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Company Registration No. 03655315 (England and Wales)
S.J. Sportscars Limited Unaudited accounts for the year ended 30 June 2024
S.J. Sportscars Limited Unaudited accounts Contents
Page
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S.J. Sportscars Limited Company Information for the year ended 30 June 2024
Director
Stephen Alan Roberts
Company Number
03655315 (England and Wales)
Registered Office
Lotus House Lords Meadow Crediton Devon EX17 1DN
Accountants
H W Martin & Co LLP Lloyds Bank Chambers High Street Crediton Devon EX17 3AH
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S.J. Sportscars Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
13,400 
13,400 
Tangible assets
17,254 
129,312 
30,654 
142,712 
Current assets
Inventories
889,490 
924,926 
Debtors
620,183 
285,349 
Cash at bank and in hand
180,770 
355,721 
1,690,443 
1,565,996 
Creditors: amounts falling due within one year
(208,577)
(278,366)
Net current assets
1,481,866 
1,287,630 
Net assets
1,512,520 
1,430,342 
Capital and reserves
Called up share capital
100 
100 
Capital redemption reserve
1 
1 
Profit and loss account
1,512,419 
1,430,241 
Shareholders' funds
1,512,520 
1,430,342 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 March 2025 and were signed on its behalf by
Stephen Alan Roberts Director Company Registration No. 03655315
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S.J. Sportscars Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
S.J. Sportscars Limited is a private company, limited by shares, registered in England and Wales, registration number 03655315. The registered office is Lotus House, Lords Meadow, Crediton, Devon, EX17 1DN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Goodwill
The goodwill purchased by the company is not amortised.
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance basis
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S.J. Sportscars Limited Notes to the Accounts for the year ended 30 June 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 July 2023
13,400 
At 30 June 2024
13,400 
Amortisation
At 1 July 2023
- 
At 30 June 2024
- 
Net book value
At 30 June 2024
13,400 
At 30 June 2023
13,400 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2023
116,250 
65,234 
181,484 
Additions
- 
8,506 
8,506 
Disposals
(116,250)
- 
(116,250)
At 30 June 2024
- 
73,740 
73,740 
Depreciation
At 1 July 2023
- 
52,172 
52,172 
Charge for the year
- 
4,314 
4,314 
At 30 June 2024
- 
56,486 
56,486 
Net book value
At 30 June 2024
- 
17,254 
17,254 
At 30 June 2023
116,250 
13,062 
129,312 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
3,544 
1,324 
Trade debtors
26,427 
20,768 
Amounts due from group undertakings etc.
227,511 
- 
Accrued income and prepayments
16,233 
19,019 
Other debtors
346,468 
244,238 
620,183 
285,349 
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S.J. Sportscars Limited Notes to the Accounts for the year ended 30 June 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
142,039 
245,553 
Taxes and social security
65,154 
31,429 
Accruals
1,384 
1,384 
208,577 
278,366 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 8 (2023: 8).
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