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REGISTERED NUMBER: 04433763 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

JOHN W GROOMBRIDGE MOTORCYCLES LIMITED

JOHN W GROOMBRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 04433763)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOHN W GROOMBRIDGE MOTORCYCLES LIMITED

COMPANY INFORMATION
for the Year Ended 31ST MARCH 2024







DIRECTOR: K O'Regan





REGISTERED OFFICE: Mayfield Road Garage
Cross-in-Hand
Heathfield
East Sussex
TN21 0SP





REGISTERED NUMBER: 04433763 (England and Wales)

JOHN W GROOMBRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 04433763)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 39,424 19,873
39,424 19,873

CURRENT ASSETS
Stocks 1,247,372 1,133,667
Debtors 6 135,748 93,558
Cash at bank and in hand 61,072 130,767
1,444,192 1,357,992
CREDITORS
Amounts falling due within one year 7 1,146,487 1,004,976
NET CURRENT ASSETS 297,705 353,016
TOTAL ASSETS LESS CURRENT
LIABILITIES

337,129

372,889

CREDITORS
Amounts falling due after more than one year 8 (33,500 ) (49,427 )

PROVISIONS FOR LIABILITIES (7,490 ) (3,776 )
NET ASSETS 296,139 319,686

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 296,135 319,682
SHAREHOLDERS' FUNDS 296,139 319,686

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

JOHN W GROOMBRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 04433763)

BALANCE SHEET - continued
31ST MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th November 2024 and were signed by:





K O'Regan - Director


JOHN W GROOMBRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 04433763)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31ST MARCH 2024

1. STATUTORY INFORMATION

John W Groombridge Motorcycles 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents income derived from the company's principal activity, excluding value added tax.

Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 100% on cost, 33% on cost and 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

JOHN W GROOMBRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 04433763)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 100,000
AMORTISATION
At 1st April 2023
and 31st March 2024 100,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

JOHN W GROOMBRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 04433763)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2023 5,565 63,908 69,473
Additions - 28,751 28,751
At 31st March 2024 5,565 92,659 98,224
DEPRECIATION
At 1st April 2023 2,409 47,191 49,600
Charge for year 556 8,644 9,200
At 31st March 2024 2,965 55,835 58,800
NET BOOK VALUE
At 31st March 2024 2,600 36,824 39,424
At 31st March 2023 3,156 16,717 19,873

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st April 2023 13,295
Additions 26,990
At 31st March 2024 40,285
DEPRECIATION
At 1st April 2023 3,936
Charge for year 5,713
At 31st March 2024 9,649
NET BOOK VALUE
At 31st March 2024 30,636
At 31st March 2023 9,359

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 13,673 3,835
Other debtors 122,075 89,723
135,748 93,558

JOHN W GROOMBRIDGE MOTORCYCLES LIMITED (REGISTERED NUMBER: 04433763)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 20,000 20,000
Hire purchase contracts (see note 9) 15,824 3,324
Trade creditors 1,075,947 906,787
Taxation and social security 4,533 15,105
Other creditors 30,183 59,760
1,146,487 1,004,976

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 23,333 43,333
Hire purchase contracts (see note 9) 10,167 6,094
33,500 49,427

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 15,824 3,324
Between one and five years 10,167 6,094
25,991 9,418

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 96,960 70,000
Between one and five years 355,520 280,000
In more than five years - 46,667
452,480 396,667

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 25,991 9,418

11. POST BALANCE SHEET EVENTS

The Company has cease to trade on 25 November 2024.