Registration number:
Sylvan Motors Ltd
for the Period from 1 October 2022 to 29 September 2023
Sylvan Motors Ltd
(Registration number: 11275675)
Balance Sheet as at 29 September 2023
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2023 |
2022 |
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Current assets |
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Debtors |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
For the financial period ending 29 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.
Approved and authorised by the
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Sylvan Motors Ltd
Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis. The directors of Sylvan Motors Ltd have
agreed to ensure the company have sufficient funds to meet their day to day working capital requirements.
The directors consider that these facilities will continue to be made available to the company. On this basis, the
directors consider it appropriate to prepare the financial statements on the going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of motor vehicles in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Sylvan Motors Ltd
Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023
Government grants
Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
Any amounts outstanding at the year end will be included within other debtors.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined on the original purchase price of the vehicles.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Debtors |
2023 |
2022 |
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Other debtors |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Other creditors |
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Creditors: amounts falling due after more than one year
2023 |
2022 |
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Due after one year |
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Other non-current financial liabilities |
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