IRIS Accounts Production v25.1.3.33 00331295 Board of Directors 1.1.24 31.12.24 31.12.24 Medium entities The principal activity of the company during the year was the sale of new and partly-used vehicles and related products and services through the operation of a Ford Main Dealership. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Fair value model 6% Preference shares 1.00000 Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh003312952023-12-31003312952024-12-31003312952024-01-012024-12-31003312952022-12-31003312952023-01-012023-12-31003312952023-12-3100331295ns15:EnglandWales2024-01-012024-12-3100331295ns14:PoundSterling2024-01-012024-12-3100331295ns10:Director12024-01-012024-12-3100331295ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3100331295ns10:MediumEntities2024-01-012024-12-3100331295ns10:Audited2024-01-012024-12-3100331295ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-01-012024-12-3100331295ns10:Medium-sizedCompaniesRegimeForAccounts2024-01-012024-12-3100331295ns10:FullAccounts2024-01-012024-12-3100331295ns10:PreferenceShareClass12024-01-012024-12-3100331295ns10:OrdinaryShareClass22024-01-012024-12-3100331295ns10:Director22024-01-012024-12-3100331295ns10:RegisteredOffice2024-01-012024-12-3100331295ns5:CurrentFinancialInstruments2024-12-3100331295ns5:CurrentFinancialInstruments2023-12-3100331295ns5:Non-currentFinancialInstruments2024-12-3100331295ns5:Non-currentFinancialInstruments2023-12-3100331295ns5:ShareCapital2024-12-3100331295ns5:ShareCapital2023-12-3100331295ns5:RetainedEarningsAccumulatedLosses2024-12-3100331295ns5:RetainedEarningsAccumulatedLosses2023-12-3100331295ns5:ShareCapital2022-12-3100331295ns5:RetainedEarningsAccumulatedLosses2022-12-3100331295ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3100331295ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-310033129512024-01-012024-12-3100331295ns5:OwnedAssets2024-01-012024-12-3100331295ns5:OwnedAssets2023-01-012023-12-310033129512024-01-012024-12-310033129512023-01-012023-12-3100331295ns10:OrdinaryShareClass22023-01-012023-12-3100331295ns5:LandBuildings2023-12-3100331295ns5:PlantMachinery2023-12-3100331295ns5:LandBuildings2024-01-012024-12-3100331295ns5:PlantMachinery2024-01-012024-12-3100331295ns5:LandBuildings2024-12-3100331295ns5:PlantMachinery2024-12-3100331295ns5:LandBuildings2023-12-3100331295ns5:PlantMachinery2023-12-3100331295ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3100331295ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3100331295ns10:PreferenceShareClass12024-12-3100331295ns10:OrdinaryShareClass22024-12-31
REGISTERED NUMBER: 00331295 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Motors (Coalville) Limited

Motors (Coalville) Limited (Registered number: 00331295)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Motors (Coalville) Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R M Dalby
D M Balls





REGISTERED OFFICE: Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW





BUSINESS ADDRESS: Hotel Street
Coalville
Leicestershire
LE67 3EQ





REGISTERED NUMBER: 00331295 (England and Wales)





AUDITORS: Torr Waterfield Limited
Statutory Auditor
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Motors (Coalville) Limited (Registered number: 00331295)

Strategic Report
for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
The principal activity of the company during the year was the sale of used vehicles and related products and services.

The year under review has seen gross profit margin improve slightly. The losses in the year are expected as the company is still transitioning this year to the sole sale of used vehicles. The directors are content with this result in the context of what is a very competitive market place. Under prevailing market conditions, the results are considered to be satisfactory and much credit is due to the management and staff throughout the company.

PRINCIPAL RISKS AND UNCERTAINTIES
As a retailer, the company is dependent on retaining the loyalty of both its customers and its suppliers. For customers this is addressed by maintaining a constant focus on customer service and quality as well as providing a wide product offering alongside subsidiary services such as parts and servicing.

KEY PERFORMANCE INDICATORS
The directors use a number of performance indicators, both financial and non-financial. However, turnover together with the cost of sourcing the cars sold, is of primary importance in ensuring the successful management of the company. The company also seeks to have a positive current asset position. These details appear on pages 9 and 10 and have also been discussed above.

FUTURE DEVELOPMENTS
The directors consider that the company's market place will remain very competitive in the foreseeable future and opportunities for future expansion will therefore be limited. However, the directors believe that high level of service and strong management team the company is well placed to take advantage of every opportunity in the coming year.

ON BEHALF OF THE BOARD:





R M Dalby - Director


28 May 2025

Motors (Coalville) Limited (Registered number: 00331295)

Report of the Directors
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS
Dividends paid on the ordinary share capital during the year ended 31 December 2024 amounted to £58,000 (2023 - £58,000).

