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Company Registration No. 01221600 (England and Wales)
Tunbridge Wells Motors Limited Unaudited accounts for the year ended 31 December 2024
Tunbridge Wells Motors Limited Unaudited accounts Contents
Page
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Tunbridge Wells Motors Limited Company Information for the year ended 31 December 2024
Director
Dean Stoner
Secretary
Vivian Stoner
Company Number
01221600 (England and Wales)
Registered Office
Tunbridge Wells Hyundai Dowling Way Tunbridge Wells Kent TN2 3UY
Accountants
ASTON STEELE Aston House Cotchford Hill, Hartfield Sussex TN7 4HA
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Tunbridge Wells Motors Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
51,993 
61,475 
Current assets
Inventories
2,625,183 
1,296,827 
Debtors
1,624,560 
1,282,340 
Cash at bank and in hand
200,262 
720,246 
4,450,005 
3,299,413 
Creditors: amounts falling due within one year
(3,588,363)
(2,423,772)
Net current assets
861,642 
875,641 
Total assets less current liabilities
913,635 
937,116 
Provisions for liabilities
Deferred tax
(9,025)
(15,500)
Net assets
904,610 
921,616 
Capital and reserves
Called up share capital
12,500 
12,500 
Profit and loss account
892,110 
909,116 
Shareholders' funds
904,610 
921,616 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 April 2025 and were signed on its behalf by
Dean Stoner Director Company Registration No. 01221600
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Tunbridge Wells Motors Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Tunbridge Wells Motors Limited is a private company, limited by shares, registered in England and Wales, registration number 01221600. The registered office is Tunbridge Wells Hyundai, Dowling Way, Tunbridge Wells, Kent, TN2 3UY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Short Hold Lease written off over period of lease
Plant & machinery
20%
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tunbridge Wells Motors Limited Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2024
20,257 
127,155 
147,412 
Additions
- 
13,324 
13,324 
Disposals
- 
(7,355)
(7,355)
At 31 December 2024
20,257 
133,124 
153,381 
Depreciation
At 1 January 2024
14,294 
71,643 
85,937 
Charge for the year
957 
21,849 
22,806 
On disposals
- 
(7,355)
(7,355)
At 31 December 2024
15,251 
86,137 
101,388 
Net book value
At 31 December 2024
5,006 
46,987 
51,993 
At 31 December 2023
5,963 
55,512 
61,475 
5
Inventories
2024 
2023 
£ 
£ 
Finished goods
2,625,183 
1,296,827 
2,625,183 
1,296,827 
At 31st December 2024 Vehicles held on consignment, where title had not passed and are not included in the stock valuation, nor amounts due to trade creditors £3,196,193 (2023 £3,072,506)
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
41,260 
241,029 
Trade debtors
687,414 
418,939 
Accrued income and prepayments
39,934 
11,136 
Other debtors
855,952 
611,236 
1,624,560 
1,282,340 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
3,263,585 
2,388,194 
Taxes and social security
23,308 
27,278 
Other creditors
290,495 
- 
Accruals
10,975 
8,300 
3,588,363 
2,423,772 
Vehicles supplied on consignment, where title has not pasted, have not been included in the stock valuation nor in creditors falling due within one year 2023 £3,072,506 (2022 £1,649,347)
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Tunbridge Wells Motors Limited Notes to the Accounts for the year ended 31 December 2024
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
13,000 
15,500 
Tax losses carried forward
(3,975)
- 
9,025 
15,500 
2024 
2023 
£ 
£ 
Provision at start of year
15,500 
7,000 
(Credited)/charged to the profit and loss account
(6,475)
8,500 
Provision at end of year
9,025 
15,500 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
12,500 Ordinary A shares of £1 each
12,500 
12,500 
10
Contingent liabilities
On 18th February 2021 the company agreed an all assets debenture with Santander Consumer UK Limited in respect of any monies due
11
Average number of employees
During the year the average number of employees was 28 (2023: 28).
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