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REGISTERED NUMBER: 04412683 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PEVENSEY BAY CAR CENTRE LIMITED

PEVENSEY BAY CAR CENTRE LIMITED (REGISTERED NUMBER: 04412683)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PEVENSEY BAY CAR CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs N S Over
Mr E H Over





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 04412683 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

PEVENSEY BAY CAR CENTRE LIMITED (REGISTERED NUMBER: 04412683)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,272 3,029
Investment property 5 400,000 400,000
402,272 403,029

CURRENT ASSETS
Inventories 6 488,241 487,061
Debtors 7 105,890 145,576
Cash at bank and in hand 259,886 228,016
854,017 860,653
CREDITORS
Amounts falling due within one year 8 203,568 243,119
NET CURRENT ASSETS 650,449 617,534
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,052,721

1,020,563

CREDITORS
Amounts falling due after more than one year 9 (247,666 ) (257,615 )

PROVISIONS FOR LIABILITIES (7,678 ) (7,685 )
NET ASSETS 797,377 755,263

CAPITAL AND RESERVES
Called up share capital 10 222 111
Fair value Reserve 60,553 60,553
Retained earnings 736,602 694,599
SHAREHOLDERS' FUNDS 797,377 755,263

PEVENSEY BAY CAR CENTRE LIMITED (REGISTERED NUMBER: 04412683)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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.

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 10 October 2024 and were signed on its behalf by:





Mrs N S Over - Director


PEVENSEY BAY CAR CENTRE LIMITED (REGISTERED NUMBER: 04412683)

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


1. STATUTORY INFORMATION

Pevensey Bay Car Centre 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 as modified by the revaluation of certain assets.

TURNOVER
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on reducing balance

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

STOCKS
Inventories 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 statement of financial position date.


PEVENSEY BAY CAR CENTRE LIMITED (REGISTERED NUMBER: 04412683)

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


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to and
property fittings Totals
£    £    £   
Cost
At 1 April 2023
and 31 March 2024 38,800 61,674 100,474
Depreciation
At 1 April 2023 38,800 58,645 97,445
Charge for year - 757 757
At 31 March 2024 38,800 59,402 98,202
Net book value
At 31 March 2024 - 2,272 2,272
At 31 March 2023 - 3,029 3,029

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2023
and 31 March 2024 400,000
Net book value
At 31 March 2024 400,000
At 31 March 2023 400,000

PEVENSEY BAY CAR CENTRE LIMITED (REGISTERED NUMBER: 04412683)

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


5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 67,663
Cost 332,337
400,000

6. INVENTORIES
31.3.24 31.3.23
£    £   
Stocks 488,241 487,061

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 25,887 65,193
Other debtors 80,003 80,383
105,890 145,576

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 32,199 51,067
Trade creditors 15,877 14,702
Taxation and social security 47,312 46,060
Other creditors 108,180 131,290
203,568 243,119

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 247,666 257,615

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 247,666 257,615

PEVENSEY BAY CAR CENTRE LIMITED (REGISTERED NUMBER: 04412683)

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


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100
22 Ordinary A £1 22 11
50 Ordinary B £1 50 -
50 Ordinary C £1 50 -
222 111

The following shares were issued during the year for cash at par :

11 Ordinary A shares of £1
50 Ordinary B shares of £1
50 Ordinary C shares of £1