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REGISTERED NUMBER: 03275485 (England and Wales)















Financial Statements

for the Year Ended 31 December 2023

for

Harry Motors Ltd

Harry Motors Ltd (Registered number: 03275485)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Harry Motors Ltd

Company Information
for the year ended 31 December 2023







DIRECTORS: Mr S Pindoria
Mr V Pindoria





REGISTERED OFFICE: Maple House
382 Kenton Road
Kenton
Harrow
Middlesex
HA3 9DP





REGISTERED NUMBER: 03275485 (England and Wales)





ACCOUNTANTS: KBMD Limited
Chartered Certified Accountants
Maple House
382 Kenton Road
Harrow
Middlesex
HA3 9DP

Harry Motors Ltd (Registered number: 03275485)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £ £
FIXED ASSETS
Intangible assets 4 4,999 6,899
Tangible assets 5 9,533,641 9,527,169
Investments 6 192,950 192,950
9,731,590 9,727,018

CURRENT ASSETS
Debtors 7 3,692,377 3,693,362
Prepayments and accrued income 2,068 1,595
Cash at bank 22,103 94,637
3,716,548 3,789,594
CREDITORS
Amounts falling due within one year 8 (165,553 ) (127,554 )
NET CURRENT ASSETS 3,550,995 3,662,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,282,585

13,389,058

CREDITORS
Amounts falling due after more than one
year

9

(4,684,252

)

(4,752,706

)
NET ASSETS 8,598,333 8,636,352

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 5,340,064 5,340,064
Retained earnings 3,258,169 3,296,188
SHAREHOLDERS' FUNDS 8,598,333 8,636,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

Harry Motors Ltd (Registered number: 03275485)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:




Mr S Pindoria - Director



Mr V Pindoria - Director


Harry Motors Ltd (Registered number: 03275485)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Harry Motors Ltd 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 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.

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
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

Harry Motors Ltd (Registered number: 03275485)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2023
and 31 December 2023 37,999
AMORTISATION
At 1 January 2023 31,100
Charge for year 1,900
At 31 December 2023 33,000
NET BOOK VALUE
At 31 December 2023 4,999
At 31 December 2022 6,899

5. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£ £ £
COST OR VALUATION
At 1 January 2023 9,229,980 1,301 125,167
Additions - - 76,082
Disposals - - -
At 31 December 2023 9,229,980 1,301 201,249
DEPRECIATION
At 1 January 2023 - - 109,548
Charge for year - - 4,597
Eliminated on disposal - - -
At 31 December 2023 - - 114,145
NET BOOK VALUE
At 31 December 2023 9,229,980 1,301 87,104
At 31 December 2022 9,229,980 1,301 15,619

Harry Motors Ltd (Registered number: 03275485)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST OR VALUATION
At 1 January 2023 209,955 344,594 22,775 9,933,772
Additions - 25,710 - 101,792
Disposals - (53,710 ) - (53,710 )
At 31 December 2023 209,955 316,594 22,775 9,981,854
DEPRECIATION
At 1 January 2023 189,296 91,956 15,803 406,603
Charge for year 5,165 65,641 1,743 77,146
Eliminated on disposal - (35,536 ) - (35,536 )
At 31 December 2023 194,461 122,061 17,546 448,213
NET BOOK VALUE
At 31 December 2023 15,494 194,533 5,229 9,533,641
At 31 December 2022 20,659 252,638 6,972 9,527,169

Cost or valuation at 31 December 2023 is represented by:

Freehold Long Plant and
property leasehold machinery
£ £ £
Valuation in 2023 9,229,980 1,301 201,249

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
Valuation in 2023 209,955 316,594 22,775 9,981,854

Freehold properties were valued on an open market value basis on 31 December 2022 by the directors .

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.12.23 31.12.22
£ £
Motor vehicle investment 192,950 192,950

Harry Motors Ltd (Registered number: 03275485)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade debtors 33,851 41,942
Other debtors 3,658,526 3,651,420
3,692,377 3,693,362

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Hire purchase contracts 33,678 29,672
Trade creditors 22,005 36,636
Taxation and social security 34,870 61,246
Other creditors 75,000 -
165,553 127,554

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£ £
Bank loans 2,908,452 2,963,992
Hire purchase contracts 112,456 118,714
Other creditors 1,663,344 1,670,000
4,684,252 4,752,706

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs 2,870,231 2,921,000

10. RESERVES
Revaluation
reserve
£
At 1 January 2023
and 31 December 2023 5,340,064

11. RELATED PARTY DISCLOSURES

The related party balance represent amounts owed from companies under common control.