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REGISTERED NUMBER: 04451519 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

POOLFOOT MOTORS LIMITED

POOLFOOT MOTORS LIMITED (REGISTERED NUMBER: 04451519)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POOLFOOT MOTORS LIMITED

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTORS: P D Riding
L M Riding
P A Riding
Mrs P D Cook
Mrs B L Clayton
Mrs D M Wright





SECRETARY: L M Riding





REGISTERED OFFICE: 17 St Peters Place
Fleetwood
Lancashire
FY7 6EB





REGISTERED NUMBER: 04451519 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

POOLFOOT MOTORS LIMITED (REGISTERED NUMBER: 04451519)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 598,344 601,164
598,344 601,164

CURRENT ASSETS
Stocks 2,523,681 2,611,236
Debtors 6 2,890 2,890
Cash at bank and in hand 129,106 200
2,655,677 2,614,326
CREDITORS
Amounts falling due within one year 7 (643,302 ) (712,590 )
NET CURRENT ASSETS 2,012,375 1,901,736
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,610,719

2,502,900

CREDITORS
Amounts falling due after more than one
year

8

(333,603

)

(183,343

)

PROVISIONS FOR LIABILITIES (2,714 ) (2,855 )
NET ASSETS 2,274,402 2,316,702

CAPITAL AND RESERVES
Called up share capital 160 160
Retained earnings 2,274,242 2,316,542
SHAREHOLDERS' FUNDS 2,274,402 2,316,702

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

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

POOLFOOT MOTORS LIMITED (REGISTERED NUMBER: 04451519)

BALANCE SHEET - continued
31 May 2024


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 30 January 2025 and were signed on its behalf by:





L M Riding - Director


POOLFOOT MOTORS LIMITED (REGISTERED NUMBER: 04451519)

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

1. STATUTORY INFORMATION

Poolfoot Motors 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 represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Short leasehold - not provided
Fixtures and fittings - 10% on cost
Computer equipment - Straight line over 3 years

Contrary to the requirements of the Financial Reporting Standard 102, the company does not provide for depreciation on freehold buildings or leasehold land and buildings. In the opinion of the directors the residual value of the property is so high and its useful life so long that any depreciation charged would be wholly immaterial.

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.


POOLFOOT MOTORS LIMITED (REGISTERED NUMBER: 04451519)

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

2. 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.

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.

Going concern
The directors are satisfied at the time of approving the financial statements that the company has adequate resources to continue to operate for the foreseeable future and as such, continues to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 80,000
AMORTISATION
At 1 June 2023
and 31 May 2024 80,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

POOLFOOT MOTORS LIMITED (REGISTERED NUMBER: 04451519)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and Computer
property leasehold fittings equipment Totals
£    £    £    £    £   
COST
At 1 June 2023
and 31 May 2024 582,025 4,113 52,048 10,853 649,039
DEPRECIATION
At 1 June 2023 - - 38,626 9,249 47,875
Charge for year - - 1,943 877 2,820
At 31 May 2024 - - 40,569 10,126 50,695
NET BOOK VALUE
At 31 May 2024 582,025 4,113 11,479 727 598,344
At 31 May 2023 582,025 4,113 13,422 1,604 601,164

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 40 40
Prepayments 2,850 2,850
2,890 2,890

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 88,938 134,517
Other loans 123,279 58,663
Trade creditors - 52,659
Tax 19,546 124,035
Social security and other taxes 6,213 6,815
VAT 125,194 27,191
Directors' current accounts 270,010 298,978
Accruals and deferred income 10,122 9,732
643,302 712,590

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 333,603 183,343

Bank loans outstanding at the year end amounted to £422,541 (2023 - £207,120) and include instalments due after more than five years of £69,801 (2023 - £91,441)

POOLFOOT MOTORS LIMITED (REGISTERED NUMBER: 04451519)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 110,740
Other loans 123,279 58,663
123,279 169,403

The Other loan is a stocking plan secured on the vehicles on which finance has been provided.

Both the overdraft and £402,583 (2023: £177,020) of bank loans are secured on the assets of the company.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
L M Riding
Balance outstanding at start of year - 4,097
Amounts advanced 45,830 36,820
Amounts repaid (45,830 ) (40,917 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loans to the directors were unsecured and repayable on demand. Interest is payable at the HMRC rate applicable to beneficial loan arrangements.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £108,000 (2023 - £100,000) were paid to the directors .