REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
Gold Motors Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
Gold Motors Limited |
Gold Motors Limited (Registered number: 04834570) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Gold Motors Limited |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Carlton House |
High Street |
Higham Ferrers |
Northamptonshire |
NN10 8BW |
Gold Motors Limited (Registered number: 04834570) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Gold Motors Limited (Registered number: 04834570) |
Balance Sheet - continued |
31 July 2024 |
The financial statements were approved by the director and authorised for issue on |
Gold Motors Limited (Registered number: 04834570) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Gold Motors Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Critical accounting judgements and key sources of estimation uncertainty |
A provision for warranty work is recognised by the company as an obligation at the balance sheet date. This is as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. Actual results may differ from the provision estimates. |
Turnover |
Turnover represents the total invoiced value of goods and services supplied by the company during the period, excluding value added tax and trade discounts. |
When the outcome of work on vehicle can be estimated reliably, turnover from the work done is recognised at the stage of completion. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Office equipment | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Debtors and creditors receivable / payable within one year |
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 in other administrative expenses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Gold Motors Limited (Registered number: 04834570) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Short | Plant and |
property | leasehold | machinery |
£ | £ | £ |
COST |
At 1 August 2023 |
Additions |
Disposals |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
Eliminated on disposal |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Fixtures |
and | Motor | Office |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Gold Motors Limited (Registered number: 04834570) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
5. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
31.7.24 | 31.7.23 |
£ | £ |
Cost brought forward | 617,474 | 302,994 |
Additions | - | 476,480 |
Disposals | (80,994 | ) | (162,000 | ) |
536,480 | 617,474 |
6. | DEBTORS |
31.7.24 | 31.7.23 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Directors' current accounts | 66,736 | - |
Prepayments |
Amounts falling due after more than one year: |
121 Maple Leaf Business Park |
122 Maple Leaf Business Park | 213,393 | 193,901 |
123 Maple Leaf Business Park | 212,919 | 193,498 |
124 Maple Leaf Business Park | 296,645 | 269,586 |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade creditors |
Corporation Tax |
Social security and other taxes |
Pension | 1,578 | 1,484 |
VAT | 39,839 | 102,959 |
Other creditors |
Net wages | 24,351 | 29,346 |
C Gillett Loan | 217 | 217 |
Credit card | 4,837 | - |
Directors' current accounts | - | 7,095 |
Accrued expenses |
Gold Motors Limited (Registered number: 04834570) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 31.7.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 10 |
90 Ordinary shares of £1 each were allotted and fully paid for |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023: |
31.7.24 | 31.7.23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |