Company registration number 07121706 (England and Wales)
CLIFF DICKENSON & SON (WINSFORD) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CLIFF DICKENSON & SON (WINSFORD) LIMITED
COMPANY INFORMATION
Directors
Mr. H C D Winward
Mr. M Winward
Mrs. S Winward
Secretary
Mrs. S Winward
Company number
07121706
Registered office
Station Road Garage
Station Road
Winsford
Cheshire
CW7 3DQ
Auditor
Jack Ross Limited
Barnfield House
The Approach
Manchester
M3 7BX
CLIFF DICKENSON & SON (WINSFORD) LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 23
CLIFF DICKENSON & SON (WINSFORD) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The directors present the strategic report for the year ended 31 March 2025.

Review of the business

The business has carried on its well-established format of a new, used and Ford authorised repairer during this current financial year. This has been a successful period and we have built on our long established status(established 1927) and reputation to produce another outstanding year of financial performance.

Principal risks and uncertainties

During this year, on 31st December 2024, we lost our Ford Retail Dealer status, meaning we are no longer able to sell or advertise new cars. We were concerned that this would lead to the loss of our new car customer base but, so far, we are finding that customers are staying loyal to the Company.

Development and performance

We have, however, kept our Ford authorised repairer status and this enables us to continue with our Ford Parts and Service departments alongside our Used Car Sales. This means that our turnover will be impacted with our new car department having accounted for approximately £10m turnover in the year ended March 2024. We are working diligently to increase our Used Car sales units and Service sales to minimise the impact of the loss of the new car sales.

We have also commenced a major investment in an additional Service Centre, approximately half a mile from our main site. This is a 9 ramp facility equipped for a specialisation in light commercial repairs, for which we have consent from Ford Motor Company, to be designated as a Commercial Authorised Repairer. This will significantly boost the Service Department turnover when it becomes operational later in 2025. We have already employed two extra technicians in the 2024/25 year, including a female member, which is a first for the Company in the Workshop area.

Our key performance indicators going forward are Used Car Gross Profit/unit and Service Gross Profit %.

Used Car Gross profit/unit has increased from £787/unit for year to March 24 to £1328/unit for year to March 25. This has come from better buying of fresh stock and with 125 extra units sold the stock turnover is much quicker so avoiding stock value drops. There was also a £200K swing in the used car year end valuation which accounted for £325/unit.

Our Service Gross profit % increased from 70% for the year to March 24 up to 74% for year ended March 2025. This has come from a 21% increase in labour turnover and even with the cost addition of two extra technicians, the team are much more productive on a daily basis.

Our Turnover is showing a decrease in new car sales as per our loss of our Ford Retail Dealer status at the end of December 2024. However, our large increases in used car sales and aftersales productivity have negated the overall decrease in the turnover numbers.

Key performance indicators

The directors use the following financial KPIs to assess the performance of the business:

 

KPI

2025

2024

Variance

 

 

 

 

Used Car Gross Profit/unit

£1,328

£787

69%

Service Gross Profit %

74%

70%

4%

CLIFF DICKENSON & SON (WINSFORD) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -

On behalf of the board

Mr. H C D Winward
Director
26 May 2025
CLIFF DICKENSON & SON (WINSFORD) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -

The directors present their annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principal activity of the company continued to be that of selling and servicing motor vehicles.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr. H C D Winward
Mr. M Winward
Mrs. S Winward
Auditor

In accordance with the company's articles, a resolution proposing that Jack Ross Limited be reappointed as auditors of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr. H C D Winward
Director
26 May 2025
CLIFF DICKENSON & SON (WINSFORD) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CLIFF DICKENSON & SON (WINSFORD) LIMITED
- 5 -
Opinion

We have audited the financial statements of Cliff Dickenson & Son (Winsford) Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

 

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

 

CLIFF DICKENSON & SON (WINSFORD) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CLIFF DICKENSON & SON (WINSFORD) LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to tax legislation, employment legislation, health and safety legislation and other legislation specific to the industry in which the company operates. We have considered the extent to which non-compliance might have a material effect on the financial statements. We also have considered those law and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks related to management judgement of when to recognise income and expenditure and the effect this would have on profit.

