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REGISTERED NUMBER: 04950090 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st December 2023

for

Dayoak Motors Limited

Dayoak Motors Limited (Registered number: 04950090)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dayoak Motors Limited

Company Information
for the year ended 31st December 2023







DIRECTOR: J W Jacobsen MBA





REGISTERED OFFICE: Unit G1 Hastingwood Trading Estate
Harbet Road
London
N18 3HT





REGISTERED NUMBER: 04950090 (England and Wales)





ACCOUNTANTS: Apple Accounting Services Ltd
Chartered Management Accountants
12b Sun Street
Waltham Abbey
Essex
EN9 1EE

Dayoak Motors Limited (Registered number: 04950090)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 14,000
Tangible assets 5 302,808 259,315
308,808 273,315

CURRENT ASSETS
Stocks 7,420 5,200
Debtors 6 116,903 109,343
Cash at bank and in hand 17,145 6,942
141,468 121,485
CREDITORS
Amounts falling due within one year 7 195,115 172,356
NET CURRENT LIABILITIES (53,647 ) (50,871 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

255,161

222,444

CREDITORS
Amounts falling due after more than one year 8 (58,814 ) (66,605 )

PROVISIONS FOR LIABILITIES (63,275 ) (39,447 )
NET ASSETS 133,072 116,392

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 132,972 116,292
SHAREHOLDERS' FUNDS 133,072 116,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Dayoak Motors Limited (Registered number: 04950090)

Balance Sheet - continued
31st December 2023


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 director and authorised for issue on 26th September 2024 and were signed by:





J W Jacobsen MBA - Director


Dayoak Motors Limited (Registered number: 04950090)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

Dayoak 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.

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, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty 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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on cost and 25% on reducing balance
Motor vehicles - 10% on reducing balance

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 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.


Dayoak Motors Limited (Registered number: 04950090)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 160,000
AMORTISATION
At 1st January 2023 146,000
Charge for year 8,000
At 31st December 2023 154,000
NET BOOK VALUE
At 31st December 2023 6,000
At 31st December 2022 14,000

Dayoak Motors Limited (Registered number: 04950090)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 375,070
Additions 128,865
Disposals (77,600 )
At 31st December 2023 426,335
DEPRECIATION
At 1st January 2023 115,755
Charge for year 35,230
Eliminated on disposal (27,458 )
At 31st December 2023 123,527
NET BOOK VALUE
At 31st December 2023 302,808
At 31st December 2022 259,315

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st January 2023 155,105
Additions 77,625
Disposals (31,175 )
Transfer to ownership (9,610 )
At 31st December 2023 191,945
DEPRECIATION
At 1st January 2023 33,315
Charge for year 15,405
Eliminated on disposal (10,003 )
Transfer to ownership (3,673 )
At 31st December 2023 35,044
NET BOOK VALUE
At 31st December 2023 156,901
At 31st December 2022 121,790

Dayoak Motors Limited (Registered number: 04950090)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 49,805 33,116
Other debtors 67,098 76,227
116,903 109,343

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 69,237 70,345
Hire purchase contracts 33,389 28,388
Trade creditors 11,487 6,074
Taxation and social security 25,441 25,552
Other creditors 55,561 41,997
195,115 172,356

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,810 24,950
Hire purchase contracts 44,004 34,155
Other creditors - 7,500
58,814 66,605

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 59,097 60,455

The company's overdraft is secured by the bank by way of a fixed and floating charge over the company's assets.

10. RELATED PARTY DISCLOSURES

Durng the year the company received management charges of £65,476 (2023 - £60,933) from Dayoak Vehicle Hire Ltd, a company under common control. At year end the company was owed £29,191 (2023 - £9,639) by the same company. All transactions were conducted at arms length.

11. ULTIMATE CONTROLLING PARTY

The controlling party is J W Jacobsen MBA.