Registered number
04539946
West Surrey Motorcycles Limited
Filleted Accounts
30 September 2024
West Surrey Motorcycles Limited
Registered number: 04539946
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,144 11,677
Current assets
Stocks 80,700 123,100
Debtors 4 - 37
Cash at bank and in hand 8,076 7,027
88,776 130,164
Creditors: amounts falling due within one year 5 (20,060) (28,399)
Net current assets 68,716 101,765
Total assets less current liabilities 78,860 113,442
Creditors: amounts falling due after more than one year 6 (9,167) (14,221)
Net assets 69,693 99,221
Capital and reserves
Called up share capital 1 1
Profit and loss account 69,692 99,220
Shareholders' funds 69,693 99,221
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
J Lauder
Director
Approved by the board on 19 June 2025
West Surrey Motorcycles Limited
Notes to the Accounts
for the year ended 30 September 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.
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:
Plant and machinery 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 5,266 54,561 59,827
Additions 358 9,740 10,098
Disposals - (11,000) (11,000)
At 30 September 2024 5,624 53,301 58,925
Depreciation
At 1 October 2023 4,171 43,979 48,150
Charge for the year 363 3,018 3,381
On disposals - (2,750) (2,750)
At 30 September 2024 4,534 44,247 48,781
Net book value
At 30 September 2024 1,090 9,054 10,144
At 30 September 2023 1,095 10,582 11,677
4 Debtors 2024 2023
£ £
Other debtors - 37
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs (764) 866
Directors Loan Account 17,816 19,062
Accruals 650 650
Other creditors 2,358 7,821
20,060 28,399
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,167 14,221
7 Other information
West Surrey Motorcycles Limited is a private company limited by shares and incorporated in England. Its registered office is:
Raydean House
15 Western Parade
Barnet
Herts
EN5 1AH
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