REGISTERED NUMBER: 01445610 (England and Wales)

Unaudited Financial Statements

For The Year Ended 30 December 2024

for

P.J. Motor Services (Kingsbridge)

Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

6,059

8,078

Investment property

5

745,000

745,000

751,059

753,078

CURRENT ASSETS

Debtors

6

108,123

66,695

Cash at bank

20,697

53,052

128,820

119,747

CREDITORS

Amounts falling due within one year

7

7,154

5,781

NET CURRENT ASSETS

121,666

113,966

TOTAL ASSETS LESS CURRENT LIABILITIES

872,725

867,044

PROVISIONS FOR LIABILITIES

127,725

125,861

NET ASSETS

745,000

741,183

CAPITAL AND RESERVES

Called up share capital

400

400

Profit and loss account - non distributable

427,162

427,162

Retained earnings

317,438

313,621

SHAREHOLDERS' FUNDS

745,000

741,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 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.

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 29 September 2025 and were signed on its behalf by:

P J Trembath - Director

1.	STATUTORY INFORMATION

P.J. Motor Services (Kingsbridge) 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:

01445610

Registered office:

Quay Auto Centre

Union Road

Kingsbridge

Devon

TQ7 1EQ

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 as modified by the revaluation of certain assets.

Turnover

Rental income is recognised on the accruals basis in respect of the period to which it relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 31 December 2023

and 30 December 2024

20,118

DEPRECIATION

At 31 December 2023

12,040

Charge for year

2,019

At 30 December 2024

14,059

NET BOOK VALUE

At 30 December 2024

6,059

At 30 December 2023

8,078

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 31 December 2023

and 30 December 2024

745,000

NET BOOK VALUE

At 30 December 2024

745,000

At 30 December 2023

745,000

Fair value at 30 December 2024 is represented by:

£

Valuation in 2012

600,000

Valuation in 2013

10,724

Valuation in 2014

3,530

Valuation in 2015

5,972

Valuation in 2016

2,425

Valuation in 2017

47,349

Valuation in 2019

(20,000

)

Valuation in 2023

95,000

745,000

If the investment property had not been revalued it would have been included at the following historical cost:

30.12.24

30.12.23

£

£

Cost

190,962

190,962

The Investment property was valued on an open market basis on 19 June 2023 by Luscombe Maye Estate Agents .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.24

30.12.23

£

£

Other debtors

108,123

66,695

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.24

30.12.23

£

£

Taxation and social security

5,078

4,184

Other creditors

2,076

1,597

7,154

5,781

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 December 2024 and the period ended 30 December 2023:

30.12.24

30.12.23

£

£

P J Trembath

Balance outstanding at start of year

12,396

-

Amounts advanced

4,149

12,396

Amounts repaid

(1,500

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,045

12,396

Interest is charged on this loan at the official rate and this loan is repayable on demand