Audit response to risks identified

 

- Enquiry of management, those charged with governance

- Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business

 

 

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error as fraud may involve concealment.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CLIFF DICKENSON & SON (WINSFORD) LIMITED
- 7 -

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Umar Memon FCA (Senior Statutory Auditor)
For and on behalf of Jack Ross Limited
Statutory Auditor
Barnfield House
The Approach
Manchester
M3 7BX
26 May 2025
CLIFF DICKENSON & SON (WINSFORD) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
2025
2024
Notes
£
£
Turnover
2
20,939,677
22,273,144
Cost of sales
(19,228,947)
(20,954,689)
Gross profit
1,710,730
1,318,455
Administrative expenses
(1,072,526)
(1,076,368)
Other operating income
113,523
114,210
Operating profit
3
751,727
356,297
Interest receivable and similar income
6
76,979
56,631
Interest payable and similar expenses
7
(41,366)
(47,385)
Profit before taxation
787,340
365,543
Tax on profit
8
(156,868)
(106,357)
Profit for the financial year
630,472
259,186

The profit and loss account has been prepared on the basis that all operations are continuing operations.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
10
1
1
Tangible assets
11
658,465
391,553
658,466
391,554
Current assets
Stocks
13
2,201,602
2,011,514
Debtors
14
714,226
605,858
Cash at bank and in hand
3,028,527
2,367,468
5,944,355
4,984,840
Creditors: amounts falling due within one year
15
(1,356,841)
(858,852)
Net current assets
4,587,514
4,125,988
Total assets less current liabilities
5,245,980
4,517,542
Creditors: amounts falling due after more than one year
16
(262,416)
(164,450)
Net assets
4,983,564
4,353,092
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
4,982,564
4,352,092
Total equity
4,983,564
4,353,092
The financial statements were approved by the board of directors and authorised for issue on 26 May 2025 and are signed on its behalf by:
Mr. H C D Winward
Director
Company Registration No. 07121706
CLIFF DICKENSON & SON (WINSFORD) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
1,000
4,192,906
4,193,906
Year ended 31 March 2024:
Profit and total comprehensive income
-
259,186
259,186
Dividends
9
-
(100,000)
(100,000)
Balance at 31 March 2024
1,000
4,352,092
4,353,092
Year ended 31 March 2025:
Profit and total comprehensive income
-
630,472
630,472
Balance at 31 March 2025
1,000
4,982,564
4,983,564
CLIFF DICKENSON & SON (WINSFORD) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
1,121,837
261,834
Interest paid
(41,366)
(47,385)
Income taxes paid
(90,039)
(173,553)
Net cash inflow from operating activities
990,432
40,896
Investing activities
Purchase of tangible fixed assets
(356,498)
(33,903)
Proceeds from disposal of tangible fixed assets
-
0
(900)
Repayment of loans
(49,854)
(1,505)
Interest received
76,979
56,631
Net cash (used in)/generated from investing activities
(329,373)
20,323
Financing activities
Dividends paid
-
0
(100,000)
Net cash used in financing activities
-
(100,000)
Net increase/(decrease) in cash and cash equivalents
661,059
(38,781)
Cash and cash equivalents at beginning of year
2,367,468
2,406,249
Cash and cash equivalents at end of year
3,028,527
2,367,468
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 12 -
1
Accounting policies
Company information

Cliff Dickenson & Son (Winsford) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Station Road Garage, Station Road, Winsford, Cheshire, CW7 3DQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts invoiced, excluding value added tax, in respect of the sale of goods and services to customers.

1.4
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold property
4% straight line
Improvements to property
10% straight line
Plant and machinery
25% straight line
Fixtures, fittings & equipment
25% straight line
Computer equipment
33% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 13 -
1.7
Stocks

Stocks 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 the normal cost of transporting stock to its present location and condition.

 

Net realisable value is the anticipated sales proceeds less any costs of disposal.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 14 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 15 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:

 

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

 

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable. The assets of the scheme are held separately from those of the company in an administered fund.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
New vehicles
5,800,113
9,903,679
Used vehicles
12,463,482
9,785,887
Service
1,491,556
1,348,964
Parts
1,184,526
1,234,614
20,939,677
22,273,144
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2
Turnover and other revenue
(Continued)
- 16 -
2025
2024
£
£
Turnover analysed by geographical market
UK
20,939,677
22,273,144
2025
2024
£
£
Other revenue
Interest income
76,979
56,631
Commissions received
113,523
114,210
3
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
19,875
16,850
Depreciation of owned tangible fixed assets
89,586
78,723
(Profit)/loss on disposal of tangible fixed assets
-
0
7,446
Operating lease charges
102,841
59,508
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
31
31

