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REGISTERED NUMBER: 09991322 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

S J Rayner (Cars) Ltd

S J Rayner (Cars) Ltd (Registered number: 09991322)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S J Rayner (Cars) Ltd

Company Information
for the year ended 31 January 2024







DIRECTOR: S J Rayner





REGISTERED OFFICE: Meryll House
57 Worcester Road
Bromsgrove
Worcestershire
B61 7DN





REGISTERED NUMBER: 09991322 (England and Wales)





ACCOUNTANTS: Pinfields Limited
Chartered Accountants
Meryll House
57 Worcester Road
Bromsgrove
Worcestershire
B61 7DN

S J Rayner (Cars) Ltd (Registered number: 09991322)

Statement of Financial Position
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 69,874 104,811
Tangible assets 5 356,880 359,422
426,754 464,233

CURRENT ASSETS
Stocks 6 1,025,718 1,228,963
Debtors 7 10,179 8,193
Cash at bank and in hand 427,884 140,293
1,463,781 1,377,449
CREDITORS
Amounts falling due within one year 8 1,090,837 1,012,351
NET CURRENT ASSETS 372,944 365,098
TOTAL ASSETS LESS CURRENT
LIABILITIES

799,698

829,331

PROVISIONS FOR LIABILITIES 9 21,608 20,542
NET ASSETS 778,090 808,789

CAPITAL AND RESERVES
Called up share capital 1 1
Share premium 349,369 349,369
Retained earnings 428,720 459,419
778,090 808,789

S J Rayner (Cars) Ltd (Registered number: 09991322)

Statement of Financial Position - continued
31 January 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2024 and were signed by:





S J Rayner - Director


S J Rayner (Cars) Ltd (Registered number: 09991322)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

S J Rayner (Cars) Ltd 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.

Sale of goods - Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Leasehold premises improvements will be depreciated at 2.5% per annum from the date of first use of the new premises.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


S J Rayner (Cars) Ltd (Registered number: 09991322)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

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.

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 9 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 349,369
AMORTISATION
At 1 February 2023 244,558
Charge for year 34,937
At 31 January 2024 279,495
NET BOOK VALUE
At 31 January 2024 69,874
At 31 January 2023 104,811

S J Rayner (Cars) Ltd (Registered number: 09991322)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 322,653 29,045 112,978 3,901 468,577
Additions - 3,292 21,973 - 25,265
At 31 January 2024 322,653 32,337 134,951 3,901 493,842
DEPRECIATION
At 1 February 2023 16,133 25,168 64,773 3,081 109,155
Charge for year 8,066 1,792 17,545 404 27,807
At 31 January 2024 24,199 26,960 82,318 3,485 136,962
NET BOOK VALUE
At 31 January 2024 298,454 5,377 52,633 416 356,880
At 31 January 2023 306,520 3,877 48,205 820 359,422

6. STOCKS
31.1.24 31.1.23
£    £   
Stocks 1,025,718 1,228,963

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 3,490 1,042
Other debtors - 500
Prepayments 6,689 6,651
10,179 8,193

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 156,820 104,449
Taxation and social security 27,052 34,930
Other creditors 906,965 872,972
1,090,837 1,012,351

S J Rayner (Cars) Ltd (Registered number: 09991322)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

9. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 21,608 20,542

Deferred
tax
£   
Balance at 1 February 2023 20,542
Capital allowances 1,066
Balance at 31 January 2024 21,608