REGISTERED NUMBER: 07990812 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CANTERBURY MOTORING WORLD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G McGinty

REGISTERED OFFICE:

The Showroom

Lakeside Services

Sturry Road

Canterbury

Kent

REGISTERED NUMBER:

07990812 (England and Wales)

FIXED ASSETS

Tangible assets

4

28,393

26,183

CURRENT ASSETS

Stocks

736,216

872,858

Debtors

5

899,363

809,724

Cash at bank and in hand

180,032

115,547

1,815,611

1,798,129

CREDITORS

Amounts falling due within one year

6

575,640

427,675

NET CURRENT ASSETS

1,239,971

1,370,454

TOTAL ASSETS LESS CURRENT LIABILITIES

1,268,364

1,396,637

CREDITORS

Amounts falling due after more than one year

7

(700,000

)

(850,000

)

PROVISIONS FOR LIABILITIES

(2,589

)

(2,589

)

NET ASSETS

565,775

544,048

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

565,575

543,848

565,775

544,048

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.

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 31 December 2025 and were signed by:

G McGinty - Director

1.	STATUTORY INFORMATION

Canterbury Motoring World 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.

Accounting estimates and judgements

The preparation of the financial statements requires management to make estimates that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The key areas of judgement and estimation uncertainty relate to stock valuation and warranty provisions. However, the directors do not believe that any reasonable change in assumptions would result in a material adjustment to the carrying values of assets and liabilities.

Turnover

Turnover is measured at the fair value of the consideration received and represents amounts receivable for the sale of vehicles and accessories, the provision of workshop services or finance arrangement commission, excluding value added tax.

Turnover is recognised upon delivery of the vehicle to the customer, which only occurs once full payment or evidence of full payment has been received or upon completion of the car services being provided and payment being received in full.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

50% on cost

Computer equipment

-

33% 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.

Vehicle stock and parts stock are valued at the lower of cost and selling price less cost to sell. Costs include all costs of purchase and costs incurred in bringing the goods to their required condition prior to sale.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

49,662

30,294

22,775

28,847

131,578

Additions

9,840

-

-

-

9,840

At 31 December 2024

59,502

30,294

22,775

28,847

141,418

DEPRECIATION

At 1 January 2024

34,895

18,878

22,775

28,847

105,395

Charge for year

4,722

2,908

-

-

7,630

At 31 December 2024

39,617

21,786

22,775

28,847

113,025

NET BOOK VALUE

At 31 December 2024

19,885

8,508

-

-

28,393

At 31 December 2023

14,767

11,416

-

-

26,183

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

751,636

671,449

Other debtors

105,616

99,366

Accrued income

9,190

12,955

Prepayments

32,921

25,954

899,363

809,724

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

450,363

348,004

Tax

14,059

25,367

Social security and other taxes

12,547

9,238

VAT

5,694

9,586

Other creditors

62,020

798

Accrued expenses

30,957

34,682

575,640

427,675

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

700,000

850,000