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FIVE SQUARE MOTORS LIMITED

Registered Number
00835567
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

FIVE SQUARE MOTORS LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

MOWBRAY, Barry Michael
MOWBRAY, Steven Terence

Registered Address

Salisbury Road
Shaftesbury
Dorset
SP7 8BU

Registered Number

00835567 (England and Wales)
FIVE SQUARE MOTORS LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets578,328602,450
578,328602,450
Current assets
Stocks13,12317,855
Debtors25,08525,311
Cash at bank and on hand14,2999,893
52,50753,059
Creditors amounts falling due within one year(124,551)(132,803)
Net current assets (liabilities)(72,044)(79,744)
Total assets less current liabilities506,284522,706
Creditors amounts falling due after one year(27,003)(27,003)
Provisions for liabilities(3,294)(7,464)
Net assets475,987488,239
Capital and reserves
Called up share capital3,0003,000
Revaluation reserve453,916460,266
Profit and loss account19,07124,973
Shareholders' funds475,987488,239
The financial statements were approved and authorised for issue by the Board of Directors on 24 June 2025, and are signed on its behalf by:
MOWBRAY, Barry Michael
Director
MOWBRAY, Steven Terence
Director

Registered Company No. 00835567
FIVE SQUARE MOTORS LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other 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.
Trade and other 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.
2.Average number of employees
The average number of persons employed by the company (including directors) during the year was 7 (2023 - 6)

20242023
Average number of employees during the year76
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.