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
Northway Porsche Limited
Company Information
for the year ended 31 March 2024
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
Northway Porsche Limited
Statement of financial position
as at 31 March 2024
Tangible assets
1,789,811
1,182,084
Inventories
563,505
283,285
Cash at bank and in hand
1,523,257
2,190,281
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
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
Northway Porsche Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
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
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
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
Amounts falling due within one year
Trade debtors
15,509
12,832
Accrued income and prepayments
3,381
2,732
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
24,099
34,012
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)
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Average number of employees
During the year the average number of employees was 6 (2023: 6).