REGISTERED NUMBER: 00712639 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Wrights (Motors) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G J Wright

SECRETARY:

Mrs A Wythe

REGISTERED OFFICE:

Holdan House

Church Road

Burgh Castle

Great Yarmouth

NR31 9QG

REGISTERED NUMBER:

00712639 (England and Wales)

ACCOUNTANTS:

CUNNINGHAMS

Number Sixty One

Alexandra Road

Lowestoft

Suffolk

NR32 1PL

FIXED ASSETS

Tangible assets

3

181,215

203,411

CURRENT ASSETS

Stocks

230,000

431,698

Debtors

226,748

280,121

Cash at bank and in hand

35,840

123,754

492,588

835,573

CREDITORS

Amounts falling due within one year

33,620

35,683

NET CURRENT ASSETS

458,968

799,890

TOTAL ASSETS LESS CURRENT LIABILITIES

640,183

1,003,301

PROVISIONS FOR LIABILITIES

1,899

6,051

NET ASSETS

638,284

997,250

CAPITAL AND RESERVES

Called up share capital

500

500

Retained earnings

637,784

996,750

SHAREHOLDERS' FUNDS

638,284

997,250

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

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 December 2025 and were signed by:

Mr G J Wright - Director

1.	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.

Freehold property

-

2% on cost

Short leasehold

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on cost, 20% on reducing balance, 10% on cost and 10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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 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.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

546,460

Additions

3,333

At 31 December 2024

549,793

DEPRECIATION

At 1 January 2024

343,049

Charge for year

25,529

At 31 December 2024

368,578

NET BOOK VALUE

At 31 December 2024

181,215

At 31 December 2023

203,411

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.12.24

31.12.23

£

£

Mr G J Wright

Balance outstanding at start of year

-

29,956

Amounts repaid

-

(29,956

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-