Kevin Martin (Specialist Vehicles) Limited 01899535 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Sale of used cars and light motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true true true 01899535 2023-09-01 2024-08-31 01899535 2024-08-31 01899535 bus:OrdinaryShareClass1 2024-08-31 01899535 core:RetainedEarningsAccumulatedLosses 2024-08-31 01899535 core:ShareCapital 2024-08-31 01899535 core:CurrentFinancialInstruments 2024-08-31 01899535 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 01899535 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 01899535 core:FurnitureFittingsToolsEquipment 2024-08-31 01899535 core:LandBuildings 2024-08-31 01899535 bus:SmallEntities 2023-09-01 2024-08-31 01899535 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 01899535 bus:FilletedAccounts 2023-09-01 2024-08-31 01899535 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 01899535 bus:RegisteredOffice 2023-09-01 2024-08-31 01899535 bus:CompanySecretaryDirector1 2023-09-01 2024-08-31 01899535 bus:Director1 2023-09-01 2024-08-31 01899535 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 01899535 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 01899535 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 01899535 core:LandBuildings 2023-09-01 2024-08-31 01899535 core:PlantMachinery 2023-09-01 2024-08-31 01899535 1 2023-09-01 2024-08-31 01899535 countries:EnglandWales 2023-09-01 2024-08-31 01899535 2023-08-31 01899535 core:FurnitureFittingsToolsEquipment 2023-08-31 01899535 core:LandBuildings 2023-08-31 01899535 2022-09-01 2023-08-31 01899535 2023-08-31 01899535 bus:OrdinaryShareClass1 2023-08-31 01899535 core:RetainedEarningsAccumulatedLosses 2023-08-31 01899535 core:ShareCapital 2023-08-31 01899535 core:CurrentFinancialInstruments 2023-08-31 01899535 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 01899535 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 01899535 core:FurnitureFittingsToolsEquipment 2023-08-31 01899535 core:LandBuildings 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01899535

Kevin Martin (Specialist Vehicles) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Kevin Martin (Specialist Vehicles) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Kevin Martin (Specialist Vehicles) Limited

Company Information

Directors

Mr K Martin

Mrs C Martin

Company secretary

Mrs C Martin

Registered office

Grange Lane North
Scunthorpe
North Lincolnshire
DN16 1BN

 

Kevin Martin (Specialist Vehicles) Limited

(Registration number: 01899535)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

44,269

48,273

Current assets

 

Stocks

70,751

204,001

Debtors

5

73,446

90,442

Cash at bank and in hand

 

928

3,029

 

145,125

297,472

Creditors: Amounts falling due within one year

6

(168,876)

(220,182)

Net current (liabilities)/assets

 

(23,751)

77,290

Total assets less current liabilities

 

20,518

125,563

Creditors: Amounts falling due after more than one year

6

(6,000)

(14,000)

Net assets

 

14,518

111,563

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

14,418

111,463

Shareholders' funds

 

14,518

111,563

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 October 2024 and signed on its behalf by:
 

.........................................
Mr K Martin
Director

 

Kevin Martin (Specialist Vehicles) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Grange Lane North
Scunthorpe
North Lincolnshire
DN16 1BN

These financial statements were authorised for issue by the Board on 9 October 2024.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

The financial statements cover the individual entity, Kevin Martin (Special Vehicles) Limited.

Related party exemption

The company has taken advantage of exemption, under the terms of 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..

Group accounts not prepared

The company has taken advantage of exmeption, under the terms of 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 not to disclose group accounts..

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Kevin Martin (Specialist Vehicles) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

2% on cost

Plant and Machinery

10% on cost

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell.

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

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 7 (2023 - 8).

4

Tangible assets

Freehold Property
£

Plant and Machinery
 £

Total
£

Cost or valuation

At 1 September 2023

166,883

84,638

251,521

At 31 August 2024

166,883

84,638

251,521

Depreciation

At 1 September 2023

122,344

80,904

203,248

Charge for the year

3,338

666

4,004

At 31 August 2024

125,682

81,570

207,252

Carrying amount

At 31 August 2024

41,201

3,068

44,269

At 31 August 2023

44,539

3,734

48,273

5

Debtors

Current

2024
£

2023
£

Trade debtors

12,102

19,843

Other debtors

61,344

70,599

 

73,446

90,442

 

Kevin Martin (Specialist Vehicles) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

61,296

94,962

Trade creditors

 

28,951

32,355

Amounts owed to group undertakings

17,828

26,071

Taxation and social security

 

1,997

2,144

Other creditors

 

58,804

64,650

 

168,876

220,182

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Bank loans and overdrafts

6,000

14,000



Creditors include an overdraft facility which is secured against the vehicle stock and land buildings owned by the company totalled £53,296 (2023 - £86,962).

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

8

Parent and ultimate parent undertaking

The company has taken advantage of exemption, under the terms of FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with its parent company Hamilton Press Holdings Limited.

 The Company's immediate parent is Kevin Martin Holdings Limited, incorporated in United Kingdom.