REGISTERED NUMBER: 04950090 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2024

for

Dayoak Motors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J W Jacobsen MBA

REGISTERED OFFICE:

Unit G1 Hastingwood Trading Estate

Harbet Road

London

N18 3HT

REGISTERED NUMBER:

04950090 (England and Wales)

ACCOUNTANTS:

Apple Accounting Services Ltd

Chartered Management Accountants

12b Sun Street

Waltham Abbey

Essex

EN9 1EE

FIXED ASSETS

Intangible assets

4

-

6,000

Tangible assets

5

334,751

302,808

334,751

308,808

CURRENT ASSETS

Stocks

4,992

7,420

Debtors

6

105,095

116,903

Cash at bank and in hand

2,243

17,145

112,330

141,468

CREDITORS

Amounts falling due within one year

7

194,977

195,115

NET CURRENT LIABILITIES

(82,647

)

(53,647

)

TOTAL ASSETS LESS CURRENT LIABILITIES

252,104

255,161

CREDITORS

Amounts falling due after more than one year

8

(72,385

)

(58,814

)

PROVISIONS FOR LIABILITIES

(71,524

)

(63,275

)

NET ASSETS

108,195

133,072

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

108,095

132,972

SHAREHOLDERS' FUNDS

108,195

133,072

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 30th September 2025 and were signed by:

J W Jacobsen MBA - Director

1.	STATUTORY INFORMATION

Dayoak 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

33% on cost and 25% on reducing balance

Motor vehicles

-

10% on reducing balance

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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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.

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 7 (2023 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2024

and 31st December 2024

160,000

AMORTISATION

At 1st January 2024

154,000

Charge for year

6,000

At 31st December 2024

160,000

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

6,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

426,335

Additions

80,760

Disposals

(13,255

)

At 31st December 2024

493,840

DEPRECIATION

At 1st January 2024

123,527

Charge for year

39,154

Eliminated on disposal

(3,592

)

At 31st December 2024

159,089

NET BOOK VALUE

At 31st December 2024

334,751

At 31st December 2023

302,808

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

Plant and

machinery

etc

£

COST

At 1st January 2024

191,945

Additions

80,760

Transfer to ownership

(45,600

)

Reclassification/transfer

13,725

At 31st December 2024

240,830

DEPRECIATION

At 1st January 2024

35,044

Charge for year

19,736

Transfer to ownership

(16,194

)

Reclassification/transfer

791

At 31st December 2024

39,377

NET BOOK VALUE

At 31st December 2024

201,453

At 31st December 2023

156,901

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

51,889

49,805

Other debtors

53,206

67,098

105,095

116,903

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

58,627

69,237

Hire purchase contracts

43,826

33,389

Trade creditors

8,048

11,487

Taxation and social security

16,257

25,441

Other creditors

68,219

55,561

194,977

195,115

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

4,416

14,810

Hire purchase contracts

67,969

44,004

72,385

58,814

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

48,230

59,097

The company's overdraft is secured by the bank by way of a fixed and floating charge over the company's assets.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2024 and 31st December 2023:

2024

2023

£

£

J W Jacobsen MBA

Balance outstanding at start of year

(7,978

)

(12,865

)

Amounts advanced

17,668

4,887

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,690

(7,978

)

11.	RELATED PARTY DISCLOSURES

12.	ULTIMATE CONTROLLING PARTY

The controlling party is J W Jacobsen MBA.