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REGISTERED NUMBER: 01043088 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Jermyn Motor Group Limited
Trading as
Jermyn & Sons

Jermyn Motor Group Limited (Registered number: 01043088)
Trading as Jermyn & Sons






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Jermyn Motor Group Limited
Trading as Jermyn & Sons

Company Information
for the Year Ended 30 June 2024







DIRECTORS: T F Jermyn
R Gatward





SECRETARY: R Gatward





REGISTERED OFFICE: First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU





BUSINESS ADDRESS: Claremont Road
Seaford
East Sussex
BN25 2AY





REGISTERED NUMBER: 01043088 (England and Wales)





ACCOUNTANTS: Deeks Evans Audit Services Limited
Chartered Accountants
First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU

Jermyn Motor Group Limited (Registered number: 01043088)
Trading as Jermyn & Sons

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,198,937 1,136,867

CURRENT ASSETS
Stocks 5 839,541 2,066,973
Debtors 6 174,693 300,022
Cash at bank and in hand 1,057 3,032
1,015,291 2,370,027
CREDITORS
Amounts falling due within one year 7 1,553,293 2,710,697
NET CURRENT LIABILITIES (538,002 ) (340,670 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

660,935

796,197

CREDITORS
Amounts falling due after more than one
year

8

(119,192

)

(112,657

)

PROVISIONS FOR LIABILITIES (28 ) (8,730 )
NET ASSETS 541,715 674,810

CAPITAL & RESERVES
Called up share capital 10 120,000 120,000
Revaluation reserve 11 600,936 600,936
Retained earnings 11 (179,221 ) (46,126 )
SHAREHOLDERS' FUNDS 541,715 674,810

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Jermyn Motor Group Limited (Registered number: 01043088)
Trading as Jermyn & Sons

Balance Sheet - continued
30 June 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





T F Jermyn - Director


Jermyn Motor Group Limited (Registered number: 01043088)
Trading as Jermyn & Sons

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Jermyn Motor Group 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 represents net invoiced sales of new and used motor vehicles, together with supply of parts and workshop services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - over the period of the lease
Plant & machinery - 20% on cost
Fixtures & fittings - 10% on cost
Motor vehicles - 20% on cost

Freehold buildings are depreciated at 2% on deemed cost. Annual transfers representing the difference between depreciating the freehold buildings on the revalued basis and historical cost basis are made from the revaluation reserve to the profit & loss account.

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 Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Jermyn Motor Group Limited (Registered number: 01043088)
Trading as Jermyn & Sons

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

The company operates two separate defined contribution pension schemes. The assets of the schemes are held and controlled by independently administered funds. The company does not contribute to the employees' stakeholders policy, but collects and passes on employee contributions. No contributions have been made to the money purchase scheme for directors since 1999 and there is no requirement or commitment to do so.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Freehold Long Plant &
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 July 2023 975,000 222,784 124,730
Additions - 85,591 36,957
At 30 June 2024 975,000 308,375 161,687
DEPRECIATION
At 1 July 2023 81,958 29,200 107,301
Charge for year 10,073 23,408 17,349
At 30 June 2024 92,031 52,608 124,650
NET BOOK VALUE
At 30 June 2024 882,969 255,767 37,037
At 30 June 2023 893,042 193,584 17,429

Fixtures Motor
& fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 74,202 35,550 1,432,266
Additions - - 122,548
At 30 June 2024 74,202 35,550 1,554,814
DEPRECIATION
At 1 July 2023 60,017 16,923 295,399
Charge for year 2,539 7,109 60,478
At 30 June 2024 62,556 24,032 355,877
NET BOOK VALUE
At 30 June 2024 11,646 11,518 1,198,937
At 30 June 2023 14,185 18,627 1,136,867

Included in cost or valuation of land and buildings is freehold land of £ 283,400 (2023 - £ 283,400 ) which is not depreciated.

Jermyn Motor Group Limited (Registered number: 01043088)
Trading as Jermyn & Sons

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2024 is represented by:

Freehold Long Plant &
property leasehold machinery
£    £    £   
Valuation in 2005 76,093 - -
Valuation in 2013 75,000 - -
Valuation in 2022 391,600 - -
Cost 432,307 308,375 161,687
975,000 308,375 161,687

Fixtures Motor
& fittings vehicles Totals
£    £    £   
Valuation in 2005 - - 76,093
Valuation in 2013 - - 75,000
Valuation in 2022 - - 391,600
Cost 74,202 35,550 1,012,121
74,202 35,550 1,554,814

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

2024 2023
£    £   
Cost 247,814 247,814
Aggregate depreciation 28,350 28,350

Value of land in freehold land and buildings 142,587 142,587

The freehold property was valued on an open market basis on 27 May 2022 by the directors .

5. STOCKS
2024 2023
£    £   
Parts & accessories 52,392 39,275
Vehicles 787,149 2,027,698
839,541 2,066,973

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 79,814 223,067
Other debtors 18,570 6,895
Prepayments & accrued income 76,309 70,060
174,693 300,022

Jermyn Motor Group Limited (Registered number: 01043088)
Trading as Jermyn & Sons

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans & overdrafts 247,256 120,555
Other loans 35,007 -
Trade creditors 241,616 212,746
Corporation tax - 18,206
Social security & other taxes 172,631 29,963
Other creditors 1,380 -
Stocking loans 809,456 2,271,384
Directors' current accounts 9,466 22,159
Accruals & deferred income 36,481 35,684
1,553,293 2,710,697

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loan repayable:
between two and five years 33,241 25,520
in more than five years 85,951 87,137
119,192 112,657

Amounts falling due in more than five years:

Repayable by instalments
in more than five years 85,951 87,137

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 204,659 92,075
Bank loans 161,789 141,137
Stocking loans 809,456 2,271,384
1,175,904 2,504,596

The bank loan and overdraft are secured by fixed and floating charges over the company's freehold property and other assets.

The stocking loans are secured by fixed and floating charges over the company's current assets.

The company has a commercial property rental lease for 10 years to 2033 against which a director has given a personal guarantee.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
120,000 Ordinary £1 120,000 120,000

Jermyn Motor Group Limited (Registered number: 01043088)
Trading as Jermyn & Sons

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2023 (46,126 ) 600,936 554,810
Deficit for the year (133,095 ) - (133,095 )
At 30 June 2024 (179,221 ) 600,936 421,715

12. ULTIMATE CONTROLLING PARTY

The controlling party is T F Jermyn.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Jermyn Motor Group Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jermyn Motor Group Limited for the year ended 30 June 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Jermyn Motor Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jermyn Motor Group Limited and state those matters that we have agreed to state to the Board of Directors of Jermyn Motor Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jermyn Motor Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jermyn Motor Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Jermyn Motor Group Limited. You consider that Jermyn Motor Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Jermyn Motor Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Deeks Evans Audit Services Limited
Chartered Accountants
First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU


26 March 2025