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REGISTERED NUMBER: 05156991 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

LOWGATES MOTORS LTD.

LOWGATES MOTORS LTD. (REGISTERED NUMBER: 05156991)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LOWGATES MOTORS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mr M Hutchinson
Mr J Hutchinson





REGISTERED OFFICE: 56 Lowgates
Staveley
Chesterfield
Derbyshire
S43 3TU





REGISTERED NUMBER: 05156991 (England and Wales)





ACCOUNTANTS: Sutton McGrath Hartley Limited
5 Westbrook Court
Sharrowvale Road
Sheffield
S11 8YZ

LOWGATES MOTORS LTD. (REGISTERED NUMBER: 05156991)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 6,027 5,813

CURRENT ASSETS
Stocks 328,111 285,242
Debtors 5 565 -
Cash at bank and in hand 143,557 188,329
472,233 473,571
CREDITORS
Amounts falling due within one year 6 (394,707 ) (379,525 )
NET CURRENT ASSETS 77,526 94,046
TOTAL ASSETS LESS CURRENT LIABILITIES 83,553 99,859

CREDITORS
Amounts falling due after more than one year 7 (17,083 ) (27,083 )
NET ASSETS 66,470 72,776

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 66,370 72,676
SHAREHOLDERS' FUNDS 66,470 72,776

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

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

The directors acknowledge their 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.

LOWGATES MOTORS LTD. (REGISTERED NUMBER: 05156991)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 Board of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by:




Mr M Hutchinson - Director



Mr J Hutchinson - Director


LOWGATES MOTORS LTD. (REGISTERED NUMBER: 05156991)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Lowgates Motors 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 33% on reducing balance

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 statement of financial position date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

LOWGATES MOTORS LTD. (REGISTERED NUMBER: 05156991)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 26,203
Additions 1,199
At 31 October 2024 27,402
DEPRECIATION
At 1 November 2023 20,390
Charge for year 985
At 31 October 2024 21,375
NET BOOK VALUE
At 31 October 2024 6,027
At 31 October 2023 5,813

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 565 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,031 8,603
Trade creditors 10,171 424
Taxation and social security 39,150 37,399
Other creditors 337,355 333,099
394,707 379,525

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 17,083 27,083

LOWGATES MOTORS LTD. (REGISTERED NUMBER: 05156991)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1.00 100 100