Registered number
14083784
Tom's Motors Chadderton Ltd
Filleted Accounts
31 May 2024
Tom's Motors Chadderton Ltd
Registered number: 14083784
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 333,240 196,189
Current assets
Debtors 4 71,563 25,819
Cash at bank and in hand 76,383 80,261
147,946 106,080
Creditors: amounts falling due within one year 5 (342,286) (284,838)
Net current liabilities (194,340) (178,758)
Total assets less current liabilities 138,900 17,431
Creditors: amounts falling due after more than one year 6 (103,992) -
Net assets 34,908 17,431
Capital and reserves
Called up share capital 100 100
Profit and loss account 34,808 17,331
Shareholders' funds 34,908 17,431
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Burgess
Director
Approved by the board on 5 February 2025
Tom's Motors Chadderton Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 138,910 91,900 230,810
Additions 24,664 171,169 195,833
At 31 May 2024 163,574 263,069 426,643
Depreciation
At 1 June 2023 20,836 13,785 34,621
Charge for the year 21,411 37,371 58,782
At 31 May 2024 42,247 51,156 93,403
Net book value
At 31 May 2024 121,327 211,913 333,240
At 31 May 2023 118,074 78,115 196,189
4 Debtors 2024 2023
£ £
Trade debtors 71,563 25,819
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,800 -
Obligations under finance lease and hire purchase contracts 28,001 -
Trade creditors 84,702 65,933
Taxation and social security costs 3,844 1,389
Accruals 2,200 2,800
Director's Account 203,910 212,460
VAT 13,829 2,256
342,286 284,838
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 28,882 -
Obligations under finance lease and hire purchase contracts 75,110 -
103,992 -
7 Other information
Tom's Motors Chadderton Ltd is a private company limited by shares and incorporated in England. Its registered office is:
838 Middleton Road
Chadderton
Oldham
England
OL9 0PA
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