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Registered number: 14688303
Simon Drabble Cars Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2025
Jupp Castle Limited
ACCA
2nd Floor Stanley House London Road
Hook
Hampshire
RG27 9GA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14688303
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 108,000
Investments 5 141,602 1,200
141,602 109,200
CURRENT ASSETS
Stocks 6 185,000 15,000
Debtors 7 1,877 1,858
Cash at bank and in hand 56,696 97,019
243,573 113,877
Creditors: Amounts Falling Due Within One Year 8 (67,790 ) (58,535 )
NET CURRENT ASSETS (LIABILITIES) 175,783 55,342
TOTAL ASSETS LESS CURRENT LIABILITIES 317,385 164,542
Creditors: Amounts Falling Due After More Than One Year 9 (166,098 ) (72,022 )
NET ASSETS 151,287 92,520
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 151,187 92,420
SHAREHOLDERS' FUNDS 151,287 92,520
Page 1
Page 2
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Drabble
Director
21 June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Simon Drabble Cars Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14688303 . The registered office is 2nd Floor Stanley House, London Road, Hook, Hampshire, RG27 9GA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover, reflecting commission and consultancy services, is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 10% Reducing balance
Fixtures & Fittings 25% straight line
2.4. Investment Properties
All investment assets are carried at fair value determined annually and derived from the current market values. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Stocks and Work in Progress
Vehicle stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Motor Vehicles
£
Cost or Valuation
As at 1 March 2024 120,000
Transfers (120,000 )
As at 28 February 2025 -
Depreciation
As at 1 March 2024 12,000
Transfers (12,000 )
As at 28 February 2025 -
Net Book Value
As at 28 February 2025 -
As at 1 March 2024 108,000
Ford Capri 1980 included in fixed assets at 29 February 2024 have been reclassified as an investment and is held at market value within investments.
5. Investments
Other
£
Cost
As at 1 March 2024 1,200
Additions 20,402
Transfers 120,000
As at 28 February 2025 141,602
Provision
As at 1 March 2024 -
As at 28 February 2025 -
Net Book Value
As at 28 February 2025 141,602
As at 1 March 2024 1,200
Investments are shown at market value.
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Page 5
6. Stocks
2025 2024
£ £
Vehicle stock 185,000 15,000
The car held in stock at the year end is a Porsche 996 which has been valued by the director at £250,000 and is currently on sale for £250,000.  The vehicle is included at the year end at the lower of cost and net realisable value. 
7. Debtors
2025 2024
£ £
Due within one year
Amounts owed by participating interests 1,548 -
Other debtors 329 1,858
1,877 1,858
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 20,159 -
Trade creditors 9,248 3,524
Other creditors - 8,333
Taxation and social security 38,383 46,678
67,790 58,535
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 142,313 -
Other creditors 23,785 72,022
166,098 72,022
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 20,159 -
Later than one year and not later than five years 142,313 -
162,472 -
162,472 -
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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