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REGISTERED NUMBER: 00430104 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

SALTFORD MOTOR SERVICES LIMITED

SALTFORD MOTOR SERVICES LIMITED (REGISTERED NUMBER: 00430104)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SALTFORD MOTOR SERVICES LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G Thomas
N A Thomas
W M Hunt
M C Thomas





SECRETARY: M C Thomas





REGISTERED OFFICE: 491 Bath Road
Saltford
Bristol
Avon
BS31 3HQ





REGISTERED NUMBER: 00430104 (England and Wales)





ACCOUNTANT: Grahame J Harbour Limited
1 Windrush Road
Keynsham
Bristol
Avon
BS31 1QL

SALTFORD MOTOR SERVICES LIMITED (REGISTERED NUMBER: 00430104)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 929,131 944,555

CURRENT ASSETS
Stocks 277,415 506,748
Debtors 5 46,455 125,848
Cash at bank and in hand 205,702 59,615
529,572 692,211
CREDITORS
Amounts falling due within one year 6 225,195 294,046
NET CURRENT ASSETS 304,377 398,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,233,508

1,342,720

CREDITORS
Amounts falling due after more than one
year

7

-

(95,013

)

PROVISIONS FOR LIABILITIES 8 (28,465 ) (31,321 )
NET ASSETS 1,205,043 1,216,386

CAPITAL AND RESERVES
Called up share capital 9 3,500 3,500
Retained earnings 10 1,201,543 1,212,886
SHAREHOLDERS' FUNDS 1,205,043 1,216,386

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

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

SALTFORD MOTOR SERVICES LIMITED (REGISTERED NUMBER: 00430104)

Balance Sheet - continued
31 December 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 8 March 2024 and were signed on its behalf by:





W M Hunt - Director


SALTFORD MOTOR SERVICES LIMITED (REGISTERED NUMBER: 00430104)

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

1. STATUTORY INFORMATION

Saltford 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.

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 represents the value, net of value added tax, of goods and services supplied to customers during the year.

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 - 15% on reducing balance
Office equipment - 25% on cost

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 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.

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.

Fixed asset investments
Fixed asset investments are stated at historical cost less provision for any permanent diminution in value.

SALTFORD MOTOR SERVICES LIMITED (REGISTERED NUMBER: 00430104)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 26 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Office
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 772,421 363,196 420,316 284,562 1,840,495
Additions - - 13,051 - 13,051
At 31 December 2023 772,421 363,196 433,367 284,562 1,853,546
DEPRECIATION
At 1 January 2023 - 291,458 322,780 281,702 895,940
Charge for year - 10,761 16,588 1,126 28,475
At 31 December 2023 - 302,219 339,368 282,828 924,415
NET BOOK VALUE
At 31 December 2023 772,421 60,977 93,999 1,734 929,131
At 31 December 2022 772,421 71,738 97,536 2,860 944,555

Included in cost of land and buildings is freehold land of £ 772,421 (2022 - £ 772,421 ) which is not depreciated.






5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 3,114 79,646
Other debtors 29 -
Prepayments and accrued income 43,312 46,202
46,455 125,848

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 12,500
Payments on account 14,486 63,111
Trade creditors 122,664 134,384
Tax 196 -
Social security and other taxes - 17,816
VAT 72,426 44,665
Directors' current accounts - 6,095
Accruals and deferred income 15,423 15,475
225,195 294,046

SALTFORD MOTOR SERVICES LIMITED (REGISTERED NUMBER: 00430104)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2-5 years - 95,013

The bank loan was taken out under the terms of the Coronavirus Business Interruption Loan Scheme.

The term of the loan was five years and the interest rate was 2.99% per annum.

This loan was repaid early during the year.

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 28,465 31,321

Deferred
tax
£   
Balance at 1 January 2023 31,321
Credit to Income Statement during year (2,856 )
Balance at 31 December 2023 28,465

Deferred tax is provided on accelerated capital allowances less losses carried forward.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
3,500 Ordinary £1 3,500 3,500

10. RESERVES
Retained
earnings
£   

At 1 January 2023 1,212,886
Deficit for the year (11,343 )
At 31 December 2023 1,201,543