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REGISTERED NUMBER: 09785754 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Severnside Car Company Ltd

Severnside Car Company Ltd (Registered number: 09785754)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Severnside Car Company Ltd

Company Information
for the Year Ended 31 October 2024







Directors: C V Smith
Mrs S C Smith





Registered office: 39 Cardiff Road
Llandaff
Cardiff
South Glamorgan
CF5 2DP





Registered number: 09785754 (England and Wales)





Accountants: BYB Accountancy Ltd
Incorporated Financial Accountants
39 Cardiff Road
Llandaff
Cardiff
South Glamorgan
CF5 2DP

Severnside Car Company Ltd (Registered number: 09785754)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 105,525 89,680

Current assets
Stocks 216,827 324,531
Debtors 5 77,404 25,225
Cash at bank and in hand 281,086 138,416
575,317 488,172
Creditors
Amounts falling due within one year 6 272,989 99,966
Net current assets 302,328 388,206
Total assets less current liabilities 407,853 477,886

Creditors
Amounts falling due after more than one
year

7

186,784

217,208
Net assets 221,069 260,678

Capital and reserves
Called up share capital 100 100
Retained earnings 220,969 260,578
221,069 260,678

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.

Severnside Car Company Ltd (Registered number: 09785754)

Balance Sheet - 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 8 July 2025 and were signed on its behalf by:




C V Smith - Director



Mrs S C Smith - Director


Severnside Car Company Ltd (Registered number: 09785754)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Severnside Car 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.

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.
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on 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.

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 6 (2023 - 6 ) .

Severnside Car Company Ltd (Registered number: 09785754)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 November 2023 595 44,250 78,623 5,835 129,303
Additions - 18,275 29,163 2,473 49,911
At 31 October 2024 595 62,525 107,786 8,308 179,214
Depreciation
At 1 November 2023 595 24,900 9,369 4,759 39,623
Charge for year - 10,633 22,567 866 34,066
At 31 October 2024 595 35,533 31,936 5,625 73,689
Net book value
At 31 October 2024 - 26,992 75,850 2,683 105,525
At 31 October 2023 - 19,350 69,254 1,076 89,680

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 77,404 25,225

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,972 20,972
Hire purchase contracts 26,691 15,635
Trade creditors 154,521 18,086
Taxation and social security 30,116 26,283
Other creditors 40,689 18,990
272,989 99,966

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 120,792 150,558
Hire purchase contracts 65,992 66,650
186,784 217,208