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REGISTERED NUMBER: 02684065 (England and Wales)












REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

BEDALE MOTOR FACTORS LIMITED

BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023




Page

Report of the Directors 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH NOVEMBER 2023

The directors present their report with the financial statements of the company for the year ended 30th November 2023.

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

R W Jenkins
A R Anderson
Mrs S A Jenkins

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs S A Jenkins - Secretary


18th March 2024

BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

ABRIDGED BALANCE SHEET
30TH NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 168,221 163,091

CURRENT ASSETS
Stocks 235,088 246,349
Debtors 475,095 380,335
Cash at bank and in hand 151,829 114,538
862,012 741,222
CREDITORS
Amounts falling due within one year 738,291 641,785
NET CURRENT ASSETS 123,721 99,437
TOTAL ASSETS LESS CURRENT
LIABILITIES

291,942

262,528

CREDITORS
Amounts falling due after more than one
year

(67,273

)

(71,861

)

PROVISIONS FOR LIABILITIES (9,515 ) (7,971 )
NET ASSETS 215,154 182,696

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 6 115,154 82,696
SHAREHOLDERS' FUNDS 215,154 182,696

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

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

BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

ABRIDGED BALANCE SHEET - continued
30TH NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 18th March 2024 and were signed on its behalf by:





R W Jenkins - Director


BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023

1. STATUTORY INFORMATION

Bedale Motor Factors 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: 02684065

Registered office: Tutin Road
Leeming Bar Industrial Estate
Leeming bar
Northallerton
North Yorkshire
DL7 9DQ

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer 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.

BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st December 2022 346,767
Additions 27,118
Disposals (13,935 )
At 30th November 2023 359,950
DEPRECIATION
At 1st December 2022 183,676
Charge for year 19,133
Eliminated on disposal (11,080 )
At 30th November 2023 191,729
NET BOOK VALUE
At 30th November 2023 168,221
At 30th November 2022 163,091

BEDALE MOTOR FACTORS LIMITED (REGISTERED NUMBER: 02684065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

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

Totals
£   
COST
At 1st December 2022
and 30th November 2023 23,294
DEPRECIATION
At 1st December 2022 5,824
Charge for year 4,368
At 30th November 2023 10,192
NET BOOK VALUE
At 30th November 2023 13,102
At 30th November 2022 17,470

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 6,920 16,138

6. RESERVES
Retained
earnings
£   

At 1st December 2022 82,696
Profit for the year 116,058
Dividends (83,600 )
At 30th November 2023 115,154

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors continue to support the company with finance, and consider their loan accounts with the company to be semi-permanent and as such are classified as long term, apart from the amounts anticipated to be drawn within one year which are included in current liabilities.
The total amount owed to the directors was £188,639 (2022 £206,623).

8. RELATED PARTY DISCLOSURES

The controlling party is R W Jenkins.

Mr R W jenkins is the ultimate controlling party of the company by virtue of his shareholding within the company. He also has a long term loan to the company which is interest free and is not immediately repayable.