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Company Registration No. 04571829 (England and Wales)
Northway Porsche Limited Unaudited accounts for the year ended 31 March 2024
Northway Porsche Limited Unaudited accounts Contents
Page
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Northway Porsche Limited Company Information for the year ended 31 March 2024
Director
Ray Northway
Company Number
04571829 (England and Wales)
Registered Office
Grange Place, Grange Lane Beenham Industrial Estate Bath Road, Reading Berkshire RG7 5PT United Kingdom
Accountants
Greumach Limited Bay View House St Ives Road Carbis Bay Cornwall TR26 2RT
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Northway Porsche Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,789,811 
1,182,084 
Current assets
Inventories
563,505 
283,285 
Debtors
18,890 
15,564 
Cash at bank and in hand
1,523,257 
2,190,281 
2,105,652 
2,489,130 
Creditors: amounts falling due within one year
(253,361)
(180,791)
Net current assets
1,852,291 
2,308,339 
Net assets
3,642,102 
3,490,423 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
3,642,002 
3,490,323 
Shareholders' funds
3,642,102 
3,490,423 
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 director acknowledges his 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 and authorised for issue on 31 October 2024 and were signed on its behalf by
Ray Northway Director Company Registration No. 04571829
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Northway Porsche Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Northway Porsche Limited is a private company, limited by shares, registered in England and Wales, registration number 04571829. The registered office is Grange Place, Grange Lane, Beenham Industrial Estate, Bath Road, Reading, Berkshire, RG7 5PT, United Kingdom.
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 as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
180,560 
At 31 March 2024
180,560 
Amortisation
At 1 April 2023
180,560 
At 31 March 2024
180,560 
Net book value
At 31 March 2024
- 
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Northway Porsche Limited Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
1,166,177 
16,758 
55,200 
2,521 
1,240,656 
Additions
606,529 
6,900 
- 
- 
613,429 
At 31 March 2024
1,772,706 
23,658 
55,200 
2,521 
1,854,085 
Depreciation
At 1 April 2023
- 
15,654 
40,601 
2,317 
58,572 
Charge for the year
- 
2,001 
3,650 
51 
5,702 
At 31 March 2024
- 
17,655 
44,251 
2,368 
64,274 
Net book value
At 31 March 2024
1,772,706 
6,003 
10,949 
153 
1,789,811 
At 31 March 2023
1,166,177 
1,104 
14,599 
204 
1,182,084 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,509 
12,832 
Accrued income and prepayments
3,381 
2,732 
18,890 
15,564 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
24,099 
34,012 
VAT
24,685 
35,892 
Trade creditors
82,810 
37,741 
Taxes and social security
84,291 
72,875 
Other creditors
18,796 
21,379 
Loans from directors
16,180 
(29,100)
Accruals
2,500 
7,992 
253,361 
180,791 
8
Average number of employees
During the year the average number of employees was 6 (2023: 6).
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