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REGISTERED NUMBER: 05848380 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

WEYLINE CARS LIMITED

WEYLINE CARS LIMITED (Registered number: 05848380)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WEYLINE CARS LIMITED

Company Information
for the Year Ended 31 October 2023







DIRECTORS: I Ferguson
K Keen
G C Walker





SECRETARY: I Ferguson





REGISTERED OFFICE: 4 Queen Street
Weymouth
Dorset
DT4 7HZ





REGISTERED NUMBER: 05848380 (England and Wales)





ACCOUNTANTS: Creasey Alexander & Co
Chartered Accountants
Parkgate House
33a Pratt Street
London
NW1 0BG

WEYLINE CARS LIMITED (Registered number: 05848380)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 86,135 81,601
Tangible assets 5 1,015,094 872,892
Investments 6 50,500 50,500
1,151,729 1,004,993

CURRENT ASSETS
Debtors 7 470,384 462,760
Cash at bank and in hand 2,769 2,579
473,153 465,339
CREDITORS
Amounts falling due within one year 8 980,228 690,999
NET CURRENT LIABILITIES (507,075 ) (225,660 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

644,654

779,333

CREDITORS
Amounts falling due after more than one
year

9

884,060

799,487
NET LIABILITIES (239,406 ) (20,154 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (239,506 ) (20,254 )
SHAREHOLDERS' FUNDS (239,406 ) (20,154 )

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

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

WEYLINE CARS LIMITED (Registered number: 05848380)

Balance Sheet - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





I Ferguson - Director


WEYLINE CARS LIMITED (Registered number: 05848380)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

WEYLINE CARS 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.

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 amounts paid in connection with the acquisition of businesses, is amortised over its estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - not provided
Plant and machinery etc - 33% on cost, 25% on cost, 10% on cost and not provided

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

WEYLINE CARS LIMITED (Registered number: 05848380)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 22 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022 285,750
Additions 12,000
At 31 October 2023 297,750
AMORTISATION
At 1 November 2022 204,149
Charge for year 7,466
At 31 October 2023 211,615
NET BOOK VALUE
At 31 October 2023 86,135
At 31 October 2022 81,601

WEYLINE CARS LIMITED (Registered number: 05848380)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 546,110 1,251,749 1,797,859
Additions - 379,552 379,552
At 31 October 2023 546,110 1,631,301 2,177,411
DEPRECIATION
At 1 November 2022 - 924,967 924,967
Charge for year - 237,350 237,350
At 31 October 2023 - 1,162,317 1,162,317
NET BOOK VALUE
At 31 October 2023 546,110 468,984 1,015,094
At 31 October 2022 546,110 326,782 872,892

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2022 504,116
Additions 379,552
Transfer to ownership (73,475 )
At 31 October 2023 810,193
DEPRECIATION
At 1 November 2022 221,016
Charge for year 202,549
Transfer to ownership (50,234 )
At 31 October 2023 373,331
NET BOOK VALUE
At 31 October 2023 436,862
At 31 October 2022 283,100

WEYLINE CARS LIMITED (Registered number: 05848380)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 50,500
NET BOOK VALUE
At 31 October 2023 50,500
At 31 October 2022 50,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 453,641 328,634
Amounts owed by associates - 124,050
Other debtors 16,743 10,076
470,384 462,760

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 37,688 35,412
Hire purchase contracts 205,285 119,036
Trade creditors 33,315 10,712
Amounts owed to group undertakings 486,653 421,176
Amounts owed to associates 187,050 -
Taxation and social security 12,922 63,673
Other creditors 17,315 40,990
980,228 690,999

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 495,505 505,003
Hire purchase contracts 332,486 228,415
Other creditors 56,069 66,069
884,060 799,487

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 423,374 394,939

WEYLINE CARS LIMITED (Registered number: 05848380)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank overdrafts 17,836 9,190
Bank loans 515,357 531,225
533,193 540,415

Allica Bank holds first legal charges over the company's freehold property in relation to a loan provided during the year.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is TCT Universal Holdings Limited.