Registered number
11119660
Naylor's Motor Services Limited
Filleted Accounts
31 December 2024
Naylor's Motor Services Limited
Profit and Loss Account
for the year ended 31 December 2024
2024 2023
£ £
Turnover 132,002 118,767
Cost of sales (36,110) (30,322)
Gross profit 95,892 88,445
Administrative expenses (70,444) (60,082)
Other operating income 50 39
Operating profit 25,498 28,402
Interest payable (1,306) (1,205)
Profit before taxation 24,192 27,197
Tax on profit (5,777) (1,351)
Profit for the financial year 18,415 25,846
Naylor's Motor Services Limited
Registered number: 11119660
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 50,001 50,001
Tangible assets 4 18,629 24,840
68,630 74,841
Current assets
Debtors 5 - 304
Cash at bank and in hand 50,532 39,896
50,532 40,200
Creditors: amounts falling due within one year 6 (68,010) (78,304)
Net current liabilities (17,478) (38,104)
Total assets less current liabilities 51,152 36,737
Creditors: amounts falling due after more than one year 7 (8,333) (12,333)
Net assets 42,819 24,404
Capital and reserves
Called up share capital 100 100
Profit and loss account 42,719 24,304
Shareholder's funds 42,819 24,404
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Lee Naylor
Director
Approved by the board on 2 June 2025
Naylor's Motor Services Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 50,001
At 31 December 2024 50,001
Amortisation
At 31 December 2024 -
Net book value
At 31 December 2024 50,001
At 31 December 2023 50,001
Goodwill is not currently being written off.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 16,812 25,090 41,902
At 31 December 2024 16,812 25,090 41,902
Depreciation
At 1 January 2024 10,262 6,800 17,062
Charge for the year 1,638 4,573 6,211
At 31 December 2024 11,900 11,373 23,273
Net book value
At 31 December 2024 4,912 13,717 18,629
At 31 December 2023 6,550 18,290 24,840
5 Debtors 2024 2023
£ £
Other debtors - 304
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 4,000 4,000
Taxation and social security costs 4,853 2,864
Other creditors 59,157 71,440
68,010 78,304
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 8,333 12,333
8 Related party transactions 2024 2023
£ £
Directors loan account
The director is a related party to the Company. At 31st December, the company owed the related party the following short term, interest free, unsecured loan repayable upon demand.
Amounts due to the related party 57,562 71,046
9 Other information
Naylor's Motor Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Holden House
Holden Road
Leigh
WN7 1EX
Naylor's Motor Services Limited 11119660 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2024 Mr Lee Naylor No description of principal activity 11119660 2023-01-01 2023-12-31 11119660 core:WithinOneYear 2023-12-31 11119660 core:AfterOneYear 2023-12-31 11119660 core:ShareCapital 2023-12-31 11119660 core:RetainedEarningsAccumulatedLosses 2023-12-31 11119660 2024-01-01 2024-12-31 11119660 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11119660 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11119660 bus:Director40 2024-01-01 2024-12-31 11119660 1 2024-01-01 2024-12-31 11119660 2 2024-01-01 2024-12-31 11119660 core:PlantMachinery 2024-01-01 2024-12-31 11119660 core:Vehicles 2024-01-01 2024-12-31 11119660 countries:England 2024-01-01 2024-12-31 11119660 bus:FRS102 2024-01-01 2024-12-31 11119660 bus:FilletedAccounts 2024-01-01 2024-12-31 11119660 2024-12-31 11119660 core:WithinOneYear 2024-12-31 11119660 core:AfterOneYear 2024-12-31 11119660 core:ShareCapital 2024-12-31 11119660 core:RetainedEarningsAccumulatedLosses 2024-12-31 11119660 core:Goodwill 2024-12-31 11119660 core:PlantMachinery 2024-12-31 11119660 core:Vehicles 2024-12-31 11119660 2023-12-31 11119660 core:Goodwill 2023-12-31 11119660 core:PlantMachinery 2023-12-31 11119660 core:Vehicles 2023-12-31 iso4217:GBP xbrli:pure