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REGISTERED NUMBER: 00848630 (England and Wales)










M. Segal (Motor Trimmings) Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024






M. Segal (Motor Trimmings) Limited (Registered number: 00848630)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M. Segal (Motor Trimmings) Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Ms A Parker





SECRETARY: Ms M Henry





REGISTERED OFFICE: Trimcar House
Blackfriars Road
Manchester
M3 7AQ





REGISTERED NUMBER: 00848630 (England and Wales)






M. Segal (Motor Trimmings) Limited (Registered number: 00848630)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 10,499 11,661

CURRENT ASSETS
Stocks 4,300 176,062
Debtors 6 48,908 41,316
Cash at bank 140,766 96,284
193,974 313,662
CREDITORS
Amounts falling due within one year 7 (23,882 ) (25,830 )
NET CURRENT ASSETS 170,092 287,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

180,591

299,493

PROVISIONS FOR LIABILITIES (260 ) (347 )
NET ASSETS 180,331 299,146

CAPITAL AND RESERVES
Called up share capital 8 501 501
Retained earnings 179,830 298,645
SHAREHOLDERS' FUNDS 180,331 299,146

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

M. Segal (Motor Trimmings) Limited (Registered number: 00848630)

Balance Sheet - continued
31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2024 and were signed by:





Ms A Parker - Director


M. Segal (Motor Trimmings) Limited (Registered number: 00848630)

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

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Trimcar House
Blackfriars Road
Manchester
M3 7AQ

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102
Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared using the historical cost convention except that as
disclosed in the accounting policies certain items are shown at fair value.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

TAX
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

M. Segal (Motor Trimmings) Limited (Registered number: 00848630)

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

3. ACCOUNTING POLICIES - continued

TANGIBLE ASSETS
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

DEPRECIATION
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

ASSET CLASS Depreciation method and rate
Freehold Property 2% straight line
Fixtures & Fittings 25% reducing balance
Motor Vehicles 25% reducing balance

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

M. Segal (Motor Trimmings) Limited (Registered number: 00848630)

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

3. ACCOUNTING POLICIES - continued

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 35,187 102,989 3,100 141,276
DEPRECIATION
At 1 June 2023 25,355 101,234 3,026 129,615
Charge for year 704 439 19 1,162
At 31 May 2024 26,059 101,673 3,045 130,777
NET BOOK VALUE
At 31 May 2024 9,128 1,316 55 10,499
At 31 May 2023 9,832 1,755 74 11,661

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,905 32,150
Other debtors 20,003 9,166
48,908 41,316

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,703 8,052
Taxation and social security 14,246 11,646
Other creditors 5,933 6,132
23,882 25,830

M. Segal (Motor Trimmings) Limited (Registered number: 00848630)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
501 Ordinary share 1 501 501

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Ms A Parker
Balance outstanding at start of year (176 ) (216 )
Amounts advanced 15,357 15,311
Amounts repaid (3,804 ) (15,271 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,377 (176 )