IRIS Accounts Production v24.3.0.553 08122152 director 1.11.22 31.10.23 31.10.23 false true false false true false Ordinary shares 1.00000 Class A Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh081221522022-10-31081221522023-10-31081221522022-11-012023-10-31081221522021-10-31081221522021-11-012022-10-31081221522022-10-3108122152ns15:EnglandWales2022-11-012023-10-3108122152ns14:PoundSterling2022-11-012023-10-3108122152ns10:Director12022-11-012023-10-3108122152ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3108122152ns10:SmallEntities2022-11-012023-10-3108122152ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3108122152ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3108122152ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3108122152ns10:FullAccounts2022-11-012023-10-3108122152ns10:OrdinaryShareClass12022-11-012023-10-3108122152ns10:OrdinaryShareClass22022-11-012023-10-3108122152ns10:RegisteredOffice2022-11-012023-10-3108122152ns5:CurrentFinancialInstruments2023-10-3108122152ns5:CurrentFinancialInstruments2022-10-3108122152ns5:Non-currentFinancialInstruments2023-10-3108122152ns5:Non-currentFinancialInstruments2022-10-3108122152ns5:ShareCapital2023-10-3108122152ns5:ShareCapital2022-10-3108122152ns5:RetainedEarningsAccumulatedLosses2023-10-3108122152ns5:RetainedEarningsAccumulatedLosses2022-10-3108122152ns5:PlantMachinery2022-11-012023-10-3108122152ns5:ComputerEquipment2022-11-012023-10-3108122152ns5:LandBuildings2022-10-3108122152ns5:PlantMachinery2022-10-3108122152ns5:LandBuildings2022-11-012023-10-3108122152ns5:LandBuildings2023-10-3108122152ns5:PlantMachinery2023-10-3108122152ns5:LandBuildings2022-10-3108122152ns5:PlantMachinery2022-10-3108122152ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3108122152ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3108122152ns5:Secured2023-10-3108122152ns5:Secured2022-10-3108122152ns10:OrdinaryShareClass12023-10-3108122152ns10:OrdinaryShareClass22023-10-31081221521ns10:Director12022-10-31081221521ns10:Director12021-10-31081221521ns10:Director12022-11-012023-10-31081221521ns10:Director12021-11-012022-10-31081221521ns10:Director12023-10-31081221521ns10:Director12022-10-31
REGISTERED NUMBER: 08122152 (England and Wales)















S & R MOTORS (STRATTON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST OCTOBER 2023






S & R MOTORS (STRATTON) LIMITED (REGISTERED NUMBER: 08122152)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


S & R MOTORS (STRATTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTOR: Mr R S Nenshi



REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



REGISTERED NUMBER: 08122152 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Lloyds Bank Plc
5 High Street
Old Town
SWINDON
Wiltshire
SN1 3ED

S & R MOTORS (STRATTON) LIMITED (REGISTERED NUMBER: 08122152)

STATEMENT OF FINANCIAL POSITION
31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,988 32,535

CURRENT ASSETS
Stocks 4,433,085 2,987,598
Debtors 5 565,228 562,664
Cash at bank and in hand 7,431 56,306
5,005,744 3,606,568
CREDITORS
Amounts falling due within one year 6 4,615,195 3,215,619
NET CURRENT ASSETS 390,549 390,949
TOTAL ASSETS LESS CURRENT
LIABILITIES

422,537

423,484

CREDITORS
Amounts falling due after more than
one year

7

(15,833

)

(25,833

)

PROVISIONS FOR LIABILITIES (7,210 ) (5,348 )
NET ASSETS 399,494 392,303

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 399,394 392,203
SHAREHOLDERS' FUNDS 399,494 392,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2023 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.

S & R MOTORS (STRATTON) LIMITED (REGISTERED NUMBER: 08122152)

STATEMENT OF FINANCIAL POSITION - continued
31ST OCTOBER 2023


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 24th October 2024 and were signed by:





Mr R S Nenshi - Director


S & R MOTORS (STRATTON) LIMITED (REGISTERED NUMBER: 08122152)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023


1. STATUTORY INFORMATION

S & R Motors (Stratton) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08122152

Registered office: 43-45 Devizes Road, Swindon, Wiltshire, SN1 4BG

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax and other sales taxes

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost including re-work costs, and net realisable value.

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


S & R MOTORS (STRATTON) LIMITED (REGISTERED NUMBER: 08122152)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


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.

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.

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 13 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st November 2022 9,132 72,462 81,594
Additions - 7,350 7,350
At 31st October 2023 9,132 79,812 88,944
DEPRECIATION
At 1st November 2022 1,986 47,073 49,059
Charge for year 715 7,182 7,897
At 31st October 2023 2,701 54,255 56,956
NET BOOK VALUE
At 31st October 2023 6,431 25,557 31,988
At 31st October 2022 7,146 25,389 32,535

S & R MOTORS (STRATTON) LIMITED (REGISTERED NUMBER: 08122152)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 54,357 42,568
Other debtors 510,871 520,096
565,228 562,664

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 106,719 90,408
Trade creditors 983,579 563,569
Taxation and social security 307,519 387,695
Other creditors 3,217,378 2,173,947
4,615,195 3,215,619

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,833 25,833

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other creditors 2,836,709 2,034,978
Bank overdrafts 96,719 80,408
2,933,428 2,115,386

The bank overdraft and other creditor are secured upon debentures comprising of fixed and floating charges over all of the assets and undertaking of S & R Motors (Stratton) Limited including all present and future freehold and leasehold property, book and other debts, chattels, goodwill and uncalled capital, both present and future.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary shares 1 50 50
50 Class A Ordinary shares 1 50 50
100 100

10. OTHER FINANCIAL COMMITMENTS

The company had operating lease commitments at the year end of £65,000 in relation to the lease of a property.

S & R MOTORS (STRATTON) LIMITED (REGISTERED NUMBER: 08122152)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2023 and 31st October 2022:

2023 2022
£    £   
Mr R S Nenshi
Balance outstanding at start of year 46,670 -
Amounts advanced 279,205 478,234
Amounts repaid (325,875 ) (431,564 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 46,670

Interest of 2.% has been charged on this loan. The loan was repaid in March 2023.

12. REPAIRS TO PROPERTY

During the previous year a significant repair was made by resurfacing the tarmac for the forecourt area and this cost in the region of £75,000.