REGISTERED NUMBER: 05382008 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2024 TO 28 FEBRUARY 2025

FOR

LLANDUDNO JUNCTION CAR CENTRE LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

3,280

Tangible assets

5

-

85,262

-

88,542

CURRENT ASSETS

Stocks

-

373,425

Debtors

6

97,151

9,104

Cash at bank and in hand

30,622

27,142

127,773

409,671

CREDITORS

Amounts falling due within one year

7

29,671

124,264

NET CURRENT ASSETS

98,102

285,407

TOTAL ASSETS LESS CURRENT LIABILITIES

98,102

373,949

CREDITORS

Amounts falling due after more than one year

8

-

(50,834

)

PROVISIONS FOR LIABILITIES

-

(14,936

)

NET ASSETS

98,102

308,179

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

98,100

308,177

98,102

308,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2025 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:

Mrs A G Jones - Director

1.	STATUTORY INFORMATION

Llandudno Junction Car Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05382008

Registered office:

Glaslyn Ffordd Y Parc

Parc Menai

Bangor

Gwynedd

LL57 4FE

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents sales of motor vehicles, excluding value added tax.

Goodwill

Goodwill is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 25% on cost, 20% on reducing balance and 5% 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 period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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 commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful life.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Hire purchase commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful life.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 28 February 2025

65,600

AMORTISATION

At 1 April 2024

62,320

Charge for period

3,280

At 28 February 2025

65,600

NET BOOK VALUE

At 28 February 2025

-

At 31 March 2024

3,280

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

173,112

Disposals

(173,112

)

At 28 February 2025

-

DEPRECIATION

At 1 April 2024

87,850

Charge for period

15,089

Eliminated on disposal

(102,939

)

At 28 February 2025

-

NET BOOK VALUE

At 28 February 2025

-

At 31 March 2024

85,262

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

61,905

Disposals

(61,905

)

At 28 February 2025

-

DEPRECIATION

At 1 April 2024

12,381

Charge for period

8,254

Eliminated on disposal

(20,635

)

At 28 February 2025

-

NET BOOK VALUE

At 28 February 2025

-

At 31 March 2024

49,524

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

42,800

-

Other debtors

54,351

9,104

97,151

9,104

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

13,099

10,204

Hire purchase contracts (see note 9)

-

12,049

Trade creditors

5,626

7,949

Taxation and social security

101

38,494

Other creditors

10,845

55,568

29,671

124,264

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

12,235

Hire purchase contracts (see note 9)

-

38,599

-

50,834

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

-

12,049

Between one and five years

-

38,599

-

50,648

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

-

50,648

The bank overdraft is secured by a fixed and floating charge over all the company's assets and personal guarantees by the directors.Stock loan is secured by personal guarantees.