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REGISTERED NUMBER: 03967781 (England and Wales)














Financial Statements

for the Year Ended 30 April 2024

for

Stockport Truck Centre Limited

Stockport Truck Centre Limited (Registered number: 03967781)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Stockport Truck Centre Limited (Registered number: 03967781)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,187 14,988
Tangible assets 5 362,986 281,541
372,173 296,529

CURRENT ASSETS
Stocks 67,037 79,092
Debtors 6 2,324,951 2,125,661
Cash at bank and in hand 158,386 359,922
2,550,374 2,564,675
CREDITORS
Amounts falling due within one year 7 1,079,569 1,185,922
NET CURRENT ASSETS 1,470,805 1,378,753
TOTAL ASSETS LESS CURRENT LIABILITIES 1,842,978 1,675,282

CREDITORS
Amounts falling due after more than one year 8 (50,167 ) (67,367 )

PROVISIONS FOR LIABILITIES (78,645 ) (62,988 )
NET ASSETS 1,714,166 1,544,927

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,714,066 1,544,827
SHAREHOLDERS' FUNDS 1,714,166 1,544,927

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by:





Mr G Hardy - Director


Stockport Truck Centre Limited (Registered number: 03967781)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Stockport Truck Centre 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: 03967781

Registered office: Old Moor Road
Bredbury
Stockport
Cheshire
SK6 2QE

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied. Therefore turnover also includes the element of work completed but not yet invoiced.

Intangible assets
The intangible assets of the business are to be depreciated on a straight line basis over 3 years from when they come into operation.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Depreciation is calculated at the headline annual rate, but is charged within the accounts on a monthly basis.

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 Profit and Loss Account, 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.

Stockport Truck Centre Limited (Registered number: 03967781)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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.

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 65 (2023 - 65 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 May 2023
and 30 April 2024 84,869
AMORTISATION
At 1 May 2023 69,881
Amortisation for year 5,801
At 30 April 2024 75,682
NET BOOK VALUE
At 30 April 2024 9,187
At 30 April 2023 14,988

Stockport Truck Centre Limited (Registered number: 03967781)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 May 2023 - 449,866 17,991
Additions 40,385 135,979 2,400
Disposals - (9,361 ) -
At 30 April 2024 40,385 576,484 20,391
DEPRECIATION
At 1 May 2023 - 279,558 6,340
Charge for year 1,597 48,495 3,313
Eliminated on disposal - (4,880 ) -
At 30 April 2024 1,597 323,173 9,653
NET BOOK VALUE
At 30 April 2024 38,788 253,311 10,738
At 30 April 2023 - 170,308 11,651

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 223,326 63,024 754,207
Additions - - 178,764
Disposals (75,708 ) - (85,069 )
At 30 April 2024 147,618 63,024 847,902
DEPRECIATION
At 1 May 2023 140,665 46,103 472,666
Charge for year 20,287 8,079 81,771
Eliminated on disposal (64,641 ) - (69,521 )
At 30 April 2024 96,311 54,182 484,916
NET BOOK VALUE
At 30 April 2024 51,307 8,842 362,986
At 30 April 2023 82,661 16,921 281,541

Stockport Truck Centre Limited (Registered number: 03967781)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 86,000 41,900 127,900
Disposals - (20,950 ) (20,950 )
Transfer to ownership - (20,950 ) (20,950 )
At 30 April 2024 86,000 - 86,000
DEPRECIATION
At 1 May 2023 5,375 27,541 32,916
Charge for year 20,156 3,382 23,538
Eliminated on disposal - (15,357 ) (15,357 )
Transfer to ownership - (15,566 ) (15,566 )
At 30 April 2024 25,531 - 25,531
NET BOOK VALUE
At 30 April 2024 60,469 - 60,469
At 30 April 2023 80,625 14,359 94,984

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 876,313 818,795
Amounts owed by group undertakings 1,223,177 989,458
Other debtors 225,461 317,408
2,324,951 2,125,661

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 17,200 21,857
Trade creditors 667,230 692,901
Taxation and social security 236,310 309,907
Other creditors 158,829 161,257
1,079,569 1,185,922

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 50,167 67,367

Stockport Truck Centre Limited (Registered number: 03967781)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 17,200 21,857
Between one and five years 50,167 67,367
67,367 89,224

Non-cancellable operating leases
2024 2023
£    £   
Within one year 295,077 1,169
Between one and five years 1,171,950 2,223
In more than five years 3,590,550 -
5,057,577 3,392

During the period the company entered into non-cancellable operating leases which are due to expire before 2043.

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 67,367 89,224

The hire purchase liability is secured against the assets to which it relates.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jeremy Bostock BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Thompson Wright Limited

12. OTHER FINANCIAL COMMITMENTS

The group has entered into a composite unlimited multilateral guarantee with the HSBC Bank Plc as follows:

- A group guarantee and debentures consisting of fixed and floating charged over all the assets and undertaking of the reporting entity, STC Holdings Limited, STC Sales & Leasing Limited and Stockport Truck Centre Limited.

13. RELATED PARTY DISCLOSURES

The company has utilised the exemption under FRS 8, not to disclose transactions with other group members as they are all wholly owned by the same parent company.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr G Hardy.

The parent company is STC Holdings Ltd, a company registered in Great Britain, which holds 100% of the share capital in Stockport Truck Centre Ltd.