Staniforths_Motor_Cycles_Wholesale_Limited_31_Dec_2024_companies_house_set_of

Staniforths Motor Cycles (Wholesale) Limited

Report to the board of directors on the preparation of the unaudited statutory financial statements of Staniforths Motor Cycles (Wholesale) Limited

Year ended

31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements

Staniforths Motor Cycles (Wholesale) Limited

for the year ended

31 December 2024

which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.

This report is made solely to the Board of Directors of

Staniforths Motor Cycles (Wholesale) Limited

, as a body. Our work has been undertaken solely to prepare for your approval the

financial statements

Staniforths Motor Cycles (Wholesale) Limited

and state those matters that we have agreed to state to the Board of Directors of

Staniforths Motor Cycles (Wholesale) Limited

, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than

Staniforths Motor Cycles (Wholesale) Limited

and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that

Staniforths Motor Cycles (Wholesale) Limited

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and loss of

Staniforths Motor Cycles (Wholesale) Limited

. You consider that

Staniforths Motor Cycles (Wholesale) Limited

is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Staniforths Motor Cycles (Wholesale) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Pivotal Business Services Limited

Chartered Certified Accountants

285 Dodworth Road

Barnsley

South Yorkshire

S70 6PF

United Kingdom

Date:

8 August 2025

Staniforths Motor Cycles (Wholesale) Limited

Statement of Financial Position

31 December 2024

		2024		2023
	Note	£		£
Fixed assets
Tangible assets	5	5,721		6,158
Current assets
Stocks		181,391		203,525
Debtors	6	54,164		62,008
Cash at bank and in hand		5,234		44,942
		240,789		310,475
Creditors: amounts falling due within one year	7	(100,933	)	(100,734	)
Net current assets		139,856		209,741
Total assets less current liabilities		145,577		215,899
Creditors: amounts falling due after more than one year	8	(5,285	)	(24,765	)
Net assets		140,292		191,134
Capital and reserves
Called up share capital		576		576
Profit and loss account		139,716		190,558
Shareholders funds		140,292		191,134

For the year ending

31 December 2024

, 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 financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

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.

These

financial statements

were approved by the board of directors and authorised for issue on

8 August 2025

, and are signed on behalf of the board by:

Mr N Ashmore

Director

Company registration number:

01144891

Staniforths Motor Cycles (Wholesale) Limited

Notes to the Financial Statements

Year ended

31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

182 Church Street

Ecclesfield

Sheffield

S35 9WG

, .

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery	10% reducing balance
Motor vehicles	25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was

(2023:

6.00

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 January 2024 and 31 December 2024	177,039
Depreciation
At 1 January 2024	170,881
Charge	437
At 31 December 2024	171,318
Carrying amount
At 31 December 2024	5,721
At 31 December 2023	6,158

6 Debtors

	2024	2023
	£	£
Trade debtors	53,985	61,824
Other debtors	179	184
	54,164	62,008

7 Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	19,490	18,451
Trade creditors	60,010	72,128
Taxation and social security	13,390	8,024
Other creditors	8,043	2,131
	100,933	100,734

8 Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans and overdrafts	5,285		24,765