UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
FOR |
ST CHRISTOPHERS BOURNEMOUTH LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
FOR |
ST CHRISTOPHERS BOURNEMOUTH LIMITED |
ST CHRISTOPHERS BOURNEMOUTH LIMITED (REGISTERED NUMBER: 08070984) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Period 1 January 2023 to 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ST CHRISTOPHERS BOURNEMOUTH LIMITED |
COMPANY INFORMATION |
For The Period 1 January 2023 to 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ST CHRISTOPHERS BOURNEMOUTH LIMITED (REGISTERED NUMBER: 08070984) |
BALANCE SHEET |
30 June 2024 |
2024 | 2022 |
Notes | £ | £ |
ASSETS |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
465,616 | 605,570 |
CAPITAL, RESERVES AND LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
CREDITORS |
Amounts falling due within one year | 9 |
Amounts falling due after more than one year | 10 |
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 were approved by the Board of Directors and authorised for issue on |
ST CHRISTOPHERS BOURNEMOUTH LIMITED (REGISTERED NUMBER: 08070984) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Period 1 January 2023 to 30 June 2024 |
1. | STATUTORY INFORMATION |
St Christophers Bournemouth Limited is a |
2. | ACCOUNTING POLICIES |
Fundamental accounting concept |
The company meets its day to day working capital requirements through bank and other loans. It is therefore reliant on the continued financial support from those creditors for the foreseeable future. |
On this basis it is appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal from financial support. |
Changes in reporting period |
These financial statements cover an eighteen-month accounting period 1st January 2023 to 30th June 2024. The accounting period was extended following the cessation of the car sales division. The comparatives within these financial statements represent the results for the twelve months ended 31 December 2022 and are therefore not entirely comparable. |
Turnover |
Turnover represents net invoiced sales value of vehicle sales and garage services. |
Goodwill |
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 10 years from the transition date to FRS 102. Provision is made for any impairment. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Motor vehicles | - |
Website | - |
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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Financial instruments |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured as amortised cost using the effective interest rate method, less impairment. |
Taxation |
Taxation for the period 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. |
ST CHRISTOPHERS BOURNEMOUTH LIMITED (REGISTERED NUMBER: 08070984) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 January 2023 to 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
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 period 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 period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2023 |
and 30 June 2024 |
AMORTISATION |
At 1 January 2023 |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Short | Plant and | Motor |
leasehold | machinery | vehicles | Website | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 31 December 2022 |
ST CHRISTOPHERS BOURNEMOUTH LIMITED (REGISTERED NUMBER: 08070984) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 January 2023 to 30 June 2024 |
6. | STOCKS |
2024 | 2022 |
£ | £ |
Parts stock |
Vehicle stock |
Work-in-progress |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
Prepayments and other debtors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2022 |
value: | £ | £ |
Ordinary | £1 | 410,000 | 410,000 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts |
Other creditors |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2022 |
£ | £ |
Bank overdrafts |
Vehicle stocking loan | - | 214,813 |
The overdraft facility is secured by a debenture with a fixed and floating charge over all of the company's assets. |
ST CHRISTOPHERS BOURNEMOUTH LIMITED (REGISTERED NUMBER: 08070984) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 January 2023 to 30 June 2024 |
12. | OTHER FINANCIAL COMMITMENTS |
Total commitments under operating leases amounted to £360,000 as at 30 June 2024(202:£118,750). |