Company Registration No. 05319365 (England and Wales)
Newmarket Motor Company Limited
Unaudited accounts
for the year ended 31 March 2024
Newmarket Motor Company Limited
Unaudited accounts
Contents
Newmarket Motor Company Limited
Company Information
for the year ended 31 March 2024
Directors
Mr M Crack
Mr M J Swaffer
Mr A P Lowings
Company Number
05319365 (England and Wales)
Registered Office
67 Exning Road
Newmarket
Suffolk
CB8 0EA
Newmarket Motor Company Limited
Statement of financial position
as at 31 March 2024
Tangible assets
9,568
4,078
Inventories
3,936,491
3,567,652
Cash at bank and in hand
87,530
132,455
Creditors: amounts falling due within one year
(3,388,399)
(3,363,036)
Net current assets
1,091,765
1,075,048
Total assets less current liabilities
1,101,333
1,079,126
Creditors: amounts falling due after more than one year
(47,742)
(100,019)
Net assets
1,053,591
979,107
Called up share capital
300
300
Profit and loss account
1,053,291
978,807
Shareholders' funds
1,053,591
979,107
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 directors acknowledge their 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 of Directors and authorised for issue on 31 December 2024 and were signed on its behalf by
Mr M Crack
Director
Company Registration No. 05319365
Newmarket Motor Company Limited
Notes to the Accounts
for the year ended 31 March 2024
Newmarket Motor Company Limited is a private company, limited by shares, registered in England and Wales, registration number 05319365. The registered office is 67 Exning Road, Newmarket, Suffolk, CB8 0EA.
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 pound sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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
20% on cost
Motor vehicles
25% on cost
Fixtures & fittings
15% on cost
Inventories have been valued at the lower of cost and estimated selling price, after making due allowance for obsolete and slow moving items.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Newmarket Motor Company Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
47,698
10,900
18,497
77,095
Additions
10,583
-
-
10,583
At 31 March 2024
58,281
10,900
18,497
87,678
At 1 April 2023
43,760
10,900
18,357
73,017
Charge for the year
4,881
-
212
5,093
At 31 March 2024
48,641
10,900
18,569
78,110
At 31 March 2024
9,640
-
(72)
9,568
At 31 March 2023
3,938
-
140
4,078
Amounts falling due within one year
Trade debtors
456,143
661,376
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
908,610
739,993
Trade creditors
229,328
989,476
Taxes and social security
100,790
186,079
Other creditors
2,096,961
1,407,599
Loans from directors
33,331
38,389
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 27 (2023: 24).