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REGISTERED NUMBER: 02745606 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

AMBASSADOR MOTOR COMPANY LTD

AMBASSADOR MOTOR COMPANY LTD (REGISTERED NUMBER: 02745606)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AMBASSADOR MOTOR COMPANY LTD

COMPANY INFORMATION
for the Year Ended 31 August 2024







DIRECTOR: Mrs S Skelland





REGISTERED OFFICE: Parkway Avenue
Broadoaks
Sheffield
S9 3BJ





REGISTERED NUMBER: 02745606 (England and Wales)





ACCOUNTANTS: Beeley Hawley & Co. Ltd
Chartered Accountants
42-44 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BL

AMBASSADOR MOTOR COMPANY LTD (REGISTERED NUMBER: 02745606)

BALANCE SHEET
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,144,202 1,263,762
Investments 5 145,426 145,426
1,289,628 1,409,188

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 6 839,854 1,095,426
Cash at bank and in hand 1,017,713 433,381
1,862,567 1,533,807
CREDITORS
Amounts falling due within one year 7 1,124,811 1,228,721
NET CURRENT ASSETS 737,756 305,086
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,027,384

1,714,274

CREDITORS
Amounts falling due after more than one
year

8

(125,479

)

(302,338

)

PROVISIONS FOR LIABILITIES (268,355 ) (304,277 )
NET ASSETS 1,633,550 1,107,659

CAPITAL AND RESERVES
Called up share capital 129 129
Capital redemption reserve 162 162
Retained earnings 1,633,259 1,107,368
SHAREHOLDERS' FUNDS 1,633,550 1,107,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

AMBASSADOR MOTOR COMPANY LTD (REGISTERED NUMBER: 02745606)

BALANCE SHEET - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 June 2025 and were signed by:





Mrs S Skelland - Director


AMBASSADOR MOTOR COMPANY LTD (REGISTERED NUMBER: 02745606)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Ambassador Motor Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Ambassador Motor Company Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

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.
Land and buildings - 10% on cost
Plant and machinery etc - 20% on reducing balance and 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 tax
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 have been enacted or substantively enacted by the year end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

AMBASSADOR MOTOR COMPANY LTD (REGISTERED NUMBER: 02745606)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are recognised on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company pays pension contributions on behalf of its director and certain staff. Contributions payable are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 95,236 40,845 162,629 2,034,066 2,332,776
Additions 19,835 10,460 33,392 75,600 139,287
At 31 August 2024 115,071 51,305 196,021 2,109,666 2,472,063
DEPRECIATION
At 1 September 2023 30,930 13,141 78,130 946,813 1,069,014
Charge for year 13,360 4,680 13,552 227,255 258,847
At 31 August 2024 44,290 17,821 91,682 1,174,068 1,327,861
NET BOOK VALUE
At 31 August 2024 70,781 33,484 104,339 935,598 1,144,202
At 31 August 2023 64,306 27,704 84,499 1,087,253 1,263,762

The net book value of tangible fixed assets includes £501,415 (2023: £801,537) in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £125,354 (2023: £181,197) for the year.

AMBASSADOR MOTOR COMPANY LTD (REGISTERED NUMBER: 02745606)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 145,426
NET BOOK VALUE
At 31 August 2024 145,426
At 31 August 2023 145,426

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 807,107 1,081,625
Other debtors 32,747 13,801
839,854 1,095,426

The majority of debts included in trade debtors are subject to an invoice discounting agreement.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 176,859 248,191
Trade creditors 253,999 453,975
Amounts owed to group undertakings 84,753 84,753
Tax 277,787 214,490
Social security and other taxes 211,993 123,492
Other creditors 51,034 47,763
Accrued expenses 68,386 56,057
1,124,811 1,228,721

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 125,479 302,338

AMBASSADOR MOTOR COMPANY LTD (REGISTERED NUMBER: 02745606)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 176,859 248,191
Between one and five years 125,479 302,338
302,338 550,529

Non-cancellable operating leases
2024 2023
£    £   
Within one year 133,333 113,333
Between one and five years 700,000 693,333
In more than five years 326,667 466,667
1,160,000 1,273,333

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 302,338 550,529

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Mrs S Skelland
Balance outstanding at start of year 13,254 1,645
Amounts advanced - 11,609
Amounts repaid (13,254 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 13,254

12. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption conferred by Section 1A of FRS 102, to not disclose transactions entered into between two or more members of a group, provided that any subsidiary party to the transaction is wholly owned by such a member.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs S Skelland.