Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30162023-07-01falseNo description of principal activity16truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05609263 2023-07-01 2024-06-30 05609263 2022-07-01 2023-06-30 05609263 2024-06-30 05609263 2023-06-30 05609263 c:Director1 2023-07-01 2024-06-30 05609263 c:Director2 2023-07-01 2024-06-30 05609263 d:Buildings 2023-07-01 2024-06-30 05609263 d:Buildings 2024-06-30 05609263 d:Buildings 2023-06-30 05609263 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05609263 d:PlantMachinery 2023-07-01 2024-06-30 05609263 d:PlantMachinery 2024-06-30 05609263 d:PlantMachinery 2023-06-30 05609263 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05609263 d:FurnitureFittings 2023-07-01 2024-06-30 05609263 d:FurnitureFittings 2024-06-30 05609263 d:FurnitureFittings 2023-06-30 05609263 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05609263 d:OfficeEquipment 2023-07-01 2024-06-30 05609263 d:OfficeEquipment 2024-06-30 05609263 d:OfficeEquipment 2023-06-30 05609263 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05609263 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05609263 d:CurrentFinancialInstruments 2024-06-30 05609263 d:CurrentFinancialInstruments 2023-06-30 05609263 d:Non-currentFinancialInstruments 2024-06-30 05609263 d:Non-currentFinancialInstruments 2023-06-30 05609263 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 05609263 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05609263 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 05609263 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 05609263 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 05609263 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 05609263 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 05609263 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 05609263 d:ShareCapital 2024-06-30 05609263 d:ShareCapital 2023-06-30 05609263 d:RetainedEarningsAccumulatedLosses 2024-06-30 05609263 d:RetainedEarningsAccumulatedLosses 2023-06-30 05609263 c:OrdinaryShareClass1 2023-07-01 2024-06-30 05609263 c:OrdinaryShareClass1 2024-06-30 05609263 c:OrdinaryShareClass1 2023-06-30 05609263 c:FRS102 2023-07-01 2024-06-30 05609263 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05609263 c:FullAccounts 2023-07-01 2024-06-30 05609263 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05609263 2 2023-07-01 2024-06-30 05609263 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05609263









BOXTREE MOTORS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
BOXTREE MOTORS LIMITED
REGISTERED NUMBER: 05609263

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
134,657
155,222

  
134,657
155,222

Current assets
  

Stocks
  
1,188,994
1,116,851

Debtors: amounts falling due within one year
 5 
105,561
104,512

Cash at bank and in hand
 6 
71,821
136,454

  
1,366,376
1,357,817

Creditors: amounts falling due within one year
 7 
(1,156,518)
(1,023,319)

Net current assets
  
 
 
209,858
 
 
334,498

Total assets less current liabilities
  
344,515
489,720

Creditors: amounts falling due after more than one year
 8 
(49,174)
(121,165)

Provisions for liabilities
  

Deferred tax
  
(25,647)
(34,838)

  
 
 
(25,647)
 
 
(34,838)

Net assets
  
269,694
333,717


Capital and reserves
  

Called up share capital 
 10 
10,000
10,000

Profit and loss account
  
259,694
323,717

  
269,694
333,717

Page 1

 
BOXTREE MOTORS LIMITED
REGISTERED NUMBER: 05609263
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 October 2024.




................................................
Mr J.P. Brearley
................................................
Mrs H.C. Brearley
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BOXTREE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Boxtree Motors Limited is a private company limited by shares, registered in the United Kingdom number 05609263. Its registered office is Manor House, 35 St. Thomas’s Road, Chorley, Lancashire, PR7 1HP.
 
During the year, the principal activity of the company continued to be that of car sales.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
BOXTREE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
BOXTREE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Plant & machinery
-
15%
Fixtures & fittings
-
15%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a individual basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 5

 
BOXTREE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2023 - 16).


4.


Tangible fixed assets





Freehold property
Plant & machinery
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
15,870
151,961
107,331
34,401
309,563


Additions
-
-
-
1,023
1,023



At 30 June 2024

15,870
151,961
107,331
35,424
310,586



Depreciation


At 1 July 2023
-
84,552
48,750
21,039
154,341


Charge for the year on owned assets
-
10,111
8,787
2,690
21,588



At 30 June 2024

-
94,663
57,537
23,729
175,929



Net book value



At 30 June 2024
15,870
57,298
49,794
11,695
134,657



At 30 June 2023
15,870
67,409
58,581
13,362
155,222

Page 6

 
BOXTREE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
79,125
98,308

Other debtors
20,077
516

Prepayments and accrued income
6,359
5,688

105,561
104,512



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
71,821
136,454

71,821
136,454



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
50,000
50,000

Other loans
1,006,071
817,018

Trade creditors
49,296
89,161

Corporation tax
7,139
22,182

Other taxation and social security
8,069
39,528

Other creditors
29,400
54

Accruals and deferred income
6,543
5,376

1,156,518
1,023,319



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
49,174
121,165

49,174
121,165


Page 7

 
BOXTREE MOTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
50,000
50,000

Other loans
1,006,071
817,018


1,056,071
867,018

Amounts falling due 1-2 years

Bank loans
49,174
50,000


49,174
50,000

Amounts falling due 2-5 years

Bank loans
-
71,165


-
71,165


1,105,245
988,183



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £15,702 (2023 - £18,009).

Page 8