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REGISTERED NUMBER: 01012676 (England and Wales)















Financial Statements for the Year Ended 29 June 2024

for

Ray Winfield Car Sales Limited

Ray Winfield Car Sales Limited (Registered number: 01012676)






Contents of the Financial Statements
for the Year Ended 29 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Ray Winfield Car Sales Limited

Company Information
for the Year Ended 29 June 2024







DIRECTORS: Mrs P Winfield
R J Winfield





REGISTERED OFFICE: 100 High Ash Drive
Alwoodley
Leeds
West Yorkshire
LS17 8RE





REGISTERED NUMBER: 01012676 (England and Wales)





ACCOUNTANTS: Leon & Company
Chartered Accountants
100 High Ash Drive
Alwoodley
Leeds
West Yorkshire
LS17 8RE

Ray Winfield Car Sales Limited (Registered number: 01012676)

Balance Sheet
29 June 2024

29.6.24 29.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,179 4,643
Investment property 5 690,000 675,000
694,179 679,643

CURRENT ASSETS
Stocks 41,631 4,750
Debtors 6 23,304 3,914
Cash at bank and in hand 102,367 134,865
167,302 143,529
CREDITORS
Amounts falling due within one year 7 12,577 15,453
NET CURRENT ASSETS 154,725 128,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

848,904

807,719

PROVISIONS FOR LIABILITIES 8 26,711 23,060
NET ASSETS 822,193 784,659

CAPITAL AND RESERVES
Called up share capital 9 10 10
Non-distributable reserve 10 354,584 343,334
Retained earnings 467,599 441,315
SHAREHOLDERS' FUNDS 822,193 784,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 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.

Ray Winfield Car Sales Limited (Registered number: 01012676)

Balance Sheet - continued
29 June 2024


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 11 October 2024 and were signed on its behalf by:





R J Winfield - Director


Ray Winfield Car Sales Limited (Registered number: 01012676)

Notes to the Financial Statements
for the Year Ended 29 June 2024

1. STATUTORY INFORMATION

Ray Winfield Car Sales 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 as modified by the revaluation of certain assets.

Turnover
Turnover 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.
Fixtures and fittings - 10% 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
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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Ray Winfield Car Sales Limited (Registered number: 01012676)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 June 2023
and 29 June 2024 52,300
DEPRECIATION
At 30 June 2023 47,657
Charge for year 464
At 29 June 2024 48,121
NET BOOK VALUE
At 29 June 2024 4,179
At 29 June 2023 4,643

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 June 2023 675,000
Revaluations 15,000
At 29 June 2024 690,000
NET BOOK VALUE
At 29 June 2024 690,000
At 29 June 2023 675,000

Fair value at 29 June 2024 is represented by:
£   
Valuation in 2017 226,035
Valuation in 2023 139,289
Valuation in 2024 15,000
Cost 309,676
690,000

If investment property had not been revalued it would have been included at the following historical cost:

29.6.24 29.6.23
£    £   
Cost 309,676 309,676

Investment property was valued on an open market basis on 30 June 2024 by the directors .

Ray Winfield Car Sales Limited (Registered number: 01012676)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.6.24 29.6.23
£    £   
Trade debtors 733 1,592
Other debtors 22,571 2,322
23,304 3,914

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.6.24 29.6.23
£    £   
Trade creditors 552 -
Taxation and social security 7,712 8,627
Other creditors 4,313 6,826
12,577 15,453

8. PROVISIONS FOR LIABILITIES
29.6.24 29.6.23
£    £   
Deferred tax 26,711 23,060

Deferred
tax
£   
Balance at 30 June 2023 23,060
Movement in year 3,651
Balance at 29 June 2024 26,711

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.6.24 29.6.23
value: £    £   
10 Ordinary £1 10 10

10. RESERVES
Non-distributable
reserve
£   
At 30 June 2023 343,334
Revaluation in year 11,250

At 29 June 2024 354,584

The transfer between reserves represents the reclassification of investment property valuation gains and losses (net of associated deferred tax) into an other reserve, on the basis that the net valuation gains are not available for distribution to shareholders.

Revaluations £380,324 less deferred tax £25,740, non-distributable reserve £354,584.

Ray Winfield Car Sales Limited (Registered number: 01012676)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is an amount of £19,907 due from the directors (2023 £19 due to the directors). This loan is interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The controlling party is R J Winfield.

The ultimate controlling party is R J Winfield.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ray Winfield Car Sales Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ray Winfield Car Sales Limited for the year ended 29 June 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ray Winfield Car Sales Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ray Winfield Car Sales Limited and state those matters that we have agreed to state to the Board of Directors of Ray Winfield Car Sales Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ray Winfield Car Sales Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ray Winfield Car Sales Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ray Winfield Car Sales Limited. You consider that Ray Winfield Car Sales Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ray Winfield Car Sales Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Leon & Company
Chartered Accountants
100 High Ash Drive
Alwoodley
Leeds
West Yorkshire
LS17 8RE


Date: .............................................