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REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

CHARLOTTE MOTORS (SALVAGE) LIMITED

CHARLOTTE MOTORS (SALVAGE) LIMITED (REGISTERED NUMBER: 01887579)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

CHARLOTTE MOTORS (SALVAGE) LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: K J Tye
G Lawrence





SECRETARY: K J Tye





REGISTERED OFFICE: Artisan View
Heeley
Sheffield
S8 9TN





REGISTERED NUMBER: 01887579 (England and Wales)





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

CHARLOTTE MOTORS (SALVAGE) LIMITED (REGISTERED NUMBER: 01887579)

REPORT OF THE DIRECTORS
for the year ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the salvaging of damaged vehicles.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

K J Tye
G Lawrence

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





K J Tye - Secretary


30 January 2025

CHARLOTTE MOTORS (SALVAGE) LIMITED (REGISTERED NUMBER: 01887579)

BALANCE SHEET
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 22,163 11,233
22,163 11,233

CURRENT ASSETS
Stocks 152,681 192,875
Debtors 6 152,498 146,221
Cash at bank 492,408 526,247
797,587 865,343
CREDITORS
Amounts falling due within one year 7 135,286 142,768
NET CURRENT ASSETS 662,301 722,575
TOTAL ASSETS LESS CURRENT LIABILITIES 684,464 733,808

PROVISIONS FOR LIABILITIES - 3,241
NET ASSETS 684,464 730,567

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 684,364 730,467
SHAREHOLDERS' FUNDS 684,464 730,567

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:



K J Tye - Director


CHARLOTTE MOTORS (SALVAGE) LIMITED (REGISTERED NUMBER: 01887579)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Charlotte Motors (Salvage) 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. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Salvage licence
Amortisation is provided on the licence straight line over 3 years.

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 - Straight line over 5 years
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 4 years

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 Statement of Income and Retained Earnings, 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.

CHARLOTTE MOTORS (SALVAGE) LIMITED (REGISTERED NUMBER: 01887579)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 30,000
AMORTISATION
At 1 May 2023
and 30 April 2024 30,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 19,276 22,473 86,448 1,034 129,231
Additions - - 18,321 - 18,321
At 30 April 2024 19,276 22,473 104,769 1,034 147,552
DEPRECIATION
At 1 May 2023 19,276 19,835 77,853 1,034 117,998
Charge for year - 661 6,730 - 7,391
At 30 April 2024 19,276 20,496 84,583 1,034 125,389
NET BOOK VALUE
At 30 April 2024 - 1,977 20,186 - 22,163
At 30 April 2023 - 2,638 8,595 - 11,233

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 12,016 8,520
Inter company account 83,701 83,701
Deferred tax asset 12,518 -
Prepayments and accrued income 44,263 54,000
152,498 146,221

CHARLOTTE MOTORS (SALVAGE) LIMITED (REGISTERED NUMBER: 01887579)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 11,330 16,147
Tax - 11,472
Social security and other taxes (1,880 ) 3,409
VAT 14,709 356
Other creditors 2,256 -
Directors' current accounts 103,859 104,446
Accrued expenses 5,012 6,938
135,286 142,768

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The controlling party is K J Tye.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CHARLOTTE MOTORS (SALVAGE) LIMITED

The following reproduces the text of the report prepared for the directors 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Charlotte Motors (Salvage) Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Charlotte Motors (Salvage) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Charlotte Motors (Salvage) Limited and state those matters that we have agreed to state to the Board of Directors of Charlotte Motors (Salvage) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Charlotte Motors (Salvage) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Charlotte Motors (Salvage) Limited. You consider that Charlotte Motors (Salvage) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Charlotte Motors (Salvage) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






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


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