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REGISTERED NUMBER: 10564499 (England and Wales)













TIM HAYWARD CAR SALES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024






TIM HAYWARD CAR SALES LIMITED (REGISTERED NUMBER: 10564499)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TIM HAYWARD CAR SALES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTOR: Mr T J Hayward





REGISTERED OFFICE: 5 Atlantic Business Park
Hayes Lane
Sully
Barry
CF64 5AB





REGISTERED NUMBER: 10564499 (England and Wales)





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

TIM HAYWARD CAR SALES LIMITED (REGISTERED NUMBER: 10564499)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000 4,000
Tangible assets 5 3,092 4,265
6,092 8,265

CURRENT ASSETS
Stocks 511,255 566,558
Debtors 6 (4,536 ) 4,400
Cash at bank and in hand 50,973 27,797
557,692 598,755
CREDITORS
Amounts falling due within one year 7 313,333 351,962
NET CURRENT ASSETS 244,359 246,793
TOTAL ASSETS LESS CURRENT LIABILITIES 250,451 255,058

CREDITORS
Amounts falling due after more than one year 8 13,333 23,333
NET ASSETS 237,118 231,725

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 237,018 231,625
SHAREHOLDERS' FUNDS 237,118 231,725

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 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.

TIM HAYWARD CAR SALES LIMITED (REGISTERED NUMBER: 10564499)

BALANCE SHEET - continued
31ST JANUARY 2024


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 31st October 2024 and were signed by:





Mr T J Hayward - Director


TIM HAYWARD CAR SALES LIMITED (REGISTERED NUMBER: 10564499)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

Tim Hayward Car Sales 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 the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 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 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 3 (2023 - 5 ) .

TIM HAYWARD CAR SALES LIMITED (REGISTERED NUMBER: 10564499)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st February 2023
and 31st January 2024 10,000
AMORTISATION
At 1st February 2023 6,000
Amortisation for year 1,000
At 31st January 2024 7,000
NET BOOK VALUE
At 31st January 2024 3,000
At 31st January 2023 4,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st February 2023 11,617 9,321 20,938
Additions 1,829 - 1,829
At 31st January 2024 13,446 9,321 22,767
DEPRECIATION
At 1st February 2023 7,626 9,047 16,673
Charge for year 2,865 137 3,002
At 31st January 2024 10,491 9,184 19,675
NET BOOK VALUE
At 31st January 2024 2,955 137 3,092
At 31st January 2023 3,991 274 4,265

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors (4,536 ) 4,400

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 220,506 207,949
Taxation and social security 26,713 50,506
Other creditors 56,114 83,507
313,333 351,962

TIM HAYWARD CAR SALES LIMITED (REGISTERED NUMBER: 10564499)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,333 23,333