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Company Registration No. 09509940 (England and Wales)
Hy Go Motor Company Limited Unaudited accounts for the year ended 31 December 2024
Hy Go Motor Company Limited Unaudited accounts Contents
Page
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Hy Go Motor Company Limited Company Information for the year ended 31 December 2024
Director
Dean Stoner
Secretary
Sarah Stoner
Company Number
09509940 (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
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Hy Go Motor Company Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
5,867 
9,617 
Tangible assets
516,285 
742,992 
522,152 
752,609 
Current assets
Debtors
444,310 
461,481 
Cash at bank and in hand
- 
41,495 
444,310 
502,976 
Creditors: amounts falling due within one year
(518,348)
(504,962)
Net current liabilities
(74,038)
(1,986)
Total assets less current liabilities
448,114 
750,623 
Creditors: amounts falling due after more than one year
(174,993)
(295,247)
Provisions for liabilities
Deferred tax
(79,600)
(73,200)
Net assets
193,521 
382,176 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
193,421 
382,076 
Shareholders' funds
193,521 
382,176 
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. 09509940
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Hy Go Motor Company Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Hy Go Motor Company Limited is a private company, limited by shares, registered in England and Wales, registration number 09509940. The registered office is Medway Hyundai London Road, Rainham, Gillingham, Kent, ME8 8PT.
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 Hire of Vehicles 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: Values are also adjusted to show market value of vehicles which are hired
Motor vehicles
4 Years Straight Line Basis
Fixtures & fittings
5 Years Straight Line Basis
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation.
Deferred taxation
Deferred tax arises as a result of tax allowances claimed on tangible assets in excess of depreciation provided, less any tax losses carried forward.
Leased assets
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.
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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Hy Go Motor Company Limited Notes to the Accounts for the year ended 31 December 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2024
25,000 
At 31 December 2024
25,000 
Amortisation
At 1 January 2024
15,383 
Charge for the year
3,750 
At 31 December 2024
19,133 
Net book value
At 31 December 2024
5,867 
At 31 December 2023
9,617 
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2024
1,550,378 
25,119 
1,575,497 
Additions
254,635 
- 
254,635 
Disposals
(358,072)
(755)
(358,827)
At 31 December 2024
1,446,941 
24,364 
1,471,305 
Depreciation
At 1 January 2024
821,386 
11,119 
832,505 
Charge for the year
243,718 
4,808 
248,526 
On disposals
(125,256)
(755)
(126,011)
At 31 December 2024
939,848 
15,172 
955,020 
Net book value
At 31 December 2024
507,093 
9,192 
516,285 
At 31 December 2023
728,992 
14,000 
742,992 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
443,627 
459,348 
Accrued income and prepayments
683 
2,133 
444,310 
461,481 
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Hy Go Motor Company Limited Notes to the Accounts for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
74,040 
20,000 
VAT
11,139 
28,540 
Obligations under finance leases and hire purchase contracts
291,749 
336,994 
Trade creditors
132,329 
43,397 
Taxes and social security
2,574 
2,340 
Other creditors
2,267 
704 
Accruals
4,250 
4,360 
Deferred income
- 
68,627 
518,348 
504,962 
Finance Leases are secured on the assets which they relate to
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
8,333 
- 
Obligations under finance leases and hire purchase contracts
166,660 
295,247 
174,993 
295,247 
Finance leases are secured on the assets which they relate to
9
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
125,534 
182,832 
Tax losses carried forward
(45,934)
(109,632)
79,600 
73,200 
2024 
2023 
£ 
£ 
Provision at start of year
73,200 
58,600 
Charged to the profit and loss account
6,400 
14,600 
Provision at end of year
79,600 
73,200 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
11
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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