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REGISTERED NUMBER: 12476305 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 July 2024

for

Scudamore Motors Ltd

Scudamore Motors Ltd (Registered number: 12476305)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Scudamore Motors Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: V Dhiman
K K Dhiman





REGISTERED OFFICE: Unit 1
187 Scudamore Road
Leicester
LE3 1UQ





REGISTERED NUMBER: 12476305 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Scudamore Motors Ltd


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 Scudamore Motors Ltd for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet 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 Scudamore Motors Ltd, 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 Scudamore Motors Ltd and state those matters that we have agreed to state to the Board of Directors of Scudamore Motors Ltd, 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 Scudamore Motors Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Scudamore Motors Ltd 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 Scudamore Motors Ltd. You consider that Scudamore Motors Ltd 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 Scudamore Motors Ltd. 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.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


21 October 2024

Scudamore Motors Ltd (Registered number: 12476305)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,333 12,833
Tangible assets 5 252,095 251,699
259,428 264,532

CURRENT ASSETS
Stocks 3,734 3,300
Debtors 6 7,771 1,422
Cash at bank 108,816 82,037
120,321 86,759
CREDITORS
Amounts falling due within one year 7 205,599 191,056
NET CURRENT LIABILITIES (85,278 ) (104,297 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,150

160,235

CREDITORS
Amounts falling due after more than
one year

8

(117,355

)

(119,271

)

PROVISIONS FOR LIABILITIES (16,697 ) (16,598 )
NET ASSETS 40,098 24,366

CAPITAL AND RESERVES
Called up share capital 10 2 1
Retained earnings 40,096 24,365
SHAREHOLDERS' FUNDS 40,098 24,366

Scudamore Motors Ltd (Registered number: 12476305)

Balance Sheet - continued
31 July 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 21 October 2024 and were signed on its behalf by:





V Dhiman - Director


Scudamore Motors Ltd (Registered number: 12476305)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

Scudamore Motors 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.

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 2020, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on buildings only
Plant and machinery - 20% reducing balance
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


Scudamore Motors Ltd (Registered number: 12476305)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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 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.

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 3 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 27,500
AMORTISATION
At 1 August 2023 14,667
Charge for year 5,500
At 31 July 2024 20,167
NET BOOK VALUE
At 31 July 2024 7,333
At 31 July 2023 12,833

Scudamore Motors Ltd (Registered number: 12476305)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 246,826 17,142 263,968
Additions - 4,895 4,895
At 31 July 2024 246,826 22,037 268,863
DEPRECIATION
At 1 August 2023 4,800 7,469 12,269
Charge for year 1,800 2,699 4,499
At 31 July 2024 6,600 10,168 16,768
NET BOOK VALUE
At 31 July 2024 240,226 11,869 252,095
At 31 July 2023 242,026 9,673 251,699

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 1,298 165
Other debtors 6,473 1,257
7,771 1,422

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 3,084 3,751
Trade creditors 16,226 6,012
Taxation and social security 23,712 17,866
Other creditors 162,577 163,427
205,599 191,056

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans 117,355 119,271

Scudamore Motors Ltd (Registered number: 12476305)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.7.24 31.7.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 100,207 98,827

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 120,439 123,022

The secured debt is in relation to a charge over a property held by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £0.01 1 1
100 Ordinary A £0.01 1 -
2 1

100 Ordinary A shares of £0.01 each were allotted and fully paid for cash at par during the year.