IRIS Accounts Production v24.3.2.46 05917947 Board of Directors 1.9.23 31.8.24 31.8.24 Motor Garage false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh059179472023-08-31059179472024-08-31059179472023-09-012024-08-31059179472022-08-31059179472022-09-012023-08-31059179472023-08-3105917947ns15:EnglandWales2023-09-012024-08-3105917947ns14:PoundSterling2023-09-012024-08-3105917947ns10:Director12023-09-012024-08-3105917947ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3105917947ns10:SmallEntities2023-09-012024-08-3105917947ns10:AuditExemptWithAccountantsReport2023-09-012024-08-3105917947ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3105917947ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3105917947ns10:FullAccounts2023-09-012024-08-3105917947ns10:Director22023-09-012024-08-3105917947ns10:CompanySecretary12023-09-012024-08-3105917947ns10:RegisteredOffice2023-09-012024-08-3105917947ns5:CurrentFinancialInstruments2024-08-3105917947ns5:CurrentFinancialInstruments2023-08-3105917947ns5:Non-currentFinancialInstruments2024-08-3105917947ns5:Non-currentFinancialInstruments2023-08-3105917947ns5:ShareCapital2024-08-3105917947ns5:ShareCapital2023-08-3105917947ns5:RetainedEarningsAccumulatedLosses2024-08-3105917947ns5:RetainedEarningsAccumulatedLosses2023-08-3105917947ns5:OwnedAssets2023-09-012024-08-3105917947ns5:OwnedAssets2022-09-012023-08-3105917947ns5:LandBuildings2023-08-3105917947ns5:PlantMachinery2023-08-3105917947ns5:MotorVehicles2023-08-3105917947ns5:LandBuildings2023-09-012024-08-3105917947ns5:PlantMachinery2023-09-012024-08-3105917947ns5:MotorVehicles2023-09-012024-08-3105917947ns5:LandBuildings2024-08-3105917947ns5:PlantMachinery2024-08-3105917947ns5:MotorVehicles2024-08-3105917947ns5:LandBuildings2023-08-3105917947ns5:PlantMachinery2023-08-3105917947ns5:MotorVehicles2023-08-3105917947ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3105917947ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3105917947ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-08-3105917947ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-08-31
REGISTERED NUMBER: 05917947 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 August 2024

for

Srs Motors Ltd

Srs Motors Ltd (Registered number: 05917947)






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




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Srs Motors Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: S Reed
Mrs J Reed





SECRETARY:





REGISTERED OFFICE: Unit 7-8 Grace Road
Industrial Estate
New Road
Sheerness
Kent
ME12 1HA





REGISTERED NUMBER: 05917947 (England and Wales)





ACCOUNTANTS: I.B.C.
Suite 1, Unit C3
Knights Park Industrial Estate
Knight Road
Rochester
Kent
ME2 2LS

Srs Motors Ltd (Registered number: 05917947)

Report of the Directors
for the Year Ended 31 August 2024

The directors present their report with the financial statements of the company for the year ended 31 August 2024.

DIRECTORS
S Reed has held office during the whole of the period from 1 September 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mrs J Reed - appointed 22 April 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S Reed - Director


21 March 2025

Srs Motors Ltd (Registered number: 05917947)

Income Statement
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   

TURNOVER 64,896 78,199

Cost of sales 50,945 53,937
GROSS PROFIT 13,951 24,262

Administrative expenses 32,531 56,203
(18,580 ) (31,941 )

Other operating income 34,662 29,463
OPERATING PROFIT/(LOSS) and
PROFIT/(LOSS) BEFORE TAXATION 16,082 (2,478 )

Tax on profit/(loss) 2,530 -
PROFIT/(LOSS) FOR THE FINANCIAL YEAR 13,552 (2,478 )

Srs Motors Ltd (Registered number: 05917947)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 381,645 387,195

CURRENT ASSETS
Debtors 6 1,403 -
Cash at bank 10,134 10,944
11,537 10,944
CREDITORS
Amounts falling due within one year 7 76,095 68,953
NET CURRENT LIABILITIES (64,558 ) (58,009 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

317,087

329,186

CREDITORS
Amounts falling due after more than one
year

8

296,458

322,109
NET ASSETS 20,629 7,077

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 20,529 6,977
SHAREHOLDERS' FUNDS 20,629 7,077

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





S Reed - Director


Srs Motors Ltd (Registered number: 05917947)

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

1. STATUTORY INFORMATION

Srs Motors 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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

31.8.24 31.8.23
£    £   
Depreciation - owned assets 5,550 2,733

Srs Motors Ltd (Registered number: 05917947)

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

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 September 2023
and 31 August 2024 364,995 33,822 12,500 411,317
DEPRECIATION
At 1 September 2023 - 18,653 5,469 24,122
Charge for year - 3,792 1,758 5,550
At 31 August 2024 - 22,445 7,227 29,672
NET BOOK VALUE
At 31 August 2024 364,995 11,377 5,273 381,645
At 31 August 2023 364,995 15,169 7,031 387,195

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 1,403 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors (1 ) -
Tax 2,530 -
VAT - 516
Directors' loan accounts 68,166 63,037
Accruals and deferred income 5,400 5,400
76,095 68,953

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans - 2-5 years 34,195 33,800
Property loan 262,263 288,309
296,458 322,109