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,149,078
1,111,676
Social security costs
128,461
123,463
Pension costs
206,290
324,957
1,483,829
1,560,096
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 17 -
5
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
141,906
148,858
Company pension contributions to defined contribution schemes
180,000
300,000
321,906
448,858
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
76,979
56,631
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
76,979
56,631
7
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
41,366
47,385
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
156,868
106,357
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
8
Taxation
(Continued)
- 18 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
787,340
365,543
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
196,835
91,386
Tax effect of expenses that are not deductible in determining taxable profit
200
2,048
Permanent capital allowances in excess of depreciation
(53,097)
(6,758)
Depreciation on assets not qualifying for tax allowances
12,930
19,681
Taxation charge for the year
156,868
106,357
9
Dividends
2025
2024
£
£
Interim paid
-
0
100,000
10
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
380,000
Amortisation and impairment
At 1 April 2024 and 31 March 2025
379,999
Carrying amount
At 31 March 2025
1
At 31 March 2024
1
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 19 -
11
Tangible fixed assets
Leasehold property
Improvements to property
Assets under construction
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
£
£
Cost
At 1 April 2024
352,919
362,106
-
0
165,232
61,711
57,052
63,221
1,062,241
Additions
-
0
69,631
208,275
58,113
3,250
1,955
15,274
356,498
At 31 March 2025
352,919
431,737
208,275
223,345
64,961
59,007
78,495
1,418,739
Depreciation and impairment
At 1 April 2024
104,677
270,691
-
0
134,612
56,325
51,539
52,844
670,688
Depreciation charged in the year
14,117
37,603
-
0
23,748
2,267
4,400
7,451
89,586
At 31 March 2025
118,794
308,294
-
0
158,360
58,592
55,939
60,295
760,274
Carrying amount
At 31 March 2025
234,125
123,443
208,275
64,985
6,369
3,068
18,200
658,465
At 31 March 2024
248,242
91,415
-
0
30,620
5,386
5,513
10,377
391,553
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 20 -
12
Financial instruments

The company’s financial instruments comprise cash at bank and in hand, trade debtors and creditors, amounts due to and from directors, and a loan from a trust. The company’s policy is not to trade in derivative financial instruments. The company has no significant exposure to foreign exchange, interest rate, or other price risks. The directors consider the company’s exposure to credit risk and liquidity risk to be immaterial.

13
Stocks
2025
2024
£
£
Raw materials and consumables
117,449
93,087
Finished goods and goods for resale
2,084,153
1,918,427
2,201,602
2,011,514
14
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
166,337
162,242
Other debtors
439,577
372,897
Prepayments and accrued income
108,312
70,719
714,226
605,858
15
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
598,662
336,322
Corporation tax
173,694
106,865
Other taxation and social security
185,981
124,050
Other creditors
339,180
253,968
Accruals and deferred income
59,324
37,647
1,356,841
858,852
16
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
262,416
164,450
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 21 -
17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
206,290
324,957

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
87,000
59,500
Between two and five years
254,667
38,000
In over five years
-
0
9,500
341,667
107,000
19
Capital commitments

There are no capital commitments or contingent liabilities at the balance sheet date.

20
Events after the reporting date

There have been no events since the balance sheet date that require disclosure in the financial statements.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 22 -
21
Related party transactions
Transactions with related parties

At the year-end, there are balances due from the directors of the company amounting to £330,100(2024: £280,246) included in other debtors. No interest was paid on these loans. The loans to the directors are repayable on demand.

At the year-end, there are balances due to the directors of the company amounting to £287,923 (2024: £122,713) included in other creditors. The loans are provided interest free, unsecured and repayable on demand.

During the year dividends totalling £Nil (2024: £100,000) were paid to the directors of the company.

During the year rent of £50,004 (2024: £50,004) was paid to the directors of the company.

Also, during the year rent of £52,833(2024: £9,500) was paid to a pension scheme of which directors are members.

At the year-end, there is a balance due to the K Dickenson Settlement Trust, of which Mr M Winward and Mrs S Winward, directors of the company, are beneficiaries, of £270,420 (2024: £264,450). The loan had accrued interest in the year of £22,339 (2024: £21,819).

22
Ultimate controlling party

In the opinion of the directors, there is no ultimate controlling party.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 23 -
23
Cash generated from operations
2025
2024
£
£
Profit after taxation
630,472
259,186
Adjustments for:
Taxation charged
156,868
106,357
Finance costs
41,366
47,385
Investment income
(76,979)
(56,631)
(Gain)/loss on disposal of tangible fixed assets
-
0
7,446
Depreciation and impairment of tangible fixed assets
89,586
78,723
Movements in working capital:
(Increase)/decrease in stocks
(190,088)
244,852
(Increase)/decrease in debtors
(58,514)
69,988
Increase/(decrease) in creditors
529,126
(495,472)
Cash generated from operations
1,121,837
261,834
24
Analysis of changes in net funds
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
2,367,468
661,059
3,028,527
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