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REGISTERED NUMBER: 05382008 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LLANDUDNO JUNCTION CAR CENTRE LIMITED

LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,280 6,560
Tangible assets 5 85,262 42,890
88,542 49,450

CURRENT ASSETS
Stocks 373,425 405,599
Debtors 6 9,104 -
Cash at bank and in hand 27,142 61,212
409,671 466,811
CREDITORS
Amounts falling due within one year 7 124,264 133,622
NET CURRENT ASSETS 285,407 333,189
TOTAL ASSETS LESS CURRENT
LIABILITIES

373,949

382,639

CREDITORS
Amounts falling due after more than one
year

8

(50,834

)

(22,440

)

PROVISIONS FOR LIABILITIES (14,936 ) (7,035 )
NET ASSETS 308,179 353,164

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 308,177 353,162
308,179 353,164

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

BALANCE SHEET - continued
31 MARCH 2024


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 31 July 2024 and were signed on its behalf by:





Mrs A G Jones - Director


LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Llandudno Junction Car Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05382008

Registered office: Glaslyn Ffordd Y Parc
Parc Menai
Bangor
Gwynedd
LL57 4FE

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 represents sales of motor vehicles, excluding value added tax.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost, 20% on reducing balance and 5% 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 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.


LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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 commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful life.

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 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.

Hire purchase commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful life.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 65,600
AMORTISATION
At 1 April 2023 59,040
Charge for year 3,280
At 31 March 2024 62,320
NET BOOK VALUE
At 31 March 2024 3,280
At 31 March 2023 6,560

LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 117,825
Additions 64,162
Disposals (8,875 )
At 31 March 2024 173,112
DEPRECIATION
At 1 April 2023 74,935
Charge for year 21,790
Eliminated on disposal (8,875 )
At 31 March 2024 87,850
NET BOOK VALUE
At 31 March 2024 85,262
At 31 March 2023 42,890

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 28,048
Additions 61,905
Transfer to ownership (28,048 )
At 31 March 2024 61,905
DEPRECIATION
At 1 April 2023 10,097
Charge for year 12,381
Transfer to ownership (10,097 )
At 31 March 2024 12,381
NET BOOK VALUE
At 31 March 2024 49,524
At 31 March 2023 17,951

LLANDUDNO JUNCTION CAR CENTRE LIMITED (REGISTERED NUMBER: 05382008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 9,104 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,204 9,949
Hire purchase contracts (see note 9) 12,049 6,212
Trade creditors 7,949 11,821
Taxation and social security 38,494 40,782
Other creditors 55,568 64,858
124,264 133,622

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,235 22,440
Hire purchase contracts (see note 9) 38,599 -
50,834 22,440

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 12,049 6,212
Between one and five years 38,599 -
50,648 6,212

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 50,648 6,212

The bank overdraft is secured by a fixed and floating charge over all the company's assets and personal guarantees by the directors.Stock loan is secured by personal guarantees. HP contracts are secured on the associated asset.