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REGISTERED NUMBER: 03809427 (England and Wales)








Unaudited Financial Statements

For The Year Ended 30 September 2024

for

Yealm Motor Services Limited

Yealm Motor Services Limited (Registered number: 03809427)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Yealm Motor Services Limited (Registered number: 03809427)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 72,809 81,910
Tangible assets 5 119,273 129,511
192,082 211,421

CURRENT ASSETS
Stocks 110,423 97,278
Debtors 6 55,045 53,751
Cash at bank and in hand 238,335 240,017
403,803 391,046
CREDITORS
Amounts falling due within one year 7 372,789 394,826
NET CURRENT ASSETS/(LIABILITIES) 31,014 (3,780 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

223,096

207,641

CREDITORS
Amounts falling due after more than one
year

8

-

(13,125

)

PROVISIONS FOR LIABILITIES (5,528 ) (6,824 )
NET ASSETS 217,568 187,692

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 217,468 187,592
SHAREHOLDERS' FUNDS 217,568 187,692

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Yealm Motor Services Limited (Registered number: 03809427)

Balance Sheet - continued
30 September 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 27 November 2024 and were signed on its behalf by:





D Vine - Director


Yealm Motor Services Limited (Registered number: 03809427)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Yealm Motor Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03809427

Registered office: Harscombe House
1 Darklake View
Estover
Plymouth
Devon
PL6 7TL

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.

Intangible assets
Intangible assets consist of goodwill, being the amount paid in connection with the acquisition of a business in 1999. Annual impairment reviews were carried out for the first nine years post acquisition and goodwill is now being amortised over its estimated useful life of twenty five years since 2008. Due to the length of the amortisation period the directors carry out annual impairment reviews and are satisfied that the policy remains appropriate.

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 etc - 25% on reducing balance and 5% on cost.

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.

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.

Yealm Motor Services Limited (Registered number: 03809427)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 227,537
AMORTISATION
At 1 October 2023 145,627
Charge for year 9,101
At 30 September 2024 154,728
NET BOOK VALUE
At 30 September 2024 72,809
At 30 September 2023 81,910

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 435,681
Additions 7,336
Disposals (600 )
At 30 September 2024 442,417
DEPRECIATION
At 1 October 2023 306,170
Charge for year 17,494
Eliminated on disposal (520 )
At 30 September 2024 323,144
NET BOOK VALUE
At 30 September 2024 119,273
At 30 September 2023 129,511

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 19,777 23,389
Other debtors 35,268 30,362
55,045 53,751

Yealm Motor Services Limited (Registered number: 03809427)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 13,125 22,500
Trade creditors 244,100 260,631
Taxation and social security 89,852 79,283
Other creditors 25,712 32,412
372,789 394,826

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans - 13,125

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
D Vine and Mrs E Vine
Balance outstanding at start of year (624 ) (624 )
Amounts advanced 75,900 72,624
Amounts repaid (72,624 ) (72,624 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,652 (624 )

This loan is interest free and repayable on demand.