DIRECTOR
R M Dalby held office during the whole of the period from 1 January 2024 to the date of this report.

Other changes in directors holding office are as follows:

D M Balls was appointed as a director after 31 December 2024 but prior to the date of this report.

FINANCIAL INSTRUMENTS
The company does not actively use financial instruments as part of its financial risk management therefore only basic financial instruments are used, such as cash and various items arising directly from operations (such as trade debtors and trade creditors). The use of these basic financial instruments is managed by design and implementation of policies and procedures covering working capital management, credit control and cash management. Liquidity risk is minimal given the company's healthy cash balance and credit checks are implemented when new customers are taken on thereby ensuring any credit risk is effectively managed.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





R M Dalby - Director


28 May 2025

Report of the Independent Auditors to the Members of
Motors (Coalville) Limited

Opinion
We have audited the financial statements of Motors (Coalville) Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Motors (Coalville) Limited


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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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.

Report of the Independent Auditors to the Members of
Motors (Coalville) Limited


Auditors' 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 a Report of the Auditors 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
The capability to detect irregularities is based on the auditor identifying and assessing the risks of material misstatement of the financial statements, whether due to fraud or error, and then designing and performing audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

a) Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, the following approach was taken:
- Understanding the nature of the industry and sector, control environment and business performance;
- Consideration of the results of our enquiries of management and those charged with governance
about their own identification and assessment of the risks of irregularities;
- Understanding the company's policies and procedures on compliance with laws and regulations and
management of fraud risk, including documentation of instances of non-compliance of laws and
regulations and instances of actual, suspected or alleged fraud;
- Consideration of matters discussed among the audit engagement team regarding how and where
fraud might occur in the financial statements and any potential indicators of fraud;
- Understanding the legal and regulatory frameworks that the company operates in through enquiry of
management and those charged with governance and understanding the company's industry and
sector. The key laws and regulations that were considered to have an effect on material amounts and
disclosures in the financial statements included the Companies Act and tax legislation.

b) Audit response to risks identified

Based on this understanding, the following audit procedures were designed and performed to respond to the risks identified:
- Reviewing the financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations described as having a direct effect on the financial
statements;
- Enquiring of management, those charged with governance and, where applicable, the company's
solicitors concerning actual and potential litigation and claims;
- Performing analytical procedures to identify any unusual or unexpected relationships that may
indicate risks of material misstatement due to fraud;
- Reviewing minutes of meetings of those charged with governance and, where applicable,
correspondence with regulators;
- Performing audit work over the risk of management override of controls, including testing of journal
entries and other adjustments for appropriateness and evaluating the business rationale of significant
transactions outside the normal course of business;
- Communication of potential fraud risks to all engagement team members and remaining alert to any
indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


Report of the Independent Auditors to the Members of
Motors (Coalville) Limited

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.




Mark Torr (Senior Statutory Auditor)
for and on behalf of Torr Waterfield Limited
Statutory Auditor
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

29 May 2025

Motors (Coalville) Limited (Registered number: 00331295)

Statement of Comprehensive
Income
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   

TURNOVER 10,851,990 10,875,086

Cost of sales (10,451,019 ) (10,515,193 )
GROSS PROFIT 400,971 359,893

Administrative expenses (518,679 ) (527,539 )
(117,708 ) (167,646 )

Other operating income 66,000 64,000
OPERATING LOSS 4 (51,708 ) (103,646 )

Interest receivable and similar income 13,916 7,112
(37,792 ) (96,534 )

Interest payable and similar expenses 5 (180 ) (180 )
LOSS BEFORE TAXATION (37,972 ) (96,714 )

Tax on loss 6 - 2,431
LOSS FOR THE FINANCIAL YEAR (37,972 ) (94,283 )

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(37,972

)

(94,283

)

Motors (Coalville) Limited (Registered number: 00331295)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 8 944,768 962,966
Investment property 9 1,311,555 1,311,555
2,256,323 2,274,521

CURRENT ASSETS
Stocks 10 3,094,001 3,119,585
Debtors 11 151,807 172,346
Cash at bank and in hand 446,625 449,662
3,692,433 3,741,593
CREDITORS
Amounts falling due within one year 12 (240,074 ) (211,460 )
NET CURRENT ASSETS 3,452,359 3,530,133
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,708,682

5,804,654

CREDITORS
Amounts falling due after more than one
year

13

(3,000

)

(3,000

)
NET ASSETS 5,705,682 5,801,654

CAPITAL AND RESERVES
Called up share capital 15 29,000 29,000
Retained earnings 16 5,676,682 5,772,654
SHAREHOLDERS' FUNDS 5,705,682 5,801,654

