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REGISTERED NUMBER: 08777828 (England and Wales)















Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements for the Year Ended 31 October 2023

for

Green 4 Motor Group Limited

Green 4 Motor Group Limited (Registered number: 08777828)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Statement of Income and Retained Earnings 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Cash Flow Statement 12

Notes to the Consolidated Cash Flow Statement 13

Notes to the Consolidated Financial Statements 14


Green 4 Motor Group Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr T Leggett
Mr A P Dodds
Mr D Everitt
Mrs A C France





SECRETARIES: Mrs A C France
Mrs J V Leggett





REGISTERED OFFICE: 540 London Road
Coventry
CV3 4EW





REGISTERED NUMBER: 08777828 (England and Wales)





AUDITORS: Underwood Green Limited, Statutory Auditor
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

Green 4 Motor Group Limited (Registered number: 08777828)

Group Strategic Report
for the Year Ended 31 October 2023

The directors present their strategic report of the company and the group for the year ended 31 October 2023.

REVIEW OF BUSINESS
The group turnover increased in the year to £48.7 million from £41.6 million, an increase of 17.0% (2022: increase of 11.1%).

The operating profit of the group decreased in the year to £1,047k compared to £1,320k in the previous year.

Given these factors the directors are pleased with the overall results for the year.

Cash projections are prepared frequently and reviewed by management to ensure that adequate financial resources exist for the company. The board has continued to maintain adequate funding capital within the company and no changes in facilities are envisaged in the foreseeable future.

The financial results in 2023 were in line with the boards expectations and the company continues to be well placed to maintain its position in difficult trading conditions.

PRINCIPAL RISKS AND UNCERTAINTIES
The trading performance of the company to the year ended 31 October 2023 is in line with directors' expectations.

The general uncertainty of the worldwide economy including the effect of equity markets and inflation pressure is considered to be of greater risk to the business going forward. The directors and their management team are keeping all margins and costs under review.

Due to its strong cash position, the directors feel the company is well placed to weather the economic effects of the current trading climate.

FINANCIAL KEY PERFORMANCE INDICATORS
The directors use turnover and operating profits as key performance indicators for the business.

ON BEHALF OF THE BOARD:





Mr T Leggett - Director


26 March 2024

Green 4 Motor Group Limited (Registered number: 08777828)

Report of the Directors
for the Year Ended 31 October 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 October 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the sale of motor vehicles.

DIVIDENDS
The total distribution of dividends for the year ended 31 October 2023 was £552,653 (2022: £502,417).

RESEARCH AND DEVELOPMENT
The company is not currently undertaking any research and development activities.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report.

Mr T Leggett
Mr A P Dodds
Mr D Everitt
Mrs A C France

FINANCIAL INSTRUMENTS
Treasury operations
The company operates a centralised treasury function which is responsible for managing the liquidity and interest rate risks associated with the company's activities. The company's principal instruments are a bank loan and bank and cash balances. In addition the company has various other financial assets and liabilities such as trade debtors, trade creditors and consignment stock creditors arising directly from the operations of the business.

Liquidity risk
The company manages its cash requirements centrally to maximise interest income and minimise interest expense, whilst ensuring the the company has sufficient liquid resources to meet the operating needs of its business.

Interest rate risk
The company is exposed to fair value interest rate risk on its bank loan facility only. The company does not have a bank overdraft facility.

Foreign currency risk
The company does not have any foreign currency risk as all sales and purchases are made within the UK.

Credit risk
Investments of cash surpluses are made with the company's main bankers. Receivable balances are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

DISCLOSURE IN THE STRATEGIC REPORT
The directors have chosen to disclose the Review of the Business and Principal Risks and Uncertainties of the business within the the company's Strategic Report.


Green 4 Motor Group Limited (Registered number: 08777828)

Report of the Directors
for the Year Ended 31 October 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr T Leggett - Director


26 March 2024

Report of the Independent Auditors to the Members of
Green 4 Motor Group Limited

Opinion
We have audited the financial statements of Green 4 Motor Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2023 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 October 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's ability to continue as a going concern.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Green 4 Motor Group Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Green 4 Motor Group Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

In identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following;
- The nature of the industry and sector, control environment and business performance
- The company's own assessment of the risks that irregularities may occur either as a result of fraud or error that was approved by the board
- Any matters identified having reviewed the company's procedures
- Matters discussed among our audit engagement team and other members of Underwood Green regarding how fraud might occur in the financial statements.

