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REGISTERED NUMBER: 09466126 (England and Wales)













BEXHILL MOTORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BEXHILL MOTORS LIMITED (REGISTERED NUMBER: 09466126)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BEXHILL MOTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs V Hosier
J Over





REGISTERED OFFICE: Bexhill Motors
Terminus Road
Bexhill on Sea
East Sussex
TN39 3LR





REGISTERED NUMBER: 09466126 (England and Wales)





ACCOUNTANTS: SJF Accounting & Tax Ltd t/a SJF Accountants
Chartered Certified Accountants
Rothsay House
5 South Street
East Hoathly
East Sussex
BN8 6DS

BEXHILL MOTORS LIMITED (REGISTERED NUMBER: 09466126)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 211,789 254,148
Tangible assets 5 47,353 22,348
259,142 276,496

CURRENT ASSETS
Stocks 1,056,119 1,334,901
Debtors 6 47,982 16,602
Cash at bank and in hand 9,767 19,751
1,113,868 1,371,254
CREDITORS
Amounts falling due within one year 7 1,466,665 1,510,931
NET CURRENT LIABILITIES (352,797 ) (139,677 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(93,655

)

136,819

CREDITORS
Amounts falling due after more than one
year

8

(28,698

)

(34,259

)

PROVISIONS FOR LIABILITIES (11,838 ) (4,246 )
NET (LIABILITIES)/ASSETS (134,191 ) 98,314

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings (134,291 ) 98,214
SHAREHOLDERS' FUNDS (134,191 ) 98,314

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

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

BEXHILL MOTORS LIMITED (REGISTERED NUMBER: 09466126)

BALANCE SHEET - continued
31 MARCH 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 18 September 2024 and were signed on its behalf by:




Mrs V Hosier - Director



J Over - Director


BEXHILL MOTORS LIMITED (REGISTERED NUMBER: 09466126)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Bexhill 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Monetary amounts in these financial statements are rounded to the nearest £.

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.

Revenue from the sale of vehicles and workshop services is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on the delivery of the vehicle), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset the Company estimate the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to sell. The impairment loss is recognised immediately in the profit and loss.

BEXHILL MOTORS LIMITED (REGISTERED NUMBER: 09466126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised costs are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The accounts have been prepared on a going concern basis and the directors consider this appropriate as outside financial support is available to the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

BEXHILL MOTORS LIMITED (REGISTERED NUMBER: 09466126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 423,582
AMORTISATION
At 1 April 2023 169,434
Charge for year 42,359
At 31 March 2024 211,793
NET BOOK VALUE
At 31 March 2024 211,789
At 31 March 2023 254,148

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 42,879
Additions 41,522
At 31 March 2024 84,401
DEPRECIATION
At 1 April 2023 20,531
Charge for year 16,517
At 31 March 2024 37,048
NET BOOK VALUE
At 31 March 2024 47,353
At 31 March 2023 22,348

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 47,982 16,602

BEXHILL MOTORS LIMITED (REGISTERED NUMBER: 09466126)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,351 19,306
Trade creditors 21,313 47,370
Amounts owed to group undertakings 58,683 49,827
Taxation and social security 36,031 63,547
Other creditors 1,336,287 1,330,881
1,466,665 1,510,931

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 28,698 34,259

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 53,000 60,077
Between one and five years 53,000 106,000
106,000 166,077

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Stocking loan facility 275,428 298,268

The stocking loan is secured on the vehicles to which it relates.

11. CALLED UP SHARE CAPITAL

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

12. RELATED PARTY DISCLOSURES

At 31st March 2024 the company owed the directors £921,840 (2023 £900,840). The loans are unsecured, interest free and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The parent company is RPO Properties Limited and the ultimate controlling parties are Mr J Over and Mrs V Hosier.