Company registration number: 13808894
Unaudited financial statements
for the year ended 31 December 2024
for
Sephton Motors Limited
Pages for filing with the Registrar
Company registration number: 13808894
Sephton Motors Limited
Balance sheet
as at 31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 4 17,220 19,680
Tangible assets 5 44,299 44,771
61,519 64,451
Current assets
Debtors 847 566
Cash at bank and in hand 46,265 46,283
47,112 46,849
Creditors: amounts falling due within one
year
(58,956) (69,751)
Net current liabilities (11,844) (22,902)
Total assets less current liabilities 49,675 41,549
Creditors: Amounts falling due after more
than one year
(8,630) (14,944)
Provisions for liabilities (11,216) -
NET ASSETS 29,829 26,605
Capital and reserves
Called up share capital 4 4
Profit and loss account 29,825 26,601
TOTAL EQUITY 29,829 26,605
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 13808894
Sephton Motors Limited
Balance sheet - continued
as at 31 December 2024
The 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 17 June 2025 and signed on its behalf by:
Mr A SEPHTON, Director
17 June 2025
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Sephton Motors Limited
Notes to the financial statements
for the year ended 31 December 2024
1 Company information
Sephton Motors Limited is a private company registered in England and Wales. Its registered number is 13808894. The company is limited by shares. Its registered office is Sephton Motors, Lingdale Road, Prenton, Merseyside, CH43 8TE.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill - 10% straight line
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and Machinery - 10% straight line
Fixtures & Fittings - 10% straight line
Motor Vehicles - 33% reducing balance
Computer Equipment - 33% reducing balance
3
Sephton Motors Limited
Notes to the financial statements - continued
for the year ended 31 December 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that been enacted or substantively enacted by the balance sheet date and 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
3 Average number of employees
During the year the average number of employees was 2 (2023 - 2).
4 Intangible assets
Goodwill
£
Cost
At 1 January 2024 24,600
At 31 December 2024 24,600
4
Sephton Motors Limited
Notes to the financial statements - continued
for the year ended 31 December 2024
4 Intangible assets - continued
Amortisation
At 1 January 2024 4,920
Charge for year 2,460
At 31 December 2024 7,380
Net book value
At 31 December 2024 17,220
At 31 December 2023 19,680
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 January 2024 62,006
Additions 6,260
At 31 December 2024 68,266
Depreciation
At 1 January 2024 17,235
Charge for year 6,732
At 31 December 2024 23,967
Net book value
At 31 December 2024 44,299
At 31 December 2023 44,771
5
Sephton Motors Limited
Notes to the financial statements - continued
for the year ended 31 December 2024
6 Advances, credit and guarantees granted to directors
The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023.
2024 2023
£ £
Andrew Sephton
Balance outstanding at start of year (21,281) (32,628)
Amounts advanced 18,600 24,917
Amounts repaid (13,064) (13,570)
Balance outstanding at end of year (15,745) (21,281)
2024 2023
£ £
Gareth Sephton
Balance outstanding at start of year (39,631) -
Amounts advanced 23,568 -
Amounts repaid (13,978) -
Balance outstanding at end of year (30,041) -
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