As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud. We are also required to perform specific procedures to respond to the risks of management override.
We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered included UK companies Act and tax legislation.

We also considered adherence to anti bribery laws, data protection employment law and health and safety regulations.

Audit response to risks identified
As a result of performing the above, we identified the disclosure of adjusting items in the financial statements.

In addition to the above, our procedures to respond to risks identified included;
- Reviewing the financial statement disclosures
- Enquiring of management concerning actual and potential litigation and claims
- Performing analytical procedures to identify unusual or unexpected relationships that may indicate risks of material misstatement due to fraud
- In addressing the risk of fraud through management override of controls, testing the appropriateness of journals and assessing whether judgements made in making accounting estimates are indicative of potential bias.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Green 4 Motor Group Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Gary Underwood (Senior Statutory Auditor)
for and on behalf of Underwood Green Limited, Statutory Auditor
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

26 March 2024

Green 4 Motor Group Limited (Registered number: 08777828)

Consolidated
Statement of Income and
Retained Earnings
for the Year Ended 31 October 2023

2023 2022
Notes £    £   

TURNOVER 4 48,716,726 41,643,456

Cost of sales 46,289,220 38,950,848
GROSS PROFIT 2,427,506 2,692,608

Administrative expenses 1,380,609 1,372,871
OPERATING PROFIT 7 1,046,897 1,319,737

Interest receivable and similar income 15,837 2,642
1,062,734 1,322,379

Interest payable and similar expenses 8 343,306 129,007
PROFIT BEFORE TAXATION 719,428 1,193,372

Tax on profit 9 156,238 228,825
PROFIT FOR THE FINANCIAL YEAR 563,190 964,547

Retained earnings at beginning of year 1,374,763 912,633

Dividends 11 (552,653 ) (502,417 )

RETAINED EARNINGS FOR THE
GROUP AT END OF YEAR

1,385,300

1,374,763

Profit attributable to:
Owners of the parent 563,190 964,547

Green 4 Motor Group Limited (Registered number: 08777828)

Consolidated Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 (138,946 ) (151,578 )
Tangible assets 13 289,517 458,805
Investments 14 - -
150,571 307,227

CURRENT ASSETS
Stocks 15 8,582,762 4,674,574
Debtors 16 1,954,545 1,506,596
Cash at bank and in hand 1,156,965 1,849,968
11,694,272 8,031,138
CREDITORS
Amounts falling due within one year 17 10,147,901 6,540,129
NET CURRENT ASSETS 1,546,371 1,491,009
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,696,942

1,798,236

CREDITORS
Amounts falling due after more than one
year

18

(102,083

)

(208,334

)

PROVISIONS FOR LIABILITIES 22 (60,159 ) (65,739 )
NET ASSETS 1,534,700 1,524,163

CAPITAL AND RESERVES
Called up share capital 23 124,600 124,600
Capital redemption reserve 24 24,800 24,800
Retained earnings 24 1,385,300 1,374,763
SHAREHOLDERS' FUNDS 1,534,700 1,524,163

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by:





Mr T Leggett - Director


Green 4 Motor Group Limited (Registered number: 08777828)

Company Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 - -
Investments 14 250,100 250,100
250,100 250,100

CURRENT ASSETS
Debtors 16 665,200 468,518
Cash at bank 445,259 916,312
1,110,459 1,384,830
CREDITORS
Amounts falling due within one year 17 1,211,159 1,485,530
NET CURRENT LIABILITIES (100,700 ) (100,700 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

149,400

149,400

CAPITAL AND RESERVES
Called up share capital 23 124,600 124,600
Capital redemption reserve 24 24,800 24,800
SHAREHOLDERS' FUNDS 149,400 149,400

Company's profit for the financial year 552,653 502,417

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by:





Mr T Leggett - Director


Green 4 Motor Group Limited (Registered number: 08777828)

Consolidated Cash Flow Statement
for the Year Ended 31 October 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 689,900 1,559,066
Interest paid (343,306 ) (129,007 )
Tax paid (287,424 ) (129,544 )
Net cash from operating activities 59,170 1,300,515

Cash flows from investing activities
Purchase of tangible fixed assets (193,207 ) (308,301 )
Sale of tangible fixed assets 261,720 169,755
Interest received 15,837 2,642
Net cash from investing activities 84,350 (135,904 )

