18 17 Graham Goode (Motors) Limited 01243840 false 2024-03-01 2025-02-28 2025-02-28 The principal activity of the company is retailing motor spares and the servicing of motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true 01243840 2024-03-01 2025-02-28 01243840 2025-02-28 01243840 bus:OrdinaryShareClass1 2025-02-28 01243840 core:RetainedEarningsAccumulatedLosses 2025-02-28 01243840 core:ShareCapital 2025-02-28 01243840 core:CurrentFinancialInstruments 2025-02-28 01243840 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 01243840 core:LandBuildings 2025-02-28 01243840 core:MotorVehicles 2025-02-28 01243840 core:OtherPropertyPlantEquipment 2025-02-28 01243840 bus:SmallEntities 2024-03-01 2025-02-28 01243840 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 01243840 bus:FilletedAccounts 2024-03-01 2025-02-28 01243840 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 01243840 bus:RegisteredOffice 2024-03-01 2025-02-28 01243840 bus:CompanySecretaryDirector1 2024-03-01 2025-02-28 01243840 bus:Director1 2024-03-01 2025-02-28 01243840 bus:OrdinaryShareClass1 2024-03-01 2025-02-28 01243840 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 01243840 bus:Agent1 2024-03-01 2025-02-28 01243840 core:LandBuildings 2024-03-01 2025-02-28 01243840 core:MotorVehicles 2024-03-01 2025-02-28 01243840 core:OtherPropertyPlantEquipment 2024-03-01 2025-02-28 01243840 core:PlantMachinery 2024-03-01 2025-02-28 01243840 countries:EnglandWales 2024-03-01 2025-02-28 01243840 2024-02-29 01243840 core:LandBuildings 2024-02-29 01243840 core:MotorVehicles 2024-02-29 01243840 core:OtherPropertyPlantEquipment 2024-02-29 01243840 2023-03-01 2024-02-29 01243840 2024-02-29 01243840 bus:OrdinaryShareClass1 2024-02-29 01243840 core:RetainedEarningsAccumulatedLosses 2024-02-29 01243840 core:ShareCapital 2024-02-29 01243840 core:CurrentFinancialInstruments 2024-02-29 01243840 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 01243840 core:LandBuildings 2024-02-29 01243840 core:MotorVehicles 2024-02-29 01243840 core:OtherPropertyPlantEquipment 2024-02-29 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 01243840

Graham Goode (Motors) Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Graham Goode (Motors) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Graham Goode (Motors) Limited

Company Information

Directors

G D Goode

Mrs K J Goode

Company secretary

Mrs K J Goode

Registered office

Glen Hills Service Station
9 Lutterworth Road
Leicester
LE2 8PH

Accountants

David Harris Accountants Limited Trading as David Harris Chartered Accountants
The Stable Loft, Stoughton Grange
Gartree Road, Oadby
Leicester
LE2 2FB

 

Graham Goode (Motors) Limited

(Registration number: 01243840)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

49,272

44,533

Current assets

 

Stocks

5

440,514

457,358

Debtors

6

28,705

42,901

Cash at bank and in hand

 

66,126

63,600

 

535,345

563,859

Creditors: Amounts falling due within one year

7

(206,184)

(245,814)

Net current assets

 

329,161

318,045

Total assets less current liabilities

 

378,433

362,578

Provisions for liabilities

-

775

Net assets

 

378,433

363,353

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

378,333

363,253

Shareholders' funds

 

378,433

363,353

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 June 2025 and signed on its behalf by:
 

.........................................
G D Goode
Director

 

Graham Goode (Motors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Glen Hills Service Station
9 Lutterworth Road
Leicester
LE2 8PH

These financial statements were authorised for issue by the Board on 25 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Graham Goode (Motors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

10% straight line

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Graham Goode (Motors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2024 - 17).

 

Graham Goode (Motors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2024

13,421

76,399

534,610

624,430

Additions

-

20,833

3,694

24,527

Disposals

-

(14,604)

(4,960)

(19,564)

At 28 February 2025

13,421

82,628

533,344

629,393

Depreciation

At 1 March 2024

13,421

50,936

515,540

579,897

Charge for the year

-

11,573

3,415

14,988

Eliminated on disposal

-

(12,005)

(2,759)

(14,764)

At 28 February 2025

13,421

50,504

516,196

580,121

Carrying amount

At 28 February 2025

-

32,124

17,148

49,272

At 29 February 2024

-

25,463

19,070

44,533

5

Stocks

2025
£

2024
£

Other inventories

440,514

457,358

6

Debtors

Note

2025
£

2024
£

Trade debtors

 

15,286

25,002

Amounts owed by group undertakings and undertakings in which the company has a participating interest

11,949

11,949

Prepayments

 

1,470

4,950

Other debtors

 

-

1,000

 

28,705

42,901

7

Creditors

Creditors: amounts falling due within one year

 

Graham Goode (Motors) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

2025
£

2024
£

Due within one year

Trade creditors

153,325

188,761

Taxation and social security

40,227

40,850

Accruals and deferred income

9,529

10,757

Other creditors

3,103

5,446

206,184

245,814

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £50,000 (2024 - £50,000).