SAM MOTORS LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06891779

SAM MOTORS LIMITED

Filleted Unaudited Financial Statements

30 April 2025

SAM MOTORS LIMITED

Statement of Financial Position

30 April 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	2,000	3,000
Tangible assets	6	1,143	1,345
		-------	-------
		3,143	4,345

Current assets

Stocks		3,175	3,450
Debtors	7	48,711	–
Cash at bank and in hand		193,860	285,363
		---------	---------
		245,746	288,813

Creditors: amounts falling due within one year	8	28,964		120,158
		---------		---------
Net current assets			216,782	168,655
			---------	---------
Total assets less current liabilities			219,925	173,000
			---------	---------
Net assets			219,925	173,000
			---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	219,825	172,900
	---------	---------
Shareholders funds	219,925	173,000
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SAM MOTORS LIMITED

Statement of Financial Position (continued)

30 April 2025

These financial statements were approved by the board of directors and authorised for issue on 28 April 2026 , and are signed on behalf of the board by:

S Seafeen
Director

Company registration number: 06891779

SAM MOTORS LIMITED

Notes to the Financial Statements

Year ended 30 April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 792 Wickham Road, Croydon, CR0 8EA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

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

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

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

Plant and machinery	-	20% reducing balance
Equipment	-	20% reducing balance

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 stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 May 2024 and 30 April 2025	10,000
	--------
Amortisation
At 1 May 2024	7,000
Charge for the year	1,000
	--------
At 30 April 2025	8,000
	--------
Carrying amount
At 30 April 2025	2,000
	--------
At 30 April 2024	3,000
	--------

6. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 May 2024 and 30 April 2025	2,663	1,220	3,883
	-------	-------	-------
Depreciation
At 1 May 2024	1,709	829	2,538
Charge for the year	143	59	202
	-------	-------	-------
At 30 April 2025	1,852	888	2,740
	-------	-------	-------
Carrying amount
At 30 April 2025	811	332	1,143
	-------	-------	-------
At 30 April 2024	954	391	1,345
	-------	-------	-------

7. Debtors

	2025	2024
	£	£
Other debtors	48,711	–
	--------	----

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	400	–
Corporation tax	22,523	54,653
Social security and other taxes	3,000	72
Other creditors	3,041	65,433
	--------	---------
	28,964	120,158
	--------	---------

9. Director's advances, credits and guarantees

	2025	2024
	£	£
(advances)/credits to the director
Director Loan Accounts	(48,638)	60,228
	--------	--------

10. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.