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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

G H MOTORS (MANSFIELD) LIMITED

G H MOTORS (MANSFIELD) LIMITED (REGISTERED NUMBER: 08929354)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 6

G H MOTORS (MANSFIELD) LIMITED

COMPANY INFORMATION
for the year ended 31 July 2024







DIRECTOR: Mr G Hunt





REGISTERED OFFICE: Old Mill Lane
Mansfield
Nottinghamshire
NG19 9AL





REGISTERED NUMBER: 08929354 (England and Wales)





ACCOUNTANTS: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

G H MOTORS (MANSFIELD) LIMITED (REGISTERED NUMBER: 08929354)

BALANCE SHEET
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 94,865 89,881

CURRENT ASSETS
Stocks 938,671 797,462
Debtors 5 55,781 119,737
Cash at bank and in hand 203,552 82,299
1,198,004 999,498
CREDITORS
Amounts falling due within one year 6 373,022 227,272
NET CURRENT ASSETS 824,982 772,226
TOTAL ASSETS LESS CURRENT LIABILITIES 919,847 862,107

CREDITORS
Amounts falling due after more than one year 7 (11,757 ) (39,211 )

PROVISIONS FOR LIABILITIES (2,737 ) (3,874 )
NET ASSETS 905,353 819,022

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 905,352 819,021
905,353 819,022

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

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

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 28 January 2025 and were signed by:





Mr G Hunt - Director


G H MOTORS (MANSFIELD) LIMITED (REGISTERED NUMBER: 08929354)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2024

1. STATUTORY INFORMATION

G H Motors (Mansfield) 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.

Turnover
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Computer equipment - 33.3% straight line

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.

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 6 (2023 - 6 ) .

G H MOTORS (MANSFIELD) LIMITED (REGISTERED NUMBER: 08929354)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 92,542 20,863 3,000 10,186 126,591
Additions 20,864 - - 749 21,613
At 31 July 2024 113,406 20,863 3,000 10,935 148,204
DEPRECIATION
At 1 August 2023 20,808 7,865 1,313 6,724 36,710
Charge for year 11,171 2,600 421 2,437 16,629
At 31 July 2024 31,979 10,465 1,734 9,161 53,339
NET BOOK VALUE
At 31 July 2024 81,427 10,398 1,266 1,774 94,865
At 31 July 2023 71,734 12,998 1,687 3,462 89,881

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 3,000 240
Amounts owed by associates 39,853 -
Other debtors 4,131 -
Directors' current accounts - 110,229
Prepayments 8,797 9,268
55,781 119,737

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 27,454 26,751
Trade creditors 86,355 49,488
Tax 51,271 62,384
Social security and other taxes 5,444 2,701
VAT 61,620 59,002
Other creditors 108,163 22,790
Directors' current accounts 613 -
Accruals and deferred income 32,102 4,156
373,022 227,272

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans - 1-2 years 11,757 27,454
Bank loans - 2-5 years - 11,757
11,757 39,211

G H MOTORS (MANSFIELD) LIMITED (REGISTERED NUMBER: 08929354)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 39,211 65,962

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
Mr G Hunt
Balance outstanding at start of year 110,229 -
Amounts advanced - 110,229
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 110,229

Interest has been charged at rate of 2.5%, the loan is repayable on demand.

G H MOTORS (MANSFIELD) LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
G H MOTORS (MANSFIELD) LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


Date: .............................................