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REGISTERED NUMBER: 06240155 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

CONCEPT FINANCE LIMITED

CONCEPT FINANCE LIMITED (Registered number: 06240155)






Contents of the Financial Statements
for the Year Ended 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CONCEPT FINANCE LIMITED

Company Information
for the Year Ended 30 APRIL 2024







DIRECTORS: D G Newmarch
Mrs M Newmarch





REGISTERED OFFICE: New Road
Wennington
Essex
RM13 8RH





REGISTERED NUMBER: 06240155 (England and Wales)





ACCOUNTANTS: The Greene Partnership LLP
Chartered Accountants
Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW

CONCEPT FINANCE LIMITED (Registered number: 06240155)

Balance Sheet
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,784 798

CURRENT ASSETS
Stocks 5 1,885,248 2,092,679
Debtors 6 100,569 218,106
Cash at bank and in hand 839,605 618,339
2,825,422 2,929,124
CREDITORS
Amounts falling due within one year 7 306,472 437,440
NET CURRENT ASSETS 2,518,950 2,491,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,520,734

2,492,482

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 2,520,634 2,492,382
SHAREHOLDERS' FUNDS 2,520,734 2,492,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:



Mrs M Newmarch - Director


CONCEPT FINANCE LIMITED (Registered number: 06240155)

Notes to the Financial Statements
for the Year Ended 30 APRIL 2024

1. STATUTORY INFORMATION

CONCEPT FINANCE 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the lease term
Fixtures and fittings - 25% 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.

CONCEPT FINANCE LIMITED (Registered number: 06240155)

Notes to the Financial Statements - continued
for the Year Ended 30 APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 21,422 32,316 - 53,738
Additions - - 1,582 1,582
At 30 April 2024 21,422 32,316 1,582 55,320
DEPRECIATION
At 1 May 2023 21,422 31,518 - 52,940
Charge for year - 200 396 596
At 30 April 2024 21,422 31,718 396 53,536
NET BOOK VALUE
At 30 April 2024 - 598 1,186 1,784
At 30 April 2023 - 798 - 798

5. STOCKS
30.4.24 30.4.23
£    £   
Stocks 1,885,248 2,092,679

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 4,166 121,680
Other debtors 78,556 78,556
VAT - 1,203
Prepayments 17,847 16,667
100,569 218,106

CONCEPT FINANCE LIMITED (Registered number: 06240155)

Notes to the Financial Statements - continued
for the Year Ended 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts (see note 8) - 52,083
Trade creditors 184,864 295,872
Tax 25,280 38,121
Social security and other taxes 6,833 18,221
VAT 56,607 -
Accrued expenses 32,888 33,143
306,472 437,440

8. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - 52,083

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans - 52,083

The bank loan is secured by way of a fixed and floating charge over the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

CONCEPT FINANCE LIMITED (Registered number: 06240155)

Notes to the Financial Statements - continued
for the Year Ended 30 APRIL 2024

11. RELATED PARTY DISCLOSURES

DN Trade Cars Limited

During the year the company purchased vehicle stock totalling £2,446,680 from DN Trade Cars Limited, a company in which D Newmarch is a director and shareholder.

At the year end there was a balance due from DN Trade Cars Limited totalling £78,556.

DGN Cars Limited

During the year the company made sales totalling £311,694 to DGN Cars Limited, a company in which D Newmarch is a director and shareholder.

The company also purchased vehicle stock totalling £377,694 from DGN Cars Limited.

12. ULTIMATE CONTROLLING PARTY

The company was controlled by the directors throughout the year by virtue of their controlling shareholdings.