Acorah Software Products - Accounts Production 16.2.800 false true true 31 December 2023 1 January 2023 false 15 May 2025 1 January 2024 31 December 2024 31 December 2024 01631994 L Chappell A P Rosner T S Attwood L Chappell true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01631994 2023-12-31 01631994 2024-12-31 01631994 2024-01-01 2024-12-31 01631994 frs-core:CurrentFinancialInstruments 2024-12-31 01631994 frs-core:ComputerEquipment 2024-01-01 2024-12-31 01631994 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 01631994 frs-core:FurnitureFittings 2024-01-01 2024-12-31 01631994 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 01631994 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 01631994 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 01631994 frs-core:OtherResidualIntangibleAssets 2024-12-31 01631994 frs-core:OtherResidualIntangibleAssets 2023-12-31 01631994 frs-core:PlantMachinery 2024-12-31 01631994 frs-core:PlantMachinery 2024-01-01 2024-12-31 01631994 frs-core:PlantMachinery 2023-12-31 01631994 frs-core:RevaluationReserve 2024-12-31 01631994 frs-core:ShareCapital 2024-12-31 01631994 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 01631994 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01631994 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 01631994 frs-bus:SmallEntities 2024-01-01 2024-12-31 01631994 frs-bus:Audited 2024-01-01 2024-12-31 01631994 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01631994 frs-bus:OrdinaryShareClass1 2024-01-01 2024-12-31 01631994 frs-bus:OrdinaryShareClass1 2024-12-31 01631994 1 2024-01-01 2024-12-31 01631994 frs-core:CostValuation 2023-12-31 01631994 frs-core:CostValuation 2024-12-31 01631994 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 01631994 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 01631994 frs-bus:Director1 2024-01-01 2024-12-31 01631994 frs-bus:Director2 2024-01-01 2024-12-31 01631994 frs-bus:Director3 2024-01-01 2024-12-31 01631994 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 01631994 frs-countries:EnglandWales 2024-01-01 2024-12-31 01631994 2022-12-31 01631994 2023-12-31 01631994 2023-01-01 2023-12-31 01631994 frs-core:CurrentFinancialInstruments 2023-12-31 01631994 frs-core:RevaluationReserve 2023-12-31 01631994 frs-core:ShareCapital 2023-12-31 01631994 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 01631994 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31
Registered number: 01631994
Windrush Garage Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—7
Page 1
Statement of Financial Position
Registered number: 01631994
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 113,109 116,454
Investments 6 1,000 1,000
114,109 117,454
CURRENT ASSETS
Stocks 7 3,259,112 2,513,194
Debtors 8 2,803,122 2,195,194
Cash at bank and in hand 8 8
6,062,242 4,708,396
Creditors: Amounts Falling Due Within One Year 9 (4,207,318 ) (3,506,120 )
NET CURRENT ASSETS (LIABILITIES) 1,854,924 1,202,276
TOTAL ASSETS LESS CURRENT LIABILITIES 1,969,033 1,319,730
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,384 ) (25,457 )
NET ASSETS 1,943,649 1,294,273
CAPITAL AND RESERVES
Called up share capital 11 351,579 351,579
Revaluation reserve 1,601 1,601
Income Statement 1,590,469 941,093
SHAREHOLDERS' FUNDS 1,943,649 1,294,273
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
L Chappell
Director
15th May 2025
The notes on pages 2 to 7 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Windrush Garage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01631994 . The registered office and principal place of business is 57 Farnham Road, Slough, SL1 3TN.
The principal activity of the company is the operation of a motor dealership involving the sale, maintenance and repair of motor vehicles and the supply of related accessories.
The presentational currency is Pound Sterling (£) and amounts are rounded to the nearest £.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
 Exemption from preparing Group Consolidated Statements
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group. The company and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Windrush Automotive Group Limited, 57 Farnham Road, Slough, SL1 3TN.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes might differ from those estimates.
The following judgements have been made by the directors in applying the company's accounting policies:
Property, plant and equipment
At each reporting date property, plant and equipment is assessed for any indication of impairment. If such an indication exists, the recoverable amount of the asset is determined based on value in use calculations which require estimates to be made of future cash flows. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Consignment stock
Consignment stock has been included within the company's Statement of Financial Position on the grounds that the company considerably bears the risks and rewards of ownership attached to these vehicles. As such, the consignment stock is considered to be under control of the company.
Stock valuation
Stock valuation is regularly monitored against age profile and market demand. Management use a number of market tools during the appraisal process including Glass' and CAP valuation guides. The directors perform regular reviews to assess if any provision is required.
Brand incentives
The company receives income in the form of various incentives which are determined by the company's brand partner. The amount receivable is generally based on achieving specific objectives such as a specified sales volume, as well as other objectives including maintaining brand partner standards which may include, but are not limited to, retail centre image and design requirements, customer satisfaction survey results and training standards. Objectives are generally set and measured on either a quarterly or annual basis.
