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REGISTERED NUMBER: 04815243 (England and Wales)











Sutton Motorcycles Tamworth Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024






Sutton Motorcycles Tamworth Limited (Registered number: 04815243)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sutton Motorcycles Tamworth Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: R J Worley
Mrs S Worley
M Worley





SECRETARY: Mrs S Worley





REGISTERED OFFICE: 361 Watling Street
Two Gates
Tamworth
Staffordshire
B77 5AD





REGISTERED NUMBER: 04815243 (England and Wales)





ACCOUNTANTS: Haines Watts
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Sutton Motorcycles Tamworth Limited (Registered number: 04815243)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,501,447 2,571,805

CURRENT ASSETS
Stocks 2,599,178 2,507,510
Debtors 5 171,474 56,194
Cash at bank 84,553 293,245
2,855,205 2,856,949
CREDITORS
Amounts falling due within one year 6 1,814,197 2,053,528
NET CURRENT ASSETS 1,041,008 803,421
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,542,455

3,375,226

CREDITORS
Amounts falling due after more than one year 7 140,833 393,500
NET ASSETS 3,401,622 2,981,726

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 3,401,522 2,981,626
SHAREHOLDERS' FUNDS 3,401,622 2,981,726

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

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

Sutton Motorcycles Tamworth Limited (Registered number: 04815243)

Balance Sheet - continued
31 July 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 14 November 2024 and were signed on its behalf by:





R J Worley - Director


Sutton Motorcycles Tamworth Limited (Registered number: 04815243)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

Sutton Motorcycles Tamworth 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.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. Management are also required to
exercise judgment in the process of applying the company’s accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of
future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

In preparing these financial statements, the directors have made the following judgments:

- Depreciation and residual values. The Directors have reviewed the asset lives and associated residual values of all fixed asset classes, and in particular, the useful economic life and residual values of fixtures and fittings, and have concluded that asset lives are appropriate. The actual lives of the assets are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the net invoiced sale of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Freehold Property1% straight line
Plant and Machinery15% reducing balance
Fixtures, Fittings and Equipment15/25% reducing balance
Motor Vehicles25% 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.

Sutton Motorcycles Tamworth Limited (Registered number: 04815243)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 2,355,510 662,472 3,017,982
Additions - 45,500 45,500
At 31 July 2024 2,355,510 707,972 3,063,482
DEPRECIATION
At 1 August 2023 242,502 203,675 446,177
Charge for year 23,555 92,303 115,858
At 31 July 2024 266,057 295,978 562,035
NET BOOK VALUE
At 31 July 2024 2,089,453 411,994 2,501,447
At 31 July 2023 2,113,008 458,797 2,571,805

Sutton Motorcycles Tamworth Limited (Registered number: 04815243)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 94,283 51,679
Other debtors 77,191 4,515
171,474 56,194

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 56,333 72,591
Trade creditors 1,410,338 1,770,178
Taxation and social security 315,526 151,897
Other creditors 32,000 58,862
1,814,197 2,053,528

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 140,833 393,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
M Worley
Balance outstanding at start of year (38,862 ) -
Amounts advanced 115,953 -
Amounts repaid - (38,862 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 77,091 (38,862 )

Advances made to Directors are non-interest bearing, with no formal terms of repayment. The advances shown above were repaid, in full, after the financial year end.