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REGISTERED NUMBER: 06398263 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Nortree Motor Company Ltd

Nortree Motor Company Ltd (Registered number: 06398263)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Nortree Motor Company Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M N Phillips
D L Phillips
S Phillips





SECRETARY: S Phillips





REGISTERED OFFICE: County Gate
County Way
Trowbridge
Wiltshire
BA14 7FJ





REGISTERED NUMBER: 06398263 (England and Wales)

Nortree Motor Company Ltd (Registered number: 06398263)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 756,734 657,839

CURRENT ASSETS
Stocks 674,064 717,954
Debtors 5 220,819 150,722
Prepayments and accrued income 14,787 16,661
Cash at bank 13,394 54
923,064 885,391
CREDITORS
Amounts falling due within one year 6 1,010,261 961,819
NET CURRENT LIABILITIES (87,197 ) (76,428 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

669,537

581,411

CREDITORS
Amounts falling due after more than one
year

7

(321,639

)

(366,816

)

ACCRUALS AND DEFERRED INCOME (14,847 ) (21,402 )
NET ASSETS 333,051 193,193

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 332,951 193,093
SHAREHOLDERS' FUNDS 333,051 193,193

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:




M N Phillips - Director


Nortree Motor Company Ltd (Registered number: 06398263)

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

1. STATUTORY INFORMATION

Nortree Motor Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 - Nil
Improvements to property - 10% on straight line basis
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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.

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 10 (2023 - 10 ) .

Nortree Motor Company Ltd (Registered number: 06398263)

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 February 2023 623,737 17,894 49,931
Additions - 105,667 10,736
Disposals - (13,368 ) (11,624 )
At 31 January 2024 623,737 110,193 49,043
DEPRECIATION
At 1 February 2023 - 9,808 32,427
Charge for year - 4,204 5,577
Eliminated on disposal - (8,210 ) (5,690 )
At 31 January 2024 - 5,802 32,314
NET BOOK VALUE
At 31 January 2024 623,737 104,391 16,729
At 31 January 2023 623,737 8,086 17,504

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 10,724 17,645 719,931
Additions 5,775 2,030 124,208
Disposals (3,798 ) (13,570 ) (42,360 )
At 31 January 2024 12,701 6,105 801,779
DEPRECIATION
At 1 February 2023 6,716 13,141 62,092
Charge for year 1,306 834 11,921
Eliminated on disposal (3,202 ) (11,866 ) (28,968 )
At 31 January 2024 4,820 2,109 45,045
NET BOOK VALUE
At 31 January 2024 7,881 3,996 756,734
At 31 January 2023 4,008 4,504 657,839

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 85,411 25,589
Other debtors 9,362 7,181
Directors' current accounts 92,404 86,352
Tax 33,642 31,600
220,819 150,722

Nortree Motor Company Ltd (Registered number: 06398263)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,913 67,933
Other loans 625,991 591,786
Hire purchase contracts - 4,136
Trade creditors 211,789 179,244
Tax 40,871 25,808
Social security and other taxes 17,274 37,399
Other creditors 1,553 1,337
Intercompany 27,910 48,120
Deposits held 53,960 6,056
1,010,261 961,819

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 32,058 32,058
Bank loans - 2-5 years 75,864 85,864
Bank loans more 5 yr by instal 213,717 236,821
Hire purchase contracts - 12,073
321,639 366,816

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 213,717 236,821

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
M N Phillips
Balance outstanding at start of year 61,000 53,834
Amounts advanced 13,090 7,166
Amounts repaid (11,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 63,090 61,000

D L Phillips
Balance outstanding at start of year 19,541 12,587
Amounts advanced 4,153 6,954
Amounts repaid (500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,194 19,541

S Phillips
Balance outstanding at start of year 5,812 5,625
Amounts advanced 309 187
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,121 5,812