Cash flows from financing activities
Loan repayments in year (106,252 ) (94,620 )
Amount introduced by directors 897,652 -
Amount withdrawn by directors (1,075,270 ) (377,101 )
Equity dividends paid (552,653 ) (502,417 )
Net cash from financing activities (836,523 ) (974,138 )

(Decrease)/increase in cash and cash equivalents (693,003 ) 190,473
Cash and cash equivalents at beginning of
year

2

1,849,968

1,659,495

Cash and cash equivalents at end of year 2 1,156,965 1,849,968

Green 4 Motor Group Limited (Registered number: 08777828)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 October 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 719,428 1,193,372
Depreciation charges 88,143 102,237
Finance costs 343,306 129,007
Finance income (15,837 ) (2,642 )
1,135,040 1,421,974
Increase in stocks (3,908,188 ) (1,054,169 )
Increase in trade and other debtors (251,266 ) (157,235 )
Increase in trade and other creditors 3,714,314 1,348,496
Cash generated from operations 689,900 1,559,066

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2023
31.10.23 1.11.22
£    £   
Cash and cash equivalents 1,156,965 1,849,968
Year ended 31 October 2022
31.10.22 1.11.21
£    £   
Cash and cash equivalents 1,849,968 1,659,495


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.11.22 Cash flow At 31.10.23
£    £    £   
Net cash
Cash at bank and in hand 1,849,968 (693,003 ) 1,156,965
1,849,968 (693,003 ) 1,156,965
Debt
Debts falling due within 1 year (106,250 ) - (106,250 )
Debts falling due after 1 year (208,334 ) 106,251 (102,083 )
(314,584 ) 106,251 (208,333 )
Total 1,535,384 (586,752 ) 948,632

Green 4 Motor Group Limited (Registered number: 08777828)

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

1. STATUTORY INFORMATION

Green 4 Motor Group 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the use of fair values for certain financial instruments in accordance with the accounting policies set out below.

Basis of consolidation
The consolidated financial statements includes all of group's subsidiaries being; Green 4 Holdings Limited, Green 4 Motor Company Limited and Green 4 Investments Limited.

Turnover
The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits can be reliably measured, and it is probable that future economic benefits will flow to the entity. Revenue from the sale of goods is recognised when the risks and rewards of ownership are transferred to the customer. Revenue from services is recognised in the accounting periods in which the services are rendered.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property-14.28%/20% on cost
Plant and machinery-20%/33% on cost
Fixtures and fittings-20%/33% on cost
Computer equipment-33% on cost
Motor vehicles-20%/33% on cost


Stocks
Stocks consists of new and used cars for sale, together with spare parts and are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined using the first-in, first out (FIFO) method. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Stocks held on consignment are accounted for on the balance sheet when in terms of a consignment and commercial practice indicate that the principal benefit and risks of owning the stocks rest with the company. The corresponding creditor is accordingly accounted for on the balance sheet.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Green 4 Motor Group Limited (Registered number: 08777828)

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

2. ACCOUNTING POLICIES - continued

Deferred taxation
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Intangible fixed liabilities
Negative goodwill arises on the consolidation of the group accounts following the purchase of Coventry Motor Company Holdings Limited in January 2014 and is being amortised over 20 years. In the opinion of the directors, this represents a prudent estimate of the period over which the company will derive economic benefit from the reputation and customer loyalty acquired as part of that business.

Financial instruments
The limited company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from and to related parties and bank loans.

Green 4 Motor Group Limited (Registered number: 08777828)

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

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due for goods sold or services rendered in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtor.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are classified as current liabilities of the company does not have an unconditional right, at the end of the reporting date, to defer settlement of the creditor for at least twelve months after the reporting date.If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Green 4 Motor Group Limited (Registered number: 08777828)

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

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The Company makes estimates and assumptions concerning the future. Management are also required to exercise judgement in the process of applying the Company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have an increased risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

In preparing these financial statements, the directors have made the following judgements:

Goodwill, intangible assets and amortisation
The Company establishes a reliable estimate of the useful life of intangible assets. The directors assess carrying value and impairment of intangible assets subject to amortisation, whenever events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation and residual values
The directors have reviewed the asset lives and associated residual values of all tangible fixed asset classes and have concluded that asset lives and residual values are appropriate.

The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Recoverability of trade debtors
Trade and other debtors are recognised to the extent that they are judged recoverable. Management reviews are performed to estimate the level of reserves required for irrecoverable debt. Provisions are made specifically against invoices where recoverability is considered to be uncertain.