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:





R M Dalby - Director


Motors (Coalville) Limited (Registered number: 00331295)

Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 29,000 5,924,937 5,953,937

Changes in equity
Dividends - (58,000 ) (58,000 )
Total comprehensive income - (94,283 ) (94,283 )
Balance at 31 December 2023 29,000 5,772,654 5,801,654

Changes in equity
Dividends - (58,000 ) (58,000 )
Total comprehensive income - (37,972 ) (37,972 )
Balance at 31 December 2024 29,000 5,676,682 5,705,682

Motors (Coalville) Limited (Registered number: 00331295)

Cash Flow Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 41,578 (56,756 )
Finance costs paid (180 ) (180 )
Net cash from operating activities 41,398 (56,936 )

Cash flows from investing activities
Purchase of tangible fixed assets (350 ) (19,801 )
Interest received 13,915 7,112
Net cash from investing activities 13,565 (12,689 )

Cash flows from financing activities
Equity dividends paid (58,000 ) (58,000 )
Net cash from financing activities (58,000 ) (58,000 )

Decrease in cash and cash equivalents (3,037 ) (127,625 )
Cash and cash equivalents at
beginning of year

2

449,662

577,287

Cash and cash equivalents at end of
year

2

446,625

449,662

Motors (Coalville) Limited (Registered number: 00331295)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2024

1. RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24 31.12.23
£    £   
Loss before taxation (37,972 ) (96,714 )
Depreciation charges 18,549 15,552
Loss on disposal of fixed assets - 2,098
Finance costs 180 180
Finance income (13,916 ) (7,112 )
(33,159 ) (85,996 )
Decrease/(increase) in stocks 25,584 (66,874 )
Decrease in trade and other debtors 20,539 92,821
Increase in trade and other creditors 28,614 3,293
Cash generated from operations 41,578 (56,756 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 446,625 449,662
Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 449,662 577,287


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank and in hand 449,662 (3,037 ) 446,625
449,662 (3,037 ) 446,625
Debt
Debts falling due after 1 year (3,000 ) - (3,000 )
(3,000 ) - (3,000 )
Total 446,662 (3,037 ) 443,625

Motors (Coalville) Limited (Registered number: 00331295)

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

1. STATUTORY INFORMATION

Motors (Coalville) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historic cost convention, as modified by the revaluation of investment property.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of assets. The useful economic lives and residual values are reviewed annually. They are amended when necessary to reflect current accounting estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

ii) Investment property

Investment properties are valued periodically using a yield methodology. This uses market rental values capitalised at a market capitalisation rate but there is an inevitable degree of judgement involved in that each property is unique and value can only be reliably tested in the market itself. Other inputs into the valuation are the annual rent per square metre and the capitalisation rate. The location, use and age of the property are also significant factors which are taken into consideration when determining the value of the property.

iii) Stocks

In determining stock provisions, future demand and selling price is evaluated and appropriate provisions are made to reflect the risk of obsolescence and impairment in carrying value. The provisioning policy is in place to ensure that the carrying value of stock recognised in the financial statements is the lower of cost and estimated selling price, in accordance with the stated accounting policy.

Motors (Coalville) Limited (Registered number: 00331295)

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

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and Value Added Tax.

The company recognises turnover when the following criteria have been met:

i) Sale of goods

Revenue from the sale of goods is recognised when :
(a) the significant risks and rewards of ownership have been transferred to the buyer;
(b) the company retains no ongoing involvement or control over the goods;
(c) the revenue can be reliably measured;
(d) it is probable that the Company will receive the consideration due under the transaction; and
(e) the costs incurred in respect of the transaction can be reliably measured.

ii) Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
(a) the amount of revenue can be reliably measured;
(b) it is probable that the Company will receive the consideration due under the contract;
(c) the stage of completion of the contract at the end of the reporting period can be measured reliably; and
(d) the costs incurred and the costs to complete the contract can be reliably measured.

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to the location and condition necessary for its intended use.

Depreciation is charged to allocate the cost of assets less their residual value over their estimated useful economic lives as follows:

Freehold property - 2% on cost
Plant and machinery - 25% on cost

Freehold property includes land which is not depreciated.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the purchase on a first-in, first-out basis.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to sell and an impairment charge is recognised in the Statement of Comprehensive Income.

Motors (Coalville) Limited (Registered number: 00331295)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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.

3. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 746,795 745,986
Social security costs 78,806 82,454
Other pension costs 45,550 43,264
871,151 871,704

The average number of employees during the year was as follows:
31.12.24 31.12.23

Directors 1 1
Sales and distribution 19 20
Administration 5 5
25 26

Motors (Coalville) Limited (Registered number: 00331295)

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

3. EMPLOYEES AND DIRECTORS - continued

31.12.24 31.12.23
£    £   
Director's remuneration 55,365 54,832

4. OPERATING LOSS

The operating loss is stated after charging:

31.12.24 31.12.23
£    £   
Depreciation - owned assets 18,548 15,552
Loss on disposal of fixed assets - 2,098
Auditor's remuneration 15,000 14,700

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.24 31.12.23
£    £   
Preference dividend 180 180

6. TAXATION

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
31.12.24 31.12.23
£    £   
Deferred tax - (2,431 )
Tax on loss - (2,431 )

UK corporation tax has been charged at 19% .

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24 31.12.23
£    £   
Loss before tax (37,972 ) (96,714 )
Loss multiplied by the standard rate of corporation tax in the UK of
19% (2023 - 19%)

(7,215

)

(18,376

)

Effects of:
Expenses not deductible for tax purposes 34 34
Depreciation on ineligible assets 435 939

Tax losses carried forward 6,746 14,972
Total tax credit - (2,431 )

Motors (Coalville) Limited (Registered number: 00331295)

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

6. TAXATION - continued

Factors Affecting Future Tax Charges

A deferred tax asset of £21,717 (2023 - £14,972) has not been recognised in the accounts. The total losses carried forward are £121,736 (2023 - £100,586).

7. DIVIDENDS
31.12.24 31.12.23
£    £   
Ordinary shares of £1 each
Final 58,000 58,000

8. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 January 2024 1,026,280 101,210 1,127,490
Additions - 350 350
At 31 December 2024 1,026,280 101,560 1,127,840
DEPRECIATION
At 1 January 2024 99,320 65,204 164,524
Charge for year 2,292 16,256 18,548
At 31 December 2024 101,612 81,460 183,072
NET BOOK VALUE
At 31 December 2024 924,668 20,100 944,768
At 31 December 2023 926,960 36,006 962,966

Included in cost of land and buildings is freehold land of £ 904,625 (2023 - £ 904,625 ) which is not depreciated.

9. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 1,311,555
NET BOOK VALUE
At 31 December 2024 1,311,555
At 31 December 2023 1,311,555

The 2024 valuation was made by the directors, on an open market value for existing use basis.

Motors (Coalville) Limited (Registered number: 00331295)

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

10. STOCKS
31.12.24 31.12.23
£    £   
Finished goods and goods for resale 3,094,001 3,119,585

Stock recognised in cost of sales during the year as an expense was £9,579,868 (2023 - £9,643,489).

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 109,258 84,507
Other debtors 28,949 56,126
Corporation tax repayable - 17,183
Prepayments and accrued income 13,600 14,530
151,807 172,346

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 115,357 65,237
Social security and other taxes 65,759 38,228
Other creditors 35,381 56,786
Accruals and deferred income 23,577 51,209
240,074 211,460

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Preference shares (see note 14) 3,000 3,000

14. LOANS

An analysis of the maturity of loans is given below:

31.12.24 31.12.23
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Preference shares 3,000 3,000

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
3,000 6% Preference shares £1 3,000 3,000

Motors (Coalville) Limited (Registered number: 00331295)

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

14. LOANS - continued

The rights attaching to the 6% Cumulative preference shares are as follows:

- They are entitled to a fixed preferential dividend of 6% but will not further participate in the profits which the company may determine to distribute in respect of any financial year.

- On a return of capital or liquidation the surplus assets of the company after payment of its liabilities shall be applied first by repaying the holders of the preference shares the amount paid up on such shares and the balance of such surplus distributed to the holders of the ordinary shares in proportion to the amounts paid on the ordinary shares held by them.

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
29,000 Ordinary £1 29,000 29,000

16. RESERVES

Called up share capital
This represents the nominal value of shares that have been issued.

Retained Earnings

Retained earnings represents cumulative profits or losses, net of dividends paid in the current and previous periods.

17. RELATED PARTY DISCLOSURES

Other related parties
31.12.24 31.12.23
£    £   
Rent received 66,000 64,000
Amount due from related party - 8,213

During the year the company transacted with a company owned by a close family member of R M Dalby, director. See table above for details.

At the year end there was an amount of £5,549 (2023 - £5,549) owing to DAW Finance Company Limited, a dormant company. This company is controlled by R M Dalby.

During the year, total dividends of £47,943 (2023 - £36,343) were paid to the directors.

During the year, a total of key management personnel compensation of £ 55,365 (2023 - £ 54,832 ) was paid.

Key management personnel are considered to be those having authority and responsibility for planning, directing and controlling the activities of the entity.

18. CONTROLLING PARTY

The controlling party is R M Dalby.