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Registered number: 12830865
Land Rovers Of Monmouthshire Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12830865
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,924 28,947
26,924 28,947
CURRENT ASSETS
Stocks 5 136,001 177,695
Debtors 6 80,896 75,705
Cash at bank and in hand 118,011 53,851
334,908 307,251
Creditors: Amounts Falling Due Within One Year 7 (149,524 ) (151,950 )
NET CURRENT ASSETS (LIABILITIES) 185,384 155,301
TOTAL ASSETS LESS CURRENT LIABILITIES 212,308 184,248
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,547 ) -
NET ASSETS 209,761 184,248
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 209,760 184,247
SHAREHOLDERS' FUNDS 209,761 184,248
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Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Duthie
Director
20 May 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Land Rovers Of Monmouthshire Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12830865 . The registered office is Penhow Film Studios, Penhow, Caldicot, NP26 3AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 21,673 15,300 695 347 38,015
Additions 299 - 5,379 357 6,035
As at 31 August 2024 21,972 15,300 6,074 704 44,050
Depreciation
As at 1 September 2023 7,667 956 293 152 9,068
Provided during the period 3,531 3,586 848 93 8,058
As at 31 August 2024 11,198 4,542 1,141 245 17,126
Net Book Value
As at 31 August 2024 10,774 10,758 4,933 459 26,924
As at 1 September 2023 14,006 14,344 402 195 28,947
5. Stocks
2024 2023
£ £
Materials 136,001 177,695
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,427 25,664
Other debtors 67,469 50,041
80,896 75,705
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 103,835 35,494
Other creditors 4,163 72,491
Taxation and social security 41,526 43,965
149,524 151,950
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Christopher Duthie (50,894 ) 76,673 (5,935 ) - 19,844
Amounts repaid to the company as below:
Expenses paid personal funds: £698
Director wages owed: £5,238
The above loan is unsecured and repayable on demand.  
Interest is charged at a rate of 2.25%.
The loan was repaid in full in May 2025.
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr C Duthie by virtue of his ownership of 100% of the issued share capital in the company.
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