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REGISTERED NUMBER: 03502062 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Suffolk Motors (Newmarket) Limited

Suffolk Motors (Newmarket) Limited (Registered number: 03502062)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Suffolk Motors (Newmarket) Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr F Pettitt
Mr N J Ward





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





REGISTERED NUMBER: 03502062 (England and Wales)

Suffolk Motors (Newmarket) Limited (Registered number: 03502062)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 61,263 64,344
Investments 6 10,000 10,000
71,263 74,344

CURRENT ASSETS
Stocks 6,250 6,000
Debtors 7 20,078 4,650
Cash at bank 52,357 51,989
78,685 62,639
CREDITORS
Amounts falling due within one year 8 60,090 42,344
NET CURRENT ASSETS 18,595 20,295
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,858

94,639

CREDITORS
Amounts falling due after more than one year 9 (22,348 ) (29,425 )

PROVISIONS FOR LIABILITIES (17,459 ) -
NET ASSETS 50,051 65,214

CAPITAL AND RESERVES
Called up share capital 668 668
Share premium 21,833 21,833
Capital redemption reserve 500 500
Retained earnings 27,050 42,213
50,051 65,214

Suffolk Motors (Newmarket) Limited (Registered number: 03502062)

Balance Sheet - continued
30 April 2024


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

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

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 Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:




Mr F Pettitt - Director



Mr N J Ward - Director


Suffolk Motors (Newmarket) Limited (Registered number: 03502062)

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


1. STATUTORY INFORMATION

Suffolk Motors (Newmarket) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% 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.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.


Suffolk Motors (Newmarket) Limited (Registered number: 03502062)

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


3. 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
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 159,616
Additions 17,250
Disposals (12,370 )
At 30 April 2024 164,496
DEPRECIATION
At 1 May 2023 95,272
Charge for year 18,130
Eliminated on disposal (10,169 )
At 30 April 2024 103,233
NET BOOK VALUE
At 30 April 2024 61,263
At 30 April 2023 64,344

Suffolk Motors (Newmarket) Limited (Registered number: 03502062)

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


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 10,000
NET BOOK VALUE
At 30 April 2024 10,000
At 30 April 2023 10,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,838 4,410
Other debtors 240 240
20,078 4,650

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,147 4,000
Hire purchase contracts 3,292 3,157
Trade creditors 8,390 9,006
Taxation and social security 32,565 20,301
Other creditors 11,696 5,880
60,090 42,344

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 4,493 8,628
Hire purchase contracts 17,855 20,797
22,348 29,425