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Registered number: 00456492
Joe and S. Lunt Motor Holdings Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Allen Rose
Chartered Certified Accountants
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Joe and S. Lunt Motor Holdings Limited for the year ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Joe and S. Lunt Motor Holdings Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Joe and S. Lunt Motor Holdings Limited , as a body, in accordance with the terms of our engagement letter dated 17 October 2023. Our work has been undertaken solely to prepare for your approval the accounts of Joe and S. Lunt Motor Holdings Limited and state those matters that we have agreed to state to the directors of Joe and S. Lunt Motor Holdings Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Joe and S. Lunt Motor Holdings Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Joe and S. Lunt Motor Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Joe and S. Lunt Motor Holdings Limited . You consider that Joe and S. Lunt Motor Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Joe and S. Lunt Motor Holdings Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
10th September 2024
Allen Rose
Chartered Certified Accountants
Creative Industries Building, Mammoth Drive
Wolverhampton Science Park
Wolverhampton
West Midlands
WV10 9TG
Page 1
Page 2
Balance Sheet
Registered number: 00456492
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 900,403 900,475
900,403 900,475
CURRENT ASSETS
Debtors 5 77,158 55,089
Cash at bank and in hand 50,000 75,587
127,158 130,676
Creditors: Amounts Falling Due Within One Year 6 (188,065 ) (218,402 )
NET CURRENT ASSETS (LIABILITIES) (60,907 ) (87,726 )
TOTAL ASSETS LESS CURRENT LIABILITIES 839,496 812,749
NET ASSETS 839,496 812,749
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 838,496 811,749
SHAREHOLDERS' FUNDS 839,496 812,749
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S J Lunt
Director
10th September 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Joe and S. Lunt Motor Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00456492 . The registered office is 176 Queen Street, Walsall, West Midlands, WS2 9NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental of property and recharge of utilities.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 15% Reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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4. Tangible Assets
Investment Properties Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 900,000 109,831 15,790 1,025,621
As at 31 March 2024 900,000 109,831 15,790 1,025,621
Depreciation
As at 1 April 2023 - 109,830 15,316 125,146
Provided during the period - - 72 72
As at 31 March 2024 - 109,830 15,388 125,218
Net Book Value
As at 31 March 2024 900,000 1 402 900,403
As at 1 April 2023 900,000 1 474 900,475
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 31,354 20,069
Prepayments and accrued income 44,935 34,244
Other debtors 869 776
77,158 55,089
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 46,955 38,809
Corporation tax 8,497 1,520
Other taxes and social security 1,275 859
Other creditors 113,919 160,779
Other creditors and accruals 17,419 16,435
188,065 218,402
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 5