IRIS Accounts Production v25.1.3.33 05157622 Board of Directors 1.4.24 31.3.25 31.3.25 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh051576222024-03-31051576222025-03-31051576222024-04-012025-03-31051576222023-03-31051576222023-04-012024-03-31051576222024-03-3105157622ns15:EnglandWales2024-04-012025-03-3105157622ns14:PoundSterling2024-04-012025-03-3105157622ns10:Director12024-04-012025-03-3105157622ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3105157622ns10:SmallEntities2024-04-012025-03-3105157622ns10:AuditExempt-NoAccountantsReport2024-04-012025-03-3105157622ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-3105157622ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-3105157622ns10:FullAccounts2024-04-012025-03-310515762212024-04-012025-03-3105157622ns10:OrdinaryShareClass12024-04-012025-03-3105157622ns10:Director22024-04-012025-03-3105157622ns10:CompanySecretary12024-04-012025-03-3105157622ns10:RegisteredOffice2024-04-012025-03-3105157622ns5:CurrentFinancialInstruments2025-03-3105157622ns5:CurrentFinancialInstruments2024-03-3105157622ns5:Non-currentFinancialInstruments2025-03-3105157622ns5:Non-currentFinancialInstruments2024-03-3105157622ns5:ShareCapital2025-03-3105157622ns5:ShareCapital2024-03-3105157622ns5:RevaluationReserve2025-03-3105157622ns5:RevaluationReserve2024-03-3105157622ns5:RetainedEarningsAccumulatedLosses2025-03-3105157622ns5:RetainedEarningsAccumulatedLosses2024-03-3105157622ns5:NetGoodwill2024-04-012025-03-3105157622ns5:IntangibleAssetsOtherThanGoodwill2024-04-012025-03-3105157622ns5:LandBuildings2024-04-012025-03-3105157622ns5:PlantMachinery2024-04-012025-03-3105157622ns5:NetGoodwill2024-03-3105157622ns5:NetGoodwill2025-03-3105157622ns5:NetGoodwill2024-03-3105157622ns5:LandBuildings2024-03-3105157622ns5:PlantMachinery2024-03-3105157622ns5:LandBuildings2025-03-3105157622ns5:PlantMachinery2025-03-3105157622ns5:LandBuildings2024-03-3105157622ns5:PlantMachinery2024-03-3105157622ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3105157622ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3105157622ns5:Secured2025-03-3105157622ns5:Secured2024-03-3105157622ns10:OrdinaryShareClass12025-03-3105157622ns5:RevaluationReserve2024-03-31
REGISTERED NUMBER: 05157622 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

DAVID DEXTER MOTOR VEHICLE REPAIRS
LIMITED

DAVID DEXTER MOTOR VEHICLE REPAIRS
LIMITED (REGISTERED NUMBER: 05157622)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAVID DEXTER MOTOR VEHICLE REPAIRS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: R J Whitney
K H G Bowley





SECRETARY: K H G Bowley





REGISTERED OFFICE: Northgate Works
Stanley Lane
Bridgnorth
Shropshire
WV16 4SF





REGISTERED NUMBER: 05157622 (England and Wales)





ACCOUNTANTS: Astbury Accountants Limited
12 Northgate
Bridgnorth
Shropshire
WV16 4ER

DAVID DEXTER MOTOR VEHICLE REPAIRS
LIMITED (REGISTERED NUMBER: 05157622)

BALANCE SHEET
31 MARCH 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,348,658 990,448
1,348,658 990,448

CURRENT ASSETS
Stocks 17,371 441,203
Debtors 6 45,695 64,977
Cash at bank and in hand 112,053 29,564
175,119 535,744
CREDITORS
Amounts falling due within one year 7 387,296 291,108
NET CURRENT (LIABILITIES)/ASSETS (212,177 ) 244,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,136,481

1,235,084

CREDITORS
Amounts falling due after more than one
year

8

(575,020

)

(943,771

)

