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Registered Number: 02136174
England and Wales

 

 

 

DIRECT 2-U MOTORS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director Mr J Deacey
Registered Number 02136174
Registered Office 101 Wellington Road
Leeds
LS12 1DX
Accountants UWM Accountants Limited
UWM House
6 Fusion Court
Leeds
LS25 2GH
Secretary Mr J Deacey
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 85,614    114,151 
85,614    114,151 
Current assets      
Stocks 4 310,000    300,000 
Debtors 5 263,928    229,656 
Cash at bank and in hand (67,415)   (96,808)
506,513    432,848 
Creditors: amount falling due within one year (421,361)   (456,775)
Net current assets 85,152    (23,927)
 
Total assets less current liabilities 170,766    90,224 
Creditors: amount falling due after more than one year (8,412)   (18,466)
Provisions for liabilities 6 5,977    270 
Net assets 168,331    72,028 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 168,231    71,928 
Shareholders' funds 168,331    72,028 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 14 April 2025 and were signed by:


-------------------------------
Mr J Deacey
Director
2
General Information
DIRECT 2-U MOTORS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02136174, registration address 101 Wellington Road, Leeds, LS12 1DX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 25% RB
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 21 (2023 : 23).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 September 2023 493,012    493,012 
Additions  
Disposals  
At 31 August 2024 493,012    493,012 
Depreciation
At 01 September 2023 378,861    378,861 
Charge for year 28,537    28,537 
On disposals  
At 31 August 2024 407,398    407,398 
Net book values
Closing balance as at 31 August 2024 85,614    85,614 
Opening balance as at 01 September 2023 114,151    114,151 


4.

Stocks

2024
£
  2023
£
Stocks 310,000    300,000 
310,000    300,000 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 98,830    88,434 
Other Debtors 165,098    141,222 
263,928    229,656 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax (5,977)   (270)
(5,977)   (270)

3