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Company Registration No. 5718116 (England and Wales)
LONGWOOD MOTOR COMPANY LIMITED Unaudited accounts for the year ended 31 March 2024
LONGWOOD MOTOR COMPANY LIMITED Unaudited accounts Contents
Page
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LONGWOOD MOTOR COMPANY LIMITED Company Information for the year ended 31 March 2024
Directors
E K Twigg C C Twigg
Secretary
M E Twigg
Company Number
5718116 (England and Wales)
Registered Office
333 Manchester Road Huddersfield HD4 5AA
Accountants
JOHN TURNER, CHARTERED ACCOUNTANT 104 PENISTONE ROAD KIRKBURTON HUDDERSFIELD WEST YORKSHIRE HD8 0TA
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LONGWOOD MOTOR COMPANY LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,342 
19,122 
Current assets
Inventories
617,219 
694,171 
Debtors
620 
420 
Cash at bank and in hand
292,931 
360,610 
910,770 
1,055,201 
Creditors: amounts falling due within one year
(232,491)
(294,995)
Net current assets
678,279 
760,206 
Total assets less current liabilities
692,621 
779,328 
Creditors: amounts falling due after more than one year
- 
(56,010)
Provisions for liabilities
Deferred tax
(2,724)
(3,633)
Net assets
689,897 
719,685 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
689,895 
719,683 
Shareholders' funds
689,897 
719,685 
For the year ending 31 March 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by
C C Twigg Director Company Registration No. 5718116
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LONGWOOD MOTOR COMPANY LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
LONGWOOD MOTOR COMPANY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 5718116. The registered office is 333 Manchester Road, Huddersfield, HD4 5AA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on reducing balance basis
Fixtures & fittings
25% on reducing balance basis
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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LONGWOOD MOTOR COMPANY LIMITED Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
44,618 
18,248 
62,866 
At 31 March 2024
44,618 
18,248 
62,866 
Depreciation
At 1 April 2023
31,445 
12,299 
43,744 
Charge for the year
3,293 
1,487 
4,780 
At 31 March 2024
34,738 
13,786 
48,524 
Net book value
At 31 March 2024
9,880 
4,462 
14,342 
At 31 March 2023
13,173 
5,949 
19,122 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
620 
420 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
55,765 
72,000 
VAT
14,085 
17,244 
Trade creditors
37,306 
50,244 
Taxes and social security
305 
16,793 
Loans from directors
125,030 
138,714 
232,491 
294,995 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
56,010 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
1 Class A Ordinary shares of £1 each
1 
1 
2 
2 
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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