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Registered Number: 12279413
England and Wales

 

 

 

ARNAGE MOTORS UK LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Directors Greg Richardson
Geoff Richardson
Registered Number 12279413
Registered Office Arcadia House
Maritime Walk, Ocean Village
Southampton
Hampshire
SO14 3TL
Accountants Magic Beans
Co HCA 12 Cromac Place
The Gasworks
Belfast
BT7 2JB
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 December 2023.
Principal activities
Principal activity of the company during the financial year is the sale of motor vehicles.
Directors
The directors who served the company throughout the year were as follows:
Greg Richardson
Geoff Richardson
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Greg Richardson
Director

Date approved: 03 September 2024
2
 
 
Notes
 
2023
£
  2022
£
Turnover 1,923,175    340,150 
Cost of sales (1,923,275)   (340,150)
Gross profit/loss (100)  
Administrative expenses (3,064)   (1,408)
Operating loss (3,164)   (1,408)
Interest payable and similar charges   (4)
Profit/(Loss) on ordinary activities before taxation (3,164)   (1,412)
Tax on profit on ordinary activities  
Profit/(Loss) for the financial year (3,164)   (1,412)
 
3
 
 
Notes
 
2023
£
  2022
£
Current assets      
Debtors 3 236,015    68,328 
Cash at bank and in hand 85    8,569 
236,100    76,897 
Creditors: amount falling due within one year 4 (240,576)   (78,209)
Net current assets (4,476)   (1,312)
 
Total assets less current liabilities (4,476)   (1,312)
Net assets (4,476)   (1,312)
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account (4,576)   (1,412)
Shareholders' funds (4,476)   (1,312)
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 03 September 2024 and were signed on its behalf by:


-------------------------------
Greg Richardson
Director
4
General Information
Arnage Motors UK Limited is a private company, limited by shares, registered in England and Wales, registration number 12279413, registration address Arcadia House, Maritime Walk, Ocean Village, Southampton, Hampshire, SO14 3TL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
2.

Average number of employees

The average monthly number of employees, including directors, during the financial year was 2, (2022 - 2).
Average number of employees during the year was 2 (2022 : 2).
3.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 24,952    53,715 
Called up Share Capital Not Paid 100    100 
VAT 210,963    14,513 
236,015    68,328 

4.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 53,450    179 
Amounts Owed to Participating Interests 187,126    78,030 
Other Creditors  
240,576    78,209 

5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

6.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Arnage Group Designated Activity Company187,126 78,030 187,126 78,030 

Included in creditors is an amount owed to Arnage Group Designated Activity Company, the Parent Company of Arnage Motors UK Limited. At the 31st December 2023 the amount owed to the Parent Company was £187,126.
7.

Events after Balance sheet date

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.
8.

Parent company

The company regards Arnage Group Designated Activity Company as its parent company.
5