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Registration number: 00538893

Bendle Motors Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Bendle Motors Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Bendle Motors Limited

(Registration number: 00538893)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

809

1,331

Investment property

5

415,000

415,000

 

415,809

416,331

Current assets

 

Debtors

11,382

692

Creditors: Amounts falling due within one year

6

(167,709)

(165,467)

Net current liabilities

 

(156,327)

(164,775)

Total assets less current liabilities

 

259,482

251,556

Creditors: Amounts falling due after more than one year

6

(28,310)

(33,587)

Net assets

 

231,172

217,969

Capital and reserves

 

Called up share capital

7

750

750

Capital redemption reserve

2,250

2,250

Revaluation reserve

62,329

62,329

Retained earnings

165,843

152,640

Shareholders' funds

 

231,172

217,969

 

Bendle Motors Limited

(Registration number: 00538893)
Balance Sheet as at 30 September 2024 (continued)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 January 2025
 

.........................................
R J Bendle
Director

 

Bendle Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2 Thorndale Court
Thorndale Mews
Bristol
BS8 2JA

These financial statements were authorised for issue by the director on 21 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of rental services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Bendle Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant, equipment and motor vehicles

4-6 years straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Bendle Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes 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.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Bendle Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Tangible assets

Plant, equipment and motor vehicles
£

Total
£

Cost or valuation

At 1 October 2023

24,963

24,963

Additions

249

249

At 30 September 2024

25,212

25,212

Depreciation

At 1 October 2023

23,632

23,632

Charge for the year

771

771

At 30 September 2024

24,403

24,403

Carrying amount

At 30 September 2024

809

809

At 30 September 2023

1,331

1,331

5

Investment properties

2024
£

At 1 October

415,000

At 30 September

415,000

The director undertook a review of the valuation of the investment property held by the company resulting in an assessment that a value of £415,000 reflected the fair value of the property held as at 30 September 2024. This valuation is a director's estimate based on their knowledge of property values in the location and discussions with other property experts in the region.

 

Bendle Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,587

23,371

Taxation and social security

 

3,810

4,151

Accruals and deferred income

 

12,500

12,500

Other creditors

 

140,812

125,445

 

167,709

165,467

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

28,310

33,587

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

750

750

750

750

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

28,310

33,587

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,200

5,200

Bank overdrafts

5,387

18,171

10,587

23,371

 

Bendle Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

9

Related party transactions

Other transactions with the director


At the year end date the company owed the director, Mr R J Bendle, a balance of £140,812 (2023 -
£125,445).