Registered number
10288636
Nathan Hunt Cars Limited
Filleted Accounts
30 June 2024
Nathan Hunt Cars Limited
Registered number: 10288636
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 80,148 66,873
Current assets
Stocks 1,129,144 1,433,877
Debtors 4 329,056 140,661
Cash at bank and in hand 42,519 131,693
1,500,719 1,706,231
Creditors: amounts falling due within one year 5 (419,098) (387,729)
Net current assets 1,081,621 1,318,502
Total assets less current liabilities 1,161,769 1,385,375
Creditors: amounts falling due after more than one year 6 (742,098) (988,100)
Net assets 419,671 397,275
Capital and reserves
Called up share capital 40,100 40,100
Revaluation reserve 7 5,000 5,000
Profit and loss account 374,571 352,175
Shareholders' funds 419,671 397,275
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.
N Hunt
Director
Approved by the board on 30 June 2025
Nathan Hunt Cars Limited
Notes to the Accounts
for the year ended 30 June 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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.
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 5 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2023 4,973 77,038 82,011
Additions 15,027 5,067 20,094
At 30 June 2024 20,000 82,105 102,105
Depreciation
At 1 July 2023 994 14,144 15,138
Charge for the year 1,000 5,819 6,819
At 30 June 2024 1,994 19,963 21,957
Net book value
At 30 June 2024 18,006 62,142 80,148
At 30 June 2023 3,979 62,894 66,873
4 Debtors 2024 2023
£ £
Trade debtors 131,580 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 175,680 138,861
Other debtors 21,796 1,800
329,056 140,661
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 39,965 37,768
Trade creditors 133,846 124,607
Taxation and social security costs 241,787 205,745
Other creditors 3,500 19,609
419,098 387,729
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 114,666 154,631
Other creditors 627,432 833,469
742,098 988,100
7 Revaluation reserve 2024 2023
£ £
At 1 July 2023 5,000 5,000
At 30 June 2024 5,000 5,000
8 Other information
Nathan Hunt Cars Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 23 Rushy Platt Ind Est
Caen View
Swindon
Wilts
SN5 8WQ
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