Management makes allowance for doubtful debts based on an assessment of the recoverability of debtors. Allowances are applied to debtors where events or changes in circumstances indicate that the carrying amounts may not be recoverable. Management specifically analyse historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when making a judgement to evaluate the adequacy of the provision for doubtful debts. Where the expectation is different from the original estimate, such difference will impact the carrying value of debtors and the charge in the profit and loss account.

Taxation
There are many transactions and calculations for which the ultimate tax determination is uncertain. The Company recognises liabilities for anticipated tax issues based on estimates of whether additional taxes will be due.

Management estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.

Provisions
A provision is recognised when the Company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

Stock
Stock provisions are made as applicable when the net realisable value if lower than the actual cost of the motor vehicle held in stock.

Green 4 Motor Group Limited (Registered number: 08777828)

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

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2023 2022
£    £   
Car Sales 44,987,175 38,388,413
Parts, servicing & leasing 3,729,551 3,255,043
48,716,726 41,643,456

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 48,716,726 41,643,456
48,716,726 41,643,456

5. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,787,269 1,382,668
Social security costs 15,512 171,333
Other pension costs 34,282 33,623
1,837,063 1,587,624

The average number of employees during the year was as follows:
2023 2022

Management and Administration 11 24
Sales 16 14
Parts and Servicing 36 32
63 70

The average number of employees by undertakings that were proportionately consolidated during the year was 63 (2022 - 70 ) .

6. DIRECTORS' EMOLUMENTS
2023 2022
£    £   
Directors' remuneration 151,397 174,232

Green 4 Motor Group Limited (Registered number: 08777828)

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

7. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Other operating leases 343,759 341,495
Depreciation - owned assets 100,775 114,869
Goodwill amortisation (12,632 ) (12,632 )
Auditors' remuneration 30,600 20,100

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Stocking interest 343,306 129,007

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 161,818 229,738

Deferred tax (5,580 ) (913 )
Tax on profit 156,238 228,825

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 719,428 1,193,372
Profit multiplied by the standard rate of corporation tax in the UK of
22.518 % (2022 - 19 %)

162,001

226,741

Effects of:
Expenses not deductible for tax purposes 715 (2,400 )
Depreciation in excess of capital allowances 4,522 9,027
Deferred tax charge (5,580 ) (913 )
Profit on disposal (3,565 ) (3,630 )
Allowable expenses for tax purposes (1,013 ) -
Marginal Relief (842 ) -
Total tax charge 156,238 228,825

10. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


Green 4 Motor Group Limited (Registered number: 08777828)

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

11. DIVIDENDS
2023 2022
£    £   
Interim 552,653 502,417

12. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 (262,477 )
AMORTISATION
At 1 November 2022 (110,899 )
Amortisation for year (12,632 )
At 31 October 2023 (123,531 )
NET BOOK VALUE
At 31 October 2023 (138,946 )
At 31 October 2022 (151,578 )

Negative goodwill arises on the consolidation of the group accounts following the purchase of Green 4 Holdings Limited in previous years and is being amortised over 20 years. In the opinion of the directors, this represents a prudent estimate of the period over which the company will derive economic benefit from the reputation and customer loyalty acquired as part of that business.

13. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022 506,529 75,821 119,214
Additions - 23,001 41,593
Disposals - - -
At 31 October 2023 506,529 98,822 160,807
DEPRECIATION
At 1 November 2022 271,211 50,730 94,412
Charge for year 60,400 9,180 17,386
Eliminated on disposal - - -
At 31 October 2023 331,611 59,910 111,798
NET BOOK VALUE
At 31 October 2023 174,918 38,912 49,009
At 31 October 2022 235,318 25,091 24,802

Green 4 Motor Group Limited (Registered number: 08777828)

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

13. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 194,026 27,198 922,788
Additions 121,512 7,101 193,207
Disposals (281,749 ) (2,843 ) (284,592 )
At 31 October 2023 33,789 31,456 831,403
DEPRECIATION
At 1 November 2022 29,757 17,873 463,983
Charge for year 5,779 8,030 100,775
Eliminated on disposal (20,029 ) (2,843 ) (22,872 )
At 31 October 2023 15,507 23,060 541,886
NET BOOK VALUE
At 31 October 2023 18,282 8,396 289,517
At 31 October 2022 164,269 9,325 458,805

14. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 250,100
NET BOOK VALUE
At 31 October 2023 250,100
At 31 October 2022 250,100


Green 4 Motor Group Limited (Registered number: 08777828)

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

14. FIXED ASSET INVESTMENTS - continued


Country of Class of Percentage held Nature of
incorporation shares by the company business


Green 4 Holdings Limited

England

Ordinary

100%
Holding
Company



Green 4 Motor Company Limited *


England


Ordinary


100%
Motor
vehicle
retailers


Green 4 Investments Limited

England

Ordinary

100%
Investment
Company

* Held by Green 4 Holdings Limited

The registered office addresses of the above named companies, are the same as Green 4 Motor Group Limited, which is detailed on the Company Information page.

