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REGISTERED NUMBER: 04674510 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

D & P MOTOR FACTORS LIMITED

D & P MOTOR FACTORS LIMITED (REGISTERED NUMBER: 04674510)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D & P MOTOR FACTORS LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTORS: P Southcott
Mrs D M Southcott





REGISTERED OFFICE: Unit H Opus 36
New Potter Grange Road
Goole
DN14 6BZ





REGISTERED NUMBER: 04674510 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

D & P MOTOR FACTORS LIMITED (REGISTERED NUMBER: 04674510)

BALANCE SHEET
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,854
Tangible assets 5 27,258 24,971
27,258 27,825

CURRENT ASSETS
Stocks 254,661 240,358
Debtors 6 630,979 654,180
Cash at bank and in hand 1,507 7,669
887,147 902,207
CREDITORS
Amounts falling due within one year 7 260,781 303,825
NET CURRENT ASSETS 626,366 598,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

653,624

626,207

CREDITORS
Amounts falling due after more than one year 8 (24,117 ) (34,028 )

PROVISIONS FOR LIABILITIES (4,237 ) (3,100 )
NET ASSETS 625,270 589,079

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 625,220 589,029
SHAREHOLDERS' FUNDS 625,270 589,079

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

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

D & P MOTOR FACTORS LIMITED (REGISTERED NUMBER: 04674510)

BALANCE SHEET - continued
30 November 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





P Southcott - Director


D & P MOTOR FACTORS LIMITED (REGISTERED NUMBER: 04674510)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

D & P Motor Factors Limited is a private company, limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Unit H Opus 36, New Potter Grange Road, Goole, DN14 6BZ.

The company's principal activity during the year continued to be the distribution of motor parts.

The presentational currency of the financial statements is 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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts. Turnover is recognised at point of sale.

Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Goodwill
Goodwill is being amortised over its remaining useful life of 7 years. Goodwill is recognised at cost less any provision for impairment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 10% on cost
Motor vehicles - 25% on a reducing balance basis

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.


D & P MOTOR FACTORS LIMITED (REGISTERED NUMBER: 04674510)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued
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.

Pensions
Contributions to defined contribution plans are recognised in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 187,485
AMORTISATION
At 1 December 2022 184,631
Charge for year 2,854
At 30 November 2023 187,485
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 2,854

D & P MOTOR FACTORS LIMITED (REGISTERED NUMBER: 04674510)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023


5. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 December 2022 51,112 18,350 69,462
Additions 1,609 6,750 8,359
Disposals - (7,500 ) (7,500 )
At 30 November 2023 52,721 17,600 70,321
DEPRECIATION
At 1 December 2022 31,419 13,072 44,491
Charge for year 4,251 1,387 5,638
Eliminated on disposal - (7,066 ) (7,066 )
At 30 November 2023 35,670 7,393 43,063
NET BOOK VALUE
At 30 November 2023 17,051 10,207 27,258
At 30 November 2022 19,693 5,278 24,971

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 185,278 222,670
Other debtors 431,813 420,926
Prepayments 13,888 10,584
630,979 654,180

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 47,711 9,666
Trade creditors 186,185 191,710
Tax 9,095 30,846
Social security and other taxes 2,149 -
VAT 11,435 7,652
Other creditors 1,951 6,306
Directors' current accounts - 53,000
Accrued expenses 2,255 4,645
260,781 303,825

D & P MOTOR FACTORS LIMITED (REGISTERED NUMBER: 04674510)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,162 9,911
Bank loans - 2-5 years 13,955 24,117
24,117 34,028

9. OTHER FINANCIAL COMMITMENTS

20222021
££
Total future minimum payments under non-cancellable operating
leases


26,250


26,250