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Registered number: 08163799
Bryan's Motors Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
3NT Ltd
38 Arden Road
Desborough
Kettering
Northants
NN14 2WJ
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Bryan's Motors Ltd for the year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Bryan's Motors Ltd for the year ended 31 August 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to the directors of Bryan's Motors Ltd , as a body, in accordance with the terms of our engagement letter dated 01 November 2013. Our work has been undertaken solely to prepare for your approval the accounts of Bryan's Motors Ltd and state those matters that we have agreed to state to the directors of Bryan's Motors Ltd , as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bryan's Motors Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Bryan's Motors Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Bryan's Motors Ltd . You consider that Bryan's Motors Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Bryan's 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 financial statements.
Signed
Laurence Denton
28/10/2024
3NT Ltd
38 Arden Road
Desborough
Kettering
Northants
NN14 2WJ
Page 1
Page 2
Balance Sheet
Registered number: 08163799
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,380 6,187
5,380 6,187
CURRENT ASSETS
Stocks 5 2,498 2,165
Debtors 6 - 833
Cash at bank and in hand 34,000 42,505
36,498 45,503
Creditors: Amounts Falling Due Within One Year 7 (27,951 ) (35,412 )
NET CURRENT ASSETS (LIABILITIES) 8,547 10,091
TOTAL ASSETS LESS CURRENT LIABILITIES 13,927 16,278
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (1,022 ) (1,176 )
NET ASSETS 12,905 15,102
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 12,805 15,002
SHAREHOLDERS' FUNDS 12,905 15,102
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Page 3
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr B M Gibson
Director
Mrs N G Gibson
Director
28/10/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Bryan's Motors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08163799 . The registered office is 12 Roman Way, Irchester, Wellingborough, Northants, NN29 7EG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 25,616 1,500 869 27,985
Additions 225 - 957 1,182
Disposals (1,322 ) - (207 ) (1,529 )
As at 31 August 2024 24,519 1,500 1,619 27,638
Depreciation
As at 1 September 2023 20,506 656 636 21,798
Provided during the period 1,313 211 330 1,854
Disposals (1,239 ) - (155 ) (1,394 )
As at 31 August 2024 20,580 867 811 22,258
...CONTINUED
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Net Book Value
As at 31 August 2024 3,939 633 808 5,380
As at 1 September 2023 5,110 844 233 6,187
5. Stocks
2024 2023
£ £
Stock 2,498 2,165
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 833
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,826 10,855
Corporation tax 10,532 13,112
VAT 4,677 5,897
Other creditors 43 43
Accruals and deferred income 3,949 4,398
Directors' loan accounts 924 1,107
27,951 35,412
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 1,022 1,176
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr B M Gibson 33,750 38,178
Mrs N G Gibson 11,250 12,726
Page 5
Page 6
11. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 45,000 50,904
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr Byran Gibson by virtue of his control of 100% of the issued share capital in the company.
Page 6