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REGISTERED NUMBER: 02685331 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Capricorn Automotive Limited

Capricorn Automotive Limited (Registered number: 02685331)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Capricorn Automotive Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J G Thorogood
Dr R W Wild





REGISTERED OFFICE: Unit B & C The Lutyens Industrial Centre
Bilton Road
Basingstoke
RG24 8LJ





REGISTERED NUMBER: 02685331 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Capricorn Automotive Limited (Registered number: 02685331)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,643,588 1,653,023
Investments 5 1 1
1,643,589 1,653,024

CURRENT ASSETS
Stocks 328,663 365,229
Debtors 6 697,731 772,067
Cash at bank and in hand 52,178 16,586
1,078,572 1,153,882
CREDITORS
Amounts falling due within one year 7 1,479,864 1,652,660
NET CURRENT LIABILITIES (401,292 ) (498,778 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,242,297

1,154,246

CREDITORS
Amounts falling due after more than one
year

8

889,170

912,128
NET ASSETS 353,127 242,118

CAPITAL AND RESERVES
Called up share capital 11 6,200,550 6,200,550
Retained earnings (5,847,423 ) (5,958,432 )
SHAREHOLDERS' FUNDS 353,127 242,118

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 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.

Capricorn Automotive Limited (Registered number: 02685331)

Balance Sheet - continued
31 December 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





Dr R W Wild - Director


Capricorn Automotive Limited (Registered number: 02685331)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Capricorn Automotive 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.

The company continues to have the support of the group. The parent company has provided assurances that it will continue to support the company and as such the director considers it appropriate that the accounts are prepared on a going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Capricorn Automotive Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 the cost less estimated residual value of each asset over its estimated useful life.
Long leasehold - 10% on cost and 5% on cost
Plant and machinery - 20% on cost, 6.67% on cost and 5% on cost
Furniture, fittings & equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Capricorn Automotive Limited (Registered number: 02685331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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, adjusted for indexation where applicable.

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.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 36 ) .

Capricorn Automotive Limited (Registered number: 02685331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


4. TANGIBLE FIXED ASSETS
Furniture,
Long Plant and fittings
leasehold machinery & equipment Totals
£    £    £    £   
COST
At 1 January 2024 644,728 3,391,475 8,659 4,044,862
Additions - 22,244 - 22,244
At 31 December 2024 644,728 3,413,719 8,659 4,067,106
DEPRECIATION
At 1 January 2024 288,020 2,098,039 5,780 2,391,839
Charge for year 30,344 - 1,335 31,679
At 31 December 2024 318,364 2,098,039 7,115 2,423,518
NET BOOK VALUE
At 31 December 2024 326,364 1,315,680 1,544 1,643,588
At 31 December 2023 356,708 1,293,436 2,879 1,653,023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2024
and 31 December 2024 1
NET BOOK VALUE
At 31 December 2024 1
At 31 December 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 421,089 467,345
Other debtors 276,642 304,722
697,731 772,067

Capricorn Automotive Limited (Registered number: 02685331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 477,054 465,660
Finance leases (see note 9) 224,313 220,989
Trade creditors 553,358 437,292
Taxation and social security 106,997 251,449
Other creditors 118,142 277,270
1,479,864 1,652,660

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Finance leases (see note 9) 619,939 824,842
Taxation and social security 269,231 87,286
889,170 912,128

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
31.12.24 31.12.23
£    £   
Net obligations repayable:
Within one year 224,313 220,989
Between one and five years 619,939 824,842
844,252 1,045,831

Non-cancellable operating leases
31.12.24 31.12.23
£    £   
Within one year 179,640 179,640
Between one and five years 718,560 718,560
In more than five years 14,970 194,610
913,170 1,092,810

Capricorn Automotive Limited (Registered number: 02685331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank overdrafts 477,054 465,660
Finance leases 844,252 1,045,831
1,321,306 1,511,491

Bank borrowings and bank overdrafts are secured by way of a debenture over the assets of the company.

Obligations under finance lease contracts are secured on the specific assets financed.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
200,550 Ordinary A £1 200,550 200,550
1,000,000 Ordinary B £1 1,000,000 1,000,000
1,000,000 Ordinary C £1 1,000,000 1,000,000
1,000,000 Ordinary D £1 1,000,000 1,000,000
1,000,000 Ordinary E £1 1,000,000 1,000,000
1,000,000 Ordinary F £1 1,000,000 1,000,000
1,000,000 Ordinary G £1 1,000,000 1,000,000
6,200,550 6,200,550

12. PARENT AND ULTIMATE PARENT UNDERTAKING

The company's immediate parent is Capricorn HOLDING GmbH, incorporated in Germany.

The most senior parent entity producing publicly available financial statements is Capricorn HOLDING GmbH. These financial statements are available upon request from Speditionstraße 23, Düsseldorf, 40221, Germany.

The ultimate controlling party is Dr R W Wild by virtue of his majority shareholding.