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REGISTERED NUMBER: 02945475 (England and Wales)















GREAT COATES MOTORS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024






GREAT COATES MOTORS LIMITED (REGISTERED NUMBER: 02945475)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


GREAT COATES MOTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTOR: A McCartney





SECRETARY: Mrs V Dowsing





REGISTERED OFFICE: Unit 4 Estate Rd No 5
South Humberside Industrial Est.
Grimsby
North East Lincolnshire
DN31 2TG





REGISTERED NUMBER: 02945475 (England and Wales)

GREAT COATES MOTORS LIMITED (REGISTERED NUMBER: 02945475)

BALANCE SHEET
31ST AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,060,896 6,771,580

CURRENT ASSETS
Stocks 128,259 221,263
Debtors 5 641,756 1,100,338
770,015 1,321,601
CREDITORS
Amounts falling due within one year 6 3,964,501 4,062,490
NET CURRENT LIABILITIES (3,194,486 ) (2,740,889 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,866,410

4,030,691

CREDITORS
Amounts falling due after more than one year 7 (3,553,233 ) (2,436,026 )

PROVISIONS FOR LIABILITIES (506,140 ) (575,446 )
NET ASSETS 807,037 1,019,219

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 8 72,929 72,929
Retained earnings 733,108 945,290
807,037 1,019,219

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

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

The director acknowledges his 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.

GREAT COATES MOTORS LIMITED (REGISTERED NUMBER: 02945475)

BALANCE SHEET - continued
31ST AUGUST 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 director and authorised for issue on 29th August 2025 and were signed by:





A McCartney - Director


GREAT COATES MOTORS LIMITED (REGISTERED NUMBER: 02945475)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024

1. STATUTORY INFORMATION

Great Coates Motors Limited 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.
Long leasehold - in accordance with the property
Plant & equipment - 10% on cost
Motor vehicles - 10% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 29 (2023 - 29 ) .

GREAT COATES MOTORS LIMITED (REGISTERED NUMBER: 02945475)

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

4. TANGIBLE FIXED ASSETS
Long Plant & Motor
leasehold equipment vehicles Totals
£    £    £    £   
COST
At 1st September 2023 1,135,804 471,685 7,381,210 8,988,699
Additions 84,500 - 3,607,987 3,692,487
Disposals - - (2,217,779 ) (2,217,779 )
At 31st August 2024 1,220,304 471,685 8,771,418 10,463,407
DEPRECIATION
At 1st September 2023 161,335 355,688 1,700,096 2,217,119
Charge for year 7,200 54,960 949,426 1,011,586
Eliminated on disposal - - (826,194 ) (826,194 )
At 31st August 2024 168,535 410,648 1,823,328 2,402,511
NET BOOK VALUE
At 31st August 2024 1,051,769 61,037 6,948,090 8,060,896
At 31st August 2023 974,469 115,997 5,681,114 6,771,580

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 624,901 610,047
Other debtors 16,855 490,291
641,756 1,100,338

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 319,527 314,421
Hire purchase contracts 2,420,847 2,420,847
Trade creditors 822,293 825,492
Taxation and social security 118,914 47,275
Other creditors 282,920 454,455
3,964,501 4,062,490

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans 105,000 165,000
Hire purchase contracts 3,448,233 2,271,026
3,553,233 2,436,026

GREAT COATES MOTORS LIMITED (REGISTERED NUMBER: 02945475)

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

8. RESERVES
Revaluation
reserve
£   
At 1st September 2023
and 31st August 2024 72,929