Where incentives are based on a specific sales volume or number of registrations, the related income is recognised as a reduction in cost of sales when it is reasonably certain that the income has been earned. This is generally the later of the date the related vehicles are sold or registered or when it is reasonably certain that the related target will be met. Where incentives are linked to retail centre image and design requirements, customer satisfaction survey results or training standards, they are recognised as a reduction in cost of sales when it is reasonably certain that the incentive will be received for the relevant period.
The company may also receive contributions towards advertising and promotional expenditure. Where such contributions are received they are recognised as a reduction in the related expenditure in the period to which they relate.
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2.4. Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts, rebates and value added taxes.
Turnover from the sale of goods is recognised in the Statement of Income and Retained Earnings, net of discounts, rebates and value added tax when the significant risks and rewards of ownership have been transferred to the buyer. In general this occurs when vehicles or parts have been supplied or when a service has been completed.
Commission income is accounted for on a receivable basis.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Computer software has been amortised over its estimated useful life of 4 years. Computer software has been fully amortised.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold straight line over period of lease
Plant & Machinery 15% - 25% per annum on a straight line basis
Fixtures & Fittings 20% per annum on a straight line basis
Computer Equipment 25% per annum on a straight line basis
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.
Revaluation of tangible fixed assets
The company took advantage of the exemption under Financial Reporting Standard 102 to treat the value of all revalued assets as deemed cost going forward on transition.
2.7. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.
Consignment vehicles are regarded as being under the control of the company, and in accordance with FRS 102 are included in stocks on the Statement of Financial Position, although legal title has not passed to the company. The corresponding liability is included in trade and other creditors and is secured directly on these vehicles.
2.8. Financial Instruments
The company only has basic financial instruments, which are recognised at amortised cost.
2.9. Taxation
Current tax
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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position 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.
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Page 4
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.11. Borrowing Costs
Borrowing costs are charged to the Statement of Income and Retained Earnings on an accruals basis.
2.12. Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
2.13. Investments
Investments in subsidiaries are recognised at cost less accumulated impairment.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 43 (2023: 44)
43 44
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 16,650
As at 31 December 2024 16,650
Amortisation
As at 1 January 2024 16,650
As at 31 December 2024 16,650
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 January 2024 195,631 728,480 924,111
Additions - 44,353 44,353
As at 31 December 2024 195,631 772,833 968,464
Depreciation
As at 1 January 2024 172,161 635,496 807,657
Provided during the period 19,100 28,598 47,698
As at 31 December 2024 191,261 664,094 855,355
Net Book Value
As at 31 December 2024 4,370 108,739 113,109
As at 1 January 2024 23,470 92,984 116,454
Page 4
Page 5
6. Investments
Subsidiaries
£
Cost
As at 1 January 2024 1,000
As at 31 December 2024 1,000
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 1,000
As at 1 January 2024 1,000
7. Stocks
2024 2023
£ £
Vehicle stock 3,179,988 2,428,102
Parts stock 79,124 85,092
3,259,112 2,513,194
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,433,299 863,626
Other debtors 291,365 205,763
Amounts owed by group undertakings 1,078,458 1,125,805
2,803,122 2,195,194
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,326,013 2,869,457
Bank loans and overdrafts 415,554 52,682
Other creditors 121,528 213,478
Taxation and social security 344,223 370,503
4,207,318 3,506,120
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Page 6
10. Secured Creditors
Trade creditors include vehicle funding which is secured over the vehicles to which it relates.
The bank overdraft is secured by a fixed and floating charge over the assets of the company.
Of the creditors the following amounts are secured.
2024 2023
£ £
Trade Creditors 2,130,176 1,732,834
Bank loans and overdrafts 415,554 52,682
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
351,579 Ordinary Shares of £ 1.00 each 351,579 351,579
12. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund an amounted to £64,198 (2023: £50,532). At the year end contributions amounting to £1,038 (2023: £1,780) were payable to the scheme.
13. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 600,000 1,300,000
14. Related Party Transactions
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.
At the balance sheet date the company was owed £1,078,458 (2023: £1,125,805) by group companies.
During the year the company paid rent of £320,000 (2023: £320,000) to a director of the company.
Windrush Trade Parts Limited
This is a company in which the directors of the company have an interest.
During the year the company recharged expenses of £40,387 (2023: £25,993) to Windrush Trade Parts Limited.
During the year the company purchased goods amounting to £16,119 (2023: £10,858) from Windrush Trade Parts Limited.
At the year end the company was owed £3,370 (2023: £2,555) by Windrush Trade Parts Limited.
15. Ultimate Parent Undertaking and Controlling Party
The ultimate controlling party is A P Rosner by virtue of his majority shareholding in the ultimate parent company Windrush Automotive Group Limited.
The immediate parent undertaking is Windrush Automotive Group Limited which is registered in England and Wales. Windrush Automotive Group Limited prepares consolidated financial statements which include those of this company and are available from Companies House, Crown Way, Cardiff, CF14 3UZ.
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16. Audit Information
The auditor's report on the accounts of Windrush Garage Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Paul Allan Byrne BA (Double Hons) FCA (Senior Statutory Auditor) for and on behalf of Ascendis Audit Limited , Statutory Auditor.
Ascendis Audit Limited
Unit 3, Building 2, The Colony
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
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