Kempshott Car Sales Limited 08219909 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is sale of second hand vehicles. Digita Accounts Production Advanced 6.30.9574.0 true 08219909 2023-10-01 2024-09-30 08219909 2024-09-30 08219909 core:CurrentFinancialInstruments 2024-09-30 08219909 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 08219909 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 08219909 core:OfficeEquipment 2024-09-30 08219909 bus:SmallEntities 2023-10-01 2024-09-30 08219909 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 08219909 bus:FilletedAccounts 2023-10-01 2024-09-30 08219909 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 08219909 bus:RegisteredOffice 2023-10-01 2024-09-30 08219909 bus:Director1 2023-10-01 2024-09-30 08219909 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08219909 core:LandBuildings 2023-10-01 2024-09-30 08219909 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08219909 core:OfficeEquipment 2023-10-01 2024-09-30 08219909 countries:EnglandWales 2023-10-01 2024-09-30 08219909 2023-09-30 08219909 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 08219909 core:OfficeEquipment 2023-09-30 08219909 2022-10-01 2023-09-30 08219909 2023-09-30 08219909 core:CurrentFinancialInstruments 2023-09-30 08219909 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 08219909 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 08219909 core:OfficeEquipment 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 08219909

Kempshott Car Sales Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Kempshott Car Sales Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Kempshott Car Sales Limited

(Registration number: 08219909)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

53,419

55,081

Current assets

 

Stocks

5

526,893

889,005

Debtors

6

542,750

402,561

Cash at bank and in hand

 

534,961

195,595

 

1,604,604

1,487,161

Creditors: Amounts falling due within one year

7

(522,280)

(582,098)

Net current assets

 

1,082,324

905,063

Total assets less current liabilities

 

1,135,743

960,144

Provisions for liabilities

(796)

(1,211)

Net assets

 

1,134,947

958,933

Capital and reserves

 

Called up share capital

1

1

Retained earnings

1,134,946

958,932

Shareholders' funds

 

1,134,947

958,933

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 22 May 2025
 

.........................................
C S Bye
Director

 

Kempshott Car Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of the sale of second hand cars. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Kempshott Car Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Asset class

Depreciation method and rate

Office equipment

25% per annum of net book value

Land and buildings

NIL

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

4

Tangible assets

Land and buildings
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

50,236

10,953

61,189

Disposals

-

(5,324)

(5,324)

At 30 September 2024

50,236

5,629

55,865

Depreciation

At 1 October 2023

-

6,108

6,108

Charge for the year

-

1,061

1,061

Eliminated on disposal

-

(4,723)

(4,723)

At 30 September 2024

-

2,446

2,446

Carrying amount

At 30 September 2024

50,236

3,183

53,419

At 30 September 2023

50,236

4,845

55,081

Included within the net book value of land and buildings above is £50,236 (2023 - £50,236) in respect of freehold land and buildings.
 

 

Kempshott Car Sales Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Stocks

2024
£

2023
£

Other inventories

526,893

889,005

6

Debtors

Current

2024
£

2023
£

Trade debtors

55,980

-

Other debtors

486,770

402,561

 

542,750

402,561

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to related parties

402,183

422,036

Taxation and social security

 

69,807

47,895

Other creditors

 

50,290

112,167

 

522,280

582,098