Company Registration No. 08319021 (England and Wales)
Stoner Motor Company Ltd
Unaudited Accounts
for the year ended 31 December 2024
Stoner Motor Company Ltd
Unaudited Accounts
Contents
Stoner Motor Company Ltd
Company Information
for the year ended 31 December 2024
Director
Dean Leslie Stoner
Secretary
Sarah Emma Stoner
Company Number
08319021 (England and Wales)
Registered Office
Medway Hyundai London Road
Rainham
Gillingham
Kent
ME8 8PT
Accountants
ASTON STEELE
Aston House
Cotchford Hill,
Hartfield
Sussex
TN7 4HA
Stoner Motor Company Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
287,623
154,685
Inventories
3,576,187
2,413,843
Debtors
1,378,627
1,351,737
Cash at bank and in hand
261,056
488,365
Creditors: amounts falling due within one year
(4,591,730)
(3,556,792)
Net current assets
624,140
697,153
Total assets less current liabilities
911,763
851,838
Provisions for liabilities
Deferred tax
(52,800)
(16,000)
Net assets
858,963
835,838
Called up share capital
100
100
Profit and loss account
858,863
835,738
Shareholders' funds
858,963
835,838
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 Leslie Stoner
Director
Company Registration No. 08319021
Stoner Motor Company Ltd
Notes to the Accounts
for the year ended 31 December 2024
Stoner Motor Company Ltd is a private company, limited by shares, registered in England and Wales, registration number 08319021. The registered office is Medway Hyundai London Road, Rainham, Gillingham, Kent, ME8 8PT.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
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.
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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Stoner Motor Company Ltd
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
208,596
26,892
88,335
323,823
Additions
-
39,380
171,961
211,341
At 31 December 2024
208,596
66,272
260,296
535,164
At 1 January 2024
117,959
13,489
37,690
169,138
Charge for the year
13,907
12,588
51,908
78,403
At 31 December 2024
131,866
26,077
89,598
247,541
At 31 December 2024
76,730
40,195
170,698
287,623
At 31 December 2023
90,637
13,403
50,645
154,685
The company have purchased a 50% Interest in Tunbridge Wells Motors Limited
Finished goods
3,576,187
2,413,843
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 £1,986,797 (2023 £1,555,365)
Amounts falling due within one year
Trade debtors
654,239
295,366
Accrued income and prepayments
48,411
29,924
Other debtors
426,000
411,000
Stoner Motor Company Ltd
Notes to the Accounts
for the year ended 31 December 2024
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
1,366,088
792,567
Trade creditors
2,789,055
2,306,809
Taxes and social security
25,737
47,016
Other creditors
396,000
396,000
Loans from directors
8,000
8,000
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 £1,555,365 (2022 £975,007)
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Average number of employees
During the year the average number of employees was 24 (2023: 23).