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REGISTERED NUMBER: 00350470 (England and Wales)


















F.B. MOTORS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






F.B. MOTORS LIMITED (REGISTERED NUMBER: 00350470)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F.B. MOTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







Directors: Mr N J Belcher
Mr J D Pimblett
Ms F V Wharton





Secretary: Ms F V Wharton





Registered office: 19 Ladysmith Avenue
Brighlingsea
Colchester
Essex
CO7 0JD





Registered number: 00350470 (England and Wales)





Accountants: Chanter, Browne & Curry
1 Plato Place
72-74 St Dionis Road
Fulham
London
SW6 4TU

F.B. MOTORS LIMITED (REGISTERED NUMBER: 00350470)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investments 4 331,412 348,633
Investment property 5 1,677,000 1,677,000
2,008,412 2,025,633

Current assets
Debtors 6 23,599 17,834
Cash at bank 42,795 72,393
66,394 90,227
Creditors
Amounts falling due within one year 7 145,617 148,236
Net current liabilities (79,223 ) (58,009 )
Total assets less current liabilities 1,929,189 1,967,624

Creditors
Amounts falling due after more than one
year

8

(2,100

)

(2,100

)

Provisions for liabilities (304,000 ) (304,000 )
Net assets 1,623,089 1,661,524

Capital and reserves
Called up share capital 3,000 3,000
Fair value reserve 9 1,475,478 1,473,231
Retained earnings 9 144,611 185,293
1,623,089 1,661,524

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.

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.

F.B. MOTORS LIMITED (REGISTERED NUMBER: 00350470)

BALANCE SHEET - continued
31 MARCH 2024



The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2024 and were signed on its behalf by:




Mr J D Pimblett - Director



Ms F V Wharton - Director


F.B. MOTORS LIMITED (REGISTERED NUMBER: 00350470)

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

1. Statutory information

F.B. Motors 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable for the year, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Deferred tax liabilities are shown as 'provisions for liabilities' on the balance sheet.

Fixed asset investments
Investments in quoted shares are included in the balance sheet at fair value. Realised gains and losses and fair value adjustments are recognised in the income statement.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

F.B. MOTORS LIMITED (REGISTERED NUMBER: 00350470)

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

4. Fixed asset investments
Other
investments
£   
Cost or valuation
At 1 April 2023 348,633
Additions 58,656
Disposals (78,124 )
Revaluations 2,247
At 31 March 2024 331,412
Net book value
At 31 March 2024 331,412
At 31 March 2023 348,633

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2024 331,412

If the fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 307,837 327,305

The fixed asset investments were valued on an open market basis on 31 March 2024 by Charles Stanley & Co. Limited .

5. Investment property
Total
£   
Fair value
At 1 April 2023
and 31 March 2024 1,677,000
Net book value
At 31 March 2024 1,677,000
At 31 March 2023 1,677,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 1,677,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 4,440 4,440

The investment property was valued on an open market basis on 31 March 2024 by the directors .

F.B. MOTORS LIMITED (REGISTERED NUMBER: 00350470)

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 23,599 17,834

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors - 58
Taxation and social security 11,450 18,208
Other creditors 134,167 129,970
145,617 148,236

Other creditors includes £45,037 owing to FC Bull Will Trust. The loan is unsecured, interest free, and has no set repayment date. The trustees of FC Bull Will Trust have a controlling interest in the company's shares.

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Other creditors 2,100 2,100

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 2,100 2,100

9. Reserves
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 185,293 1,473,231 1,658,524
Profit for the year 47,565 - 47,565
Dividends (86,000 ) - (86,000 )
Transfer (2,247 ) 2,247 -
At 31 March 2024 144,611 1,475,478 1,620,089