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REGISTERED NUMBER: 04172071 (England and Wales)

















Sturminster Newton MOT Centre Limited

Financial Statements

for the Year Ended 31 May 2024






Sturminster Newton MOT Centre Limited (Registered number: 04172071)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sturminster Newton MOT Centre Limited

Company Information
for the year ended 31 May 2024







DIRECTOR: K Atkins





SECRETARY: Mrs C J Atkins





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 04172071 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

Sturminster Newton MOT Centre Limited (Registered number: 04172071)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,947 9,148
Investment property 5 750,000 740,000
759,947 749,148

CURRENT ASSETS
Stocks 3,961 3,844
Debtors 6 7,353 11,167
Cash at bank and in hand 1,298,382 1,351,416
1,309,696 1,366,427
CREDITORS
Amounts falling due within one year 7 103,200 131,075
NET CURRENT ASSETS 1,206,496 1,235,352
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,966,443

1,984,500

PROVISIONS FOR LIABILITIES 8 16,511 13,811
NET ASSETS 1,949,932 1,970,689

CAPITAL AND RESERVES
Called up share capital 100 100
Undistributable reserves 9 42,073 34,573
Retained earnings 1,907,759 1,936,016
SHAREHOLDERS' FUNDS 1,949,932 1,970,689

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 director acknowledges his 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 director and authorised for issue on 10 February 2025 and were signed by:





K Atkins - Director


Sturminster Newton MOT Centre Limited (Registered number: 04172071)

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


1. STATUTORY INFORMATION

Sturminster Newton MOT Centre 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 as modified by the revaluation of certain assets.

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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Undistributable reserves
Whilst fair value gains on investment property are taken to the profit and loss account, they are not distributable as dividend to shareholders because the gain is unrealised. The company therefore adopts the policy of transferring the fair value adjustment net/inclusive of the deferred tax charge/credit to a separate account, 'undistributable reserves'.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Sturminster Newton MOT Centre Limited (Registered number: 04172071)

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


4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 26,564 39,804 66,368
Additions 1,808 1,100 2,908
Disposals - (18,304 ) (18,304 )
At 31 May 2024 28,372 22,600 50,972
DEPRECIATION
At 1 June 2023 18,485 38,735 57,220
Charge for year 1,483 514 1,997
Eliminated on disposal - (18,192 ) (18,192 )
At 31 May 2024 19,968 21,057 41,025
NET BOOK VALUE
At 31 May 2024 8,404 1,543 9,947
At 31 May 2023 8,079 1,069 9,148

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 740,000
Revaluations 10,000
At 31 May 2024 750,000
NET BOOK VALUE
At 31 May 2024 750,000
At 31 May 2023 740,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 56,097
Cost 693,903
750,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 693,903 693,903

Investment property was valued on a fair value basis on 31 May 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,184 9,757
Prepayments and accrued income 1,169 1,410
7,353 11,167

Sturminster Newton MOT Centre Limited (Registered number: 04172071)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,129 19,298
UK corporation tax 5,014 52,163
Tax and social security costs 12,831 16,219
Other creditors 396 314
Directors' current accounts 52,330 40,581
Accruals and deferred income 2,500 2,500
103,200 131,075

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 2,487 2,287
Capital gains on investment properties 14,024 11,524
16,511 13,811

Deferred
tax
£   
Balance at 1 June 2023 13,811
Charge to Income Statement during year 2,700
Balance at 31 May 2024 16,511

9. RESERVES
Undistributable
reserves
£   
At 1 June 2023 34,573
Transfer unrealised gain/loss on investment
properties to undistributable reserves

7,500


At 31 May 2024 42,073

Undistributable reserves represent the unrealised gains on carrying investment property at fair value less the deferred tax provision thereon; being unrealised, such amounts are not available to be distributed as dividend to shareholders.