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REGISTERED NUMBER: 01294757 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

BIG M MOTOR SPARES LIMITED

BIG M MOTOR SPARES LIMITED (REGISTERED NUMBER: 01294757)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BIG M MOTOR SPARES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: C C Watmough





SECRETARY: C C Watmough





REGISTERED OFFICE: 118 Upper Wickham Lane
Welling
Kent
DA16 3DR





REGISTERED NUMBER: 01294757 (England and Wales)





ACCOUNTANTS: Sargeant Partnership LLP
Chartered Accountants
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

BIG M MOTOR SPARES LIMITED (REGISTERED NUMBER: 01294757)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 429,803 381,616

CURRENT ASSETS
Stocks 143,076 146,488
Debtors 5 135,962 191,728
Cash at bank and in hand 23,210 49,859
302,248 388,075
CREDITORS
Amounts falling due within one year 6 1,358,556 1,154,199
NET CURRENT LIABILITIES (1,056,308 ) (766,124 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(626,505

)

(384,508

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 178,219 178,219
Retained earnings 8 (804,824 ) (562,827 )
SHAREHOLDERS' FUNDS (626,505 ) (384,508 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

BIG M MOTOR SPARES LIMITED (REGISTERED NUMBER: 01294757)

BALANCE SHEET - continued
31 JANUARY 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 15 January 2025 and were signed by:





C C Watmough - Director


BIG M MOTOR SPARES LIMITED (REGISTERED NUMBER: 01294757)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Big M Motor Spares 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of used cars and vehicle servicing, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% per annum on reducing balance
Fixtures and fittings - 25% per annum on reducing balance
Motor vehicles - 25% per annum on reducing balance

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 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.

BIG M MOTOR SPARES LIMITED (REGISTERED NUMBER: 01294757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
The accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 February 2023 361,287 148,250 99,962 17,498 626,997
Additions 50,000 334 3,311 - 53,645
At 31 January 2024 411,287 148,584 103,273 17,498 680,642
DEPRECIATION
At 1 February 2023 - 135,897 94,321 15,163 245,381
Charge for year - 3,123 1,751 584 5,458
At 31 January 2024 - 139,020 96,072 15,747 250,839
NET BOOK VALUE
At 31 January 2024 411,287 9,564 7,201 1,751 429,803
At 31 January 2023 361,287 12,353 5,641 2,335 381,616

Cost or valuation at 31 January 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2008 332,000 - - - 332,000
Cost 79,287 148,584 103,273 17,498 348,642
411,287 148,584 103,273 17,498 680,642

BIG M MOTOR SPARES LIMITED (REGISTERED NUMBER: 01294757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,294 1,341
Amounts owed by participating interests 126,220 174,720
Other debtors 7,448 15,667
135,962 191,728

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 207,935 197,029
Amounts owed to group undertakings 984,352 855,981
Taxation and social security 80,301 45,563
Other creditors 85,968 55,626
1,358,556 1,154,199

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2023 (562,827 ) 178,219 (384,608 )
Deficit for the year (241,997 ) (241,997 )
At 31 January 2024 (804,824 ) 178,219 (626,605 )

BIG M MOTOR SPARES LIMITED (REGISTERED NUMBER: 01294757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. RELATED PARTY DISCLOSURES

The company was charged rent during the year by the following related parties:-

2024 2023
The Big M Pension Fund £75,471 £89,196
N A Watmough and C C Watmough £210 £29,253

The related party balances are in respect of the following business or companies which are owned by the directors:-

2024 2023
Owed by/(to) Watmough Brothers Investments Limited (£984,352 ) (£855,981 )
Owed by/(to) Watmough & Co Autos (£5,361 ) (£15,110 )


The company also had related party balances with the following in which the directors are trustees:-

2024 2023
Owed by/(to) Watmough Grandchildrens Trust £126,220 £124,720

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Watmough Brothers Investments Limited, a company registered in England, which owns 100% of the ordinary share capital of the company. The estate of N A Watmough, C C Watmough and his wife, are the sole shareholders of Watmough Brothers Investments Limited.