limited (registered number: 13962552) were approved and authorised for issue by the Director on 18 February 2024. They were signed on its behalf by:

Mr J F Denbow
Director
JFD MOTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 March 2022 to 31 March 2023
JFD MOTORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 March 2022 to 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

JFD Motors Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Jupiter House, Aspen Way, Yalberton Industrial Estate, Paignton, Devon, TQ4 7QR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. As at 31 March 2023 the company had net liabilities of £74,043 and is reliant upon the support of it's group members. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The accounts are prepared for the period from incorporation on 8th March and cover a 13 month period.

Turnover

Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
08.03.2022 to
31.03.2023
Number
Monthly average number of persons employed by the Company during the period, including the director 10

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 08 March 2022 0 0 0 0
Additions 32,522 116,840 3,467 152,829
Disposals 0 ( 64,362) 0 ( 64,362)
At 31 March 2023 32,522 52,478 3,467 88,467
Accumulated depreciation
At 08 March 2022 0 0 0 0
Charge for the financial period 7,048 11,370 750 19,168
At 31 March 2023 7,048 11,370 750 19,168
Net book value
At 31 March 2023 25,474 41,108 2,717 69,299

4. Debtors

31.03.2023
£
Trade debtors 32,692
Amounts owed by Group undertakings 56,501
Other debtors 1,204
90,397

5. Creditors: amounts falling due within one year

31.03.2023
£
Trade creditors 17,108
Amounts owed to Group undertakings 215,906
Taxation and social security 11,080
Other creditors 3,457
247,551

6. Called-up share capital

31.03.2023
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

The share capital was issued upon incorporation on 8th March 2022.

7. Related party transactions

Transactions with the entity's director

31.03.2023
£
Amounts owed to/(by) Directors (1,204)

JFD Motors Limited operates a Directors' Loan Account with the company director . There is no fixed date of repayment and the loan bears interest of 2% on any amounts overdrawn by more than £10,000.

8. Ultimate controlling party

Parent Company:

With effect from 1 June 2022 the parent company is:JFD Group Limited
Jupiter House
Aspen Way
Yalberton Industrial Estate
Paignton
Devon, TQ4 7QR