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REGISTERED NUMBER: 12584294 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31st May 2024

for

Emporium Car Sales Ltd

Emporium Car Sales Ltd (Registered number: 12584294)






Contents of the Financial Statements
for the year ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Emporium Car Sales Ltd

Company Information
for the year ended 31st May 2024







DIRECTORS: Mr S J Moore
Mr B Bryant





REGISTERED OFFICE: Emporium Car Sales Ltd
Hereward Way
Weeting
Brandon
IP27 0QN





REGISTERED NUMBER: 12584294 (England and Wales)





ACCOUNTANTS: TWR Accountants
The Old Registrars
57a High Street
Brandon
Suffolk
IP27 0AU

Emporium Car Sales Ltd (Registered number: 12584294)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 467 234

CURRENT ASSETS
Stocks 68,135 34,901
Debtors 5 16,013 17,855
Cash at bank and in hand 2,123 5,556
86,271 58,312
CREDITORS
Amounts falling due within one year 6 27,837 18,137
NET CURRENT ASSETS 58,434 40,175
TOTAL ASSETS LESS CURRENT LIABILITIES 58,901 40,409

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7 58,801 40,309
58,901 40,409

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

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

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 25th February 2025 and were signed on its behalf by:




Mr S J Moore - Director


Emporium Car Sales Ltd (Registered number: 12584294)

Notes to the Financial Statements
for the year ended 31st May 2024

1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

Emporium Car Sales Ltd (Registered number: 12584294)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st June 2023 - 416 416
Additions 342 - 342
At 31st May 2024 342 416 758
DEPRECIATION
At 1st June 2023 - 182 182
Charge for year 51 58 109
At 31st May 2024 51 240 291
NET BOOK VALUE
At 31st May 2024 291 176 467
At 31st May 2023 - 234 234

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 383 193
Other debtors 8,262 10,368
Prepayments 7,368 7,294
16,013 17,855

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,423 7,781
Tax 4,283 130
VAT 5,154 2,575
Directors' current accounts 7,963 7,651
Accrued expenses 14 -
27,837 18,137

7. RESERVES
Retained
earnings
£   

At 1st June 2023 40,309
Profit for the year 18,492
At 31st May 2024 58,801

Emporium Car Sales Ltd (Registered number: 12584294)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

8. RELATED PARTY DISCLOSURES

During the year the company bought goods and services totalling £79,067 (2023: £50,491) from Breckland Vehicle Specialists Ltd, a company in which Mr S J Moore is also a director. At the balance sheet date the company owed Breckland Vehicle Specialists Ltd £6,589 (2023: £2,273). These transactions were carried out at arms length.

During the year the company sold goods totalling £12,495 (2023: £6,100) to Breckland Vehicle Specialists Ltd. At the balance sheet date the company was owed £193 (2023: £193) by Breckland Vehicle Specialists Ltd.

During the year the company bought goods and services totalling £nil (2023: £3,058) from Car2trade Ltd, a company in which Mr S J Moore is also a director. No monies were owing at the balance sheet date (2023: £nil). These transactions were carried out at arms length.

At the balance sheet date the company was owed monies totalling £8,262 (2023: £10,368). This loan balance was shown within other debtors.


9. ULTIMATE CONTROLLING PARTY

The company was controlled by its directors collectively during the period.