15. STOCKS

Group
2023 2022
£    £   
Finished goods 8,582,762 4,674,574

Stocks pledged as security for funding facilities amounted to £8,360,141 (2022: £4,412,242).

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 905,304 773,376 - -
Amounts owed by group undertakings 1 - - -
Other debtors 135,133 10,000 - -
Directors' current accounts 607,544 410,862 607,544 410,862
Tax 57,656 57,656 57,656 57,656
Prepayments and accrued income 248,907 254,702 - -
1,954,545 1,506,596 665,200 468,518

Green 4 Motor Group Limited (Registered number: 08777828)

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

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 19) 106,250 106,250 - -
Trade creditors 2,220,732 1,830,621 - -
Consignment stock creditor 3,227,395 1,354,763 - -
Vehicle funding creditor 3,508,878 2,075,925 - -
Amounts owed to group undertakings - - 1,121,128 1,356,907
Tax 161,774 287,380 - 57,656
Social security and other taxes 110,333 111,225 - -
VAT 16,350 93,223 - -
Other creditors 263,587 188,709 - -
Directors' current accounts 90,031 70,967 90,031 70,967
Accruals and deferred income 442,571 421,066 - -
10,147,901 6,540,129 1,211,159 1,485,530

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2023 2022
£    £   
Bank loans (see note 19) 102,083 208,334

19. LOANS

An analysis of the maturity of loans is given below:
2023 2022
£ £

Amounts payable by instalments and falling due within one year:
Bank loans 106,250 106,250

Amounts payable by instalments and due between one and five years:
Bank loans 102,083 208,334





20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Green 4 Motor Group Limited (Registered number: 08777828)

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

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 342,943 315,920
Between one and five years 1,065,396 1,053,911
In more than five years 1,594,504 1,632,559
3,002,843 3,002,390

Operating lease payments recognised as an expense in the year amounted to £343,759 (2022: £341,495).

21. SECURED DEBTS

The following secured debts are included within creditors:

Group
2023 2022
£    £   
Bank loans 208,333 314,584

The bank loan is secured by way of a Debenture, being a fixed and floating charge over the whole assets of the company.

22. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 60,159 65,739

Group
Deferred
tax
£   
Balance at 1 November 2022 65,739
Provided during year (5,580 )
Balance at 31 October 2023 60,159

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
124,600 Ordinary £1 124,600 124,600

The above shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.

Green 4 Motor Group Limited (Registered number: 08777828)

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

24. RESERVES

Group
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 November 2022 1,374,763 24,800 1,399,563
Profit for the year 563,190 563,190
Dividends (552,653 ) (552,653 )
At 31 October 2023 1,385,300 24,800 1,410,100

Company
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 November 2022 - 24,800 24,800
Profit for the year 552,653 552,653
Dividends (552,653 ) (552,653 )
At 31 October 2023 - 24,800 24,800


25. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The amount charged against profits represent the contributions payable to the scheme in respect of the accounts accounting period and amounts to £34,282 (2022: £33,623.) There were £3,178 outstanding contributions payable at the year end (2022: £2,879).

26. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
T Leggett
Balance outstanding at start of year 410,862 (37,172 )
Amounts advanced 501,707 734,258
Amounts repaid (305,025 ) (286,224 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 607,544 410,862

Interest has been charged on the overdrawn directors loan account balance at the HM Revenue & Customs official rate of interest for the year being 2% until 5th April 2023 and 2.25% thereafter.

Green 4 Motor Group Limited (Registered number: 08777828)

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

27. RELATED PARTY DISCLOSURES

During the year, total dividends of £552,653 were paid to the directors.

During the year, the total amount paid to key management personnel, including directors fees, was £166,909 (2022: £193,210).

28. ULTIMATE CONTROLLING PARTY

The controlling party is T Leggett.

Mr T Leggett owns 55.2% of the company's share capital at the year end and therefore has control.