PROVISIONS FOR LIABILITIES (127,942 ) (86,153 )
NET ASSETS 433,519 205,160

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 575,791 272,488
Retained earnings (142,372 ) (67,428 )
SHAREHOLDERS' FUNDS 433,519 205,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

DAVID DEXTER MOTOR VEHICLE REPAIRS
LIMITED (REGISTERED NUMBER: 05157622)

BALANCE SHEET - continued
31 MARCH 2025


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 Board of Directors and authorised for issue on 2 June 2025 and were signed on its behalf by:





R J Whitney - Director


DAVID DEXTER MOTOR VEHICLE REPAIRS
LIMITED (REGISTERED NUMBER: 05157622)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

David Dexter Motor Vehicle Repairs 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of motor vehicles is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the vehicle.

The company also repairs and services vehicles. Turnover is recognised in the accounting period in which the services are rendered when the outcome of the contract can be estimated reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost and not provided
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Plant and machinery are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Land and buildings are stated at valuation less accumulated depreciation and accumulated impairment losses.

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

Financial instruments
(i) Cash and cash Equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, and bank overdrafts.

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


DAVID DEXTER MOTOR VEHICLE REPAIRS
LIMITED (REGISTERED NUMBER: 05157622)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued
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.

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.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and 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 16 (2024 - 18 ) .

DAVID DEXTER MOTOR VEHICLE REPAIRS
LIMITED (REGISTERED NUMBER: 05157622)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 100,000
AMORTISATION
At 1 April 2024
and 31 March 2025 100,000
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2024 930,000 203,494 1,133,494
Additions - 21,705 21,705
Disposals - (41,243 ) (41,243 )
Revaluations 360,000 - 360,000
At 31 March 2025 1,290,000 183,956 1,473,956
DEPRECIATION
At 1 April 2024 - 143,046 143,046
Charge for year - 13,223 13,223
Eliminated on disposal - (30,971 ) (30,971 )
At 31 March 2025 - 125,298 125,298
NET BOOK VALUE
At 31 March 2025 1,290,000 58,658 1,348,658
At 31 March 2024 930,000 60,448 990,448

Included in cost or valuation of land and buildings is freehold land of £ 150,000 (2024 - £ 150,000 ) which is not depreciated.

Cost or valuation at 31 March 2025 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 236,353 - 236,353
Valuation in 2025 360,000 - 360,000
Cost 693,647 183,956 877,603
1,290,000 183,956 1,473,956

DAVID DEXTER MOTOR VEHICLE REPAIRS
LIMITED (REGISTERED NUMBER: 05157622)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

5. TANGIBLE FIXED ASSETS - continued

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.3.25 31.3.24
£    £   
Cost 693,647 693,647

Value of land in freehold land and buildings 150,000 150,000

Freehold land and buildings were valued on an open market basis on 8 April 2025 by Centrick Valuation & Prof. Services Ltd .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 13,660 21,092
Other debtors 32,035 43,885
45,695 64,977

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts 32,343 34,701
Trade creditors 68,990 123,385
Taxation and social security 38,685 62,860
Other creditors 247,278 70,162
387,296 291,108

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Bank loans 335,020 368,771
Other creditors 240,000 575,000
575,020 943,771

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 226,743 261,466

DAVID DEXTER MOTOR VEHICLE REPAIRS
LIMITED (REGISTERED NUMBER: 05157622)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.25 31.3.24
£    £   
Bank loans 367,363 403,472

The company bankers hold a First Legal Mortgage over the freehold property known as Northgate Works, Stanley Lane, Bridgnorth. In addition they hold a debenture comprising fixed and floating charges over all assets and undertakings of the company including all present and future freehold and leasehold property, books and other debts, chattels, goodwill and uncalled capital, both present and future.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.25 31.3.24
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Revaluation
reserve
£   
At 1 April 2024 272,488
Movement 303,303

At 31 March 2025 575,791

The revaluation reserve is solely attributable to the revaluation of freehold property. Deferred tax has been provided for.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr R Whitney and Mr K Bowley have given a joint and several guarantee of £80,000 as security for a loan advanced by HSBC.