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REGISTERED NUMBER: 04626460 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DAVID WISE MOTORS LIMITED

DAVID WISE MOTORS LIMITED (REGISTERED NUMBER: 04626460)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


DAVID WISE MOTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr J. Wise
Mr. D. W. Wise
Mrs M. Wise



REGISTERED OFFICE: 30 Church Lane
Humberston
GRIMSBY
DN36 4HU



REGISTERED NUMBER: 04626460 (England and Wales)



ACCOUNTANTS: Smethurst & Co LLP
12 Abbey Road
GRIMSBY
DN32 0HL



BANKERS: Santander
Bridle Road
BOOTLE
GIR 0AA

DAVID WISE MOTORS LIMITED (REGISTERED NUMBER: 04626460)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,160 6,160
Tangible assets 5 110,542 21,357
116,702 27,517

CURRENT ASSETS
Stocks 76,011 69,677
Debtors 179,416 181,263
Cash at bank and in hand 26,936 34,234
282,363 285,174
CREDITORS
Amounts falling due within one year 115,320 53,525
NET CURRENT ASSETS 167,043 231,649
TOTAL ASSETS LESS CURRENT
LIABILITIES

283,745

259,166

PROVISIONS FOR LIABILITIES 4,053 3,080
NET ASSETS 279,692 256,086

CAPITAL AND RESERVES
Allotted, called up and
fully paid share capital 3 3
Profit and loss account 279,689 256,083
SHAREHOLDERS' FUNDS 279,692 256,086

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.

DAVID WISE MOTORS LIMITED (REGISTERED NUMBER: 04626460)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Mr J. Wise - Director


DAVID WISE MOTORS LIMITED (REGISTERED NUMBER: 04626460)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

David Wise 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 (£).


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.

Goodwill
Goodwill arising on the acquisition of businesses, represents the excess of the fair value of consideration over the fair value of identifiable assets and liabilities acquired.

Goodwill is amortised in equal instalments over its expected life which is estimated at ten years, except where it has been identified as impaired in the period, in which case it is written down as appropriate.

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 - 10% Reducing Balance
Motor vehicles - 25% Reducing Balance
Computer equipment - 33% Straight Line

Stocks
Stocks 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 Statement of Income and Retained Earnings, 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.

DAVID WISE MOTORS LIMITED (REGISTERED NUMBER: 04626460)

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 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 21,160
AMORTISATION
At 1 January 2023
and 31 December 2023 15,000
NET BOOK VALUE

At 31 December 2023 6,160
At 31 December 2022 6,160

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 67,884
Additions 93,938
At 31 December 2023 161,822
DEPRECIATION
At 1 January 2023 46,527
Charge for year 4,753
At 31 December 2023 51,280
NET BOOK VALUE
At 31 December 2023 110,542
At 31 December 2022 21,357

6. RELATED PARTY DISCLOSURES

The company has a loan account with Tommy Sant Car Care Limited, a company wholly owned by a director. The balance outstanding and included in debtors at 31 December, 2022 was £121,600 (2021 - £124,350) and is repayable on demand.