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REGISTERED NUMBER: 04371613 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Ticehurst Motors Limited

Ticehurst Motors Limited (Registered number: 04371613)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ticehurst Motors Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A F Tucker
M A Tucker
D S Tucker
L S Tucker





SECRETARY: L Khan





REGISTERED OFFICE: Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW





REGISTERED NUMBER: 04371613 (England and Wales)





ACCOUNTANTS: Peter Hodgson & Co.
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

Ticehurst Motors Limited (Registered number: 04371613)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 39,019 46,098
39,019 46,098

CURRENT ASSETS
Inventories 6 473,754 375,073
Debtors 7 - 506
Cash at bank 790,881 639,998
1,264,635 1,015,577
CREDITORS
Amounts falling due within one year 8 234,982 172,307
NET CURRENT ASSETS 1,029,653 843,270
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,068,672

889,368

CREDITORS
Amounts falling due after more than one
year

9

(3,315

)

(1,539

)

PROVISIONS FOR LIABILITIES 10 (3,458 ) (989 )
NET ASSETS 1,061,899 886,840

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 1,061,799 886,740
SHAREHOLDERS' FUNDS 1,061,899 886,840

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

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

Ticehurst Motors Limited (Registered number: 04371613)

Statement of Financial Position - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





A F Tucker - Director


Ticehurst Motors Limited (Registered number: 04371613)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Ticehurst 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.

Significant judgements and estimates
There are no significant judgements or estimates pertaining to the preparation of these accounts.

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

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.

Goodwill on incorporation of the company was amortised over its estimated useful life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

The company owns a small number of vehicles which it uses for hire and as a courtesy car fleet. As these vehicles are kept for a period of time and not actively traded they are accounted for as fixed assets and depreciated under the company's vehicle depreciation policy.

Stocks
Inventories 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 statement of financial position date.


Ticehurst Motors Limited (Registered number: 04371613)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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 statement of financial position 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.

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.

Functional currency
The functional currency of the company is £ Sterling.

Financial instruments
Basic financial instruments comprising debtors, bank and cash balances are stated at fair value less provision for impairments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 165,000
AMORTISATION
At 1 June 2023
and 31 May 2024 165,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Ticehurst Motors Limited (Registered number: 04371613)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 52,881 51,050 37,676 141,607
Additions 4,200 26,875 - 31,075
Disposals - (36,375 ) - (36,375 )
At 31 May 2024 57,081 41,550 37,676 136,307
DEPRECIATION
At 1 June 2023 50,951 17,195 27,363 95,509
Charge for year 1,533 8,895 2,578 13,006
Eliminated on disposal - (11,227 ) - (11,227 )
At 31 May 2024 52,484 14,863 29,941 97,288
NET BOOK VALUE
At 31 May 2024 4,597 26,687 7,735 39,019
At 31 May 2023 1,930 33,855 10,313 46,098

6. INVENTORIES
2024 2023
£    £   
Stocks 473,754 375,073

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 506

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 36,298 43,200
Corporation tax 93,802 38,228
Social security and other taxes 3,040 3,793
Value added tax 36,941 42,616
Proposed dividends 50,000 30,000
Accruals & other creditors 14,901 14,470
234,982 172,307

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Director's loan - A Tucker 1,698 811
Director's loan - D Tucker 797 408
Director's loan - M Tucker 820 320
3,315 1,539

Ticehurst Motors Limited (Registered number: 04371613)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,458 989

Deferred
tax
£   
Balance at 1 June 2023 989
Provided during year 2,469
Balance at 31 May 2024 3,458

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 June 2023 886,740
Profit for the year 285,559
Dividends (110,500 )
At 31 May 2024 1,061,799

13. ULTIMATE CONTROLLING PARTY

No individual shareholder has overall control of the company.