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REGISTERED NUMBER: 05141832 (England and Wales)




























Unaudited Financial Statements

for the Year Ended 31 July 2024

for

K Motors Limited

K Motors Limited (Registered number: 05141832)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K Motors Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr B P Iddon
Mr P B Knowles





REGISTERED OFFICE: 9 Chapel Walk
Longton
Preston
PR4 5AD





REGISTERED NUMBER: 05141832 (England and Wales)





ACCOUNTANTS: DonnellyBentley Limited
Chartered Accountants
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY

K Motors Limited (Registered number: 05141832)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 65,245 57,147
65,245 57,147

CURRENT ASSETS
Stocks 6,000 6,000
Debtors 6 58,300 52,747
Cash at bank 61,799 49,719
126,099 108,466
CREDITORS
Amounts falling due within one year 7 187,689 169,348
NET CURRENT LIABILITIES (61,590 ) (60,882 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,655

(3,735

)

PROVISIONS FOR LIABILITIES 8 3,425 8,040
NET ASSETS/(LIABILITIES) 230 (11,775 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 229 (11,776 )
SHAREHOLDERS' FUNDS 230 (11,775 )

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

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

K Motors Limited (Registered number: 05141832)

Balance Sheet - continued
31 July 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 Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





Mr B P Iddon - Director


K Motors Limited (Registered number: 05141832)

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

1. STATUTORY INFORMATION

K Motors 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 2004, 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 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 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.

K Motors Limited (Registered number: 05141832)

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

2. ACCOUNTING POLICIES - continued

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 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 50,000
AMORTISATION
At 1 August 2023
and 31 July 2024 50,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 53,950 24,768 61,200 18,814 158,732
Additions - - 40,000 1,274 41,274
Disposals - - (34,950 ) - (34,950 )
At 31 July 2024 53,950 24,768 66,250 20,088 165,056
DEPRECIATION
At 1 August 2023 34,974 21,986 26,682 17,943 101,585
Charge for year 3,795 556 2,077 536 6,964
Eliminated on disposal - - (8,738 ) - (8,738 )
At 31 July 2024 38,769 22,542 20,021 18,479 99,811
NET BOOK VALUE
At 31 July 2024 15,181 2,226 46,229 1,609 65,245
At 31 July 2023 18,976 2,782 34,518 871 57,147

K Motors Limited (Registered number: 05141832)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 26,394 11,369
Amounts owed by group undertakings 10,890 21,870
Other debtors 9,081 5,810
Tax - 2,192
Prepayments 11,935 11,506
58,300 52,747

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,224 36,493
Amounts owed to group undertakings 28,865 81,169
Tax 38,291 -
Social security and other taxes 35,284 24,460
Other creditors 25,078 14,829
Directors' current accounts 28,547 11,047
Accrued expenses 1,400 1,350
187,689 169,348

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,425 8,040

Deferred
tax
£   
Balance at 1 August 2023 8,040
Provided during year (4,615 )
Balance at 31 July 2024 3,425

9. CALLED UP SHARE CAPITAL

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

K Motors Limited (Registered number: 05141832)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr P B Knowles
Balance outstanding at start of year - 3,500
Amounts repaid - (3,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

11. RELATED PARTY DISCLOSURES

Included in creditors: amounts falling due within one year is an amount £28,547 (2023: £11,047) which is owed to Mr B P Iddon, a director of the company.