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E&M MOTOR FACTORS LIMITED

Registered Number
06632688
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

E&M MOTOR FACTORS LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

EVANS, Dafydd Edryd

Company Secretary

EVANS, Dafydd Edryd

Registered Address

C/O Patterson Jones & Evans 23 College Street
Lampeter
Ceredigion
SA48 7DY

Registered Number

06632688 (England and Wales)
E&M MOTOR FACTORS LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3257,332162,532
257,332162,532
Current assets
Stocks41,398,1671,220,132
Debtors925,450804,513
Cash at bank and on hand484,668580,021
2,808,2852,604,666
Creditors amounts falling due within one year5(838,753)(938,601)
Net current assets (liabilities)1,969,5321,666,065
Total assets less current liabilities2,226,8641,828,597
Provisions for liabilities6(61,775)(36,535)
Net assets2,165,0891,792,062
Capital and reserves
Called up share capital12,43812,438
Profit and loss account2,152,6511,779,624
Shareholders' funds2,165,0891,792,062
The financial statements were approved and authorised for issue by the Director on 18 March 2025, and are signed on its behalf by:
EVANS, Dafydd Edryd
Director
Registered Company No. 06632688
E&M MOTOR FACTORS LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
These financial statements have been prepared on a going concern basis.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year4436
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 July 23213,735200,150413,885
Additions46,889124,353171,242
Disposals-(29,520)(29,520)
At 30 June 24260,624294,983555,607
Depreciation and impairment
At 01 July 23141,238110,115251,353
Charge for year19,34433,67453,018
On disposals-(6,096)(6,096)
At 30 June 24160,582137,693298,275
Net book value
At 30 June 24100,042157,290257,332
At 30 June 2372,49790,035162,532
4.Stocks

2024

2023

££
Other stocks1,398,1671,220,132
Total1,398,1671,220,132
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables585,497634,379
Taxation and social security237,349238,210
Other creditors31217,919
Accrued liabilities and deferred income15,59548,093
Total838,753938,601
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)61,77536,535
Total61,77536,535
7.Related party transactions
As at the balance sheet date the company owed its directors £312 (2023: £240). No interest is charged and the amount is repayable in full on demand.