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Company registration number: 00943545







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2024


IAN ALLAN MOTORS LIMITED






































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IAN ALLAN MOTORS LIMITED
 


 
COMPANY INFORMATION


Directors
B. F. Allan 
N. D. Allan 




Registered number
00943545



Registered office
Dial House
Govett Avenue

Shepperton

Middlesex

TW17 8AG




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY




Bankers
Lloyds Bank plc
Connaught House

Alexandra Terrace

Guildford

Surrey

GU21 6HJ




Solicitors
Moore Barlow LLP
Concord House

165 Church Street East

Woking

Surrey

GU21 6HJ





 


IAN ALLAN MOTORS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 7


 


IAN ALLAN MOTORS LIMITED
REGISTERED NUMBER:00943545



STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,545
35,135

  
22,545
35,135

Current assets
  

Stocks
  
1,932,668
4,388,456

Debtors: amounts falling due within one year
 5 
58,893
77,100

Cash at bank and in hand
  
181,003
540,720

  
2,172,564
5,006,276

Creditors: amounts falling due within one year
 6 
(1,743,985)
(5,294,641)

Net current assets/(liabilities)
  
 
 
428,579
 
 
(288,365)

Total assets less current liabilities
  
451,124
(253,230)

  

Net assets/(liabilities)
  
451,124
(253,230)


Capital and reserves
  

Allotted, called up and fully paid share capital
  
100,000
100,000

Profit and loss account
  
351,124
(353,230)

  
451,124
(253,230)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N. D. Allan
B. F. Allan
Director
Director


Date: 26 August 2025
Date:21 August 2025

The notes on pages 2 to 7 form part of these financial statements.
Page 1

 


IAN ALLAN MOTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Ian Allan Motors Limited is a private company limited by shares incorporated in England and Wales. The address of
the registered office can be found on the Company information page. The Company's principal place of business is Sandhills Lane, Virginia Water, Surrey, GU25 4BT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The financial statements are in sterling and are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

After the year end, the company ceased trading and therefore these financial statements have been prepared on a basis other than the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of motor vehicles is recognised when the Company has transferred the significant risks and rewards of ownership to the buyer and legal title for the vehicle has passed to the buyer.
 
Rendering of services

Revenue from vehicle servicing is recognised in the period in which the service is provided, when the contracted work is complete and the customer has confirmed the quoted work has been completed.
 
Page 2

 


IAN ALLAN MOTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, of that asset as follows:.

Depreciation is provided on the following basis:

Fixtures and Equipment
-
15%
or 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.5

Stocks

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

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


IAN ALLAN MOTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the  financial  statements  requires  management  to  make  judgements, estimates and assumptions that affect the amounts reported. The estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable 
under the circumstances.

A key area of judgement in the preparation of these financial statements is in relation to the treatment of consignment stock. This is recognised as stock within current assets on the basis that the Company is considered   to bear materially all risks and rewards of ownership for the consignment stock at the point of delivery

Page 4

 


IAN ALLAN MOTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 December 2023
492,916


Additions
5,998


Disposals
(294)



At 30 November 2024

498,620



Depreciation


At 1 December 2023
457,781


Charge for the year
18,294



At 30 November 2024

476,075



Net book value



At 30 November 2024
22,545



At 30 November 2023
35,135

Page 5

 


IAN ALLAN MOTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
19,157
43,026

Other debtors
29,909
16,123

Prepayments and accrued income
9,827
12,013

Deferred taxation
-
5,938

58,893
77,100



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,180,228
3,101,709

Amounts owed to group undertakings
390,000
1,700,000

Other taxation and social security
12,378
13,850

Other creditors
134,252
454,577

Accruals and deferred income
27,127
24,505

1,743,985
5,294,641


7.

Contingencies

The Company has provided Lloyds Bank plc with guarantees to secure the borrowings of other companies within the group. At 30 November 2024 the group had a bank loan of £988,927 with Lloyds Bank plc (2023 - £Nil).


8.


Post balance sheet events

After the year end the company ceased trading and therefore these financial statements have been prepared on a basis other than the going concern basis. 


9.


Ultimate parent company

The ultimate parent company is IAGP Limited which is registered in England and Wales. The immediate parent company is Ian Allan Group Limited.
Copies of the consolidated financial statements of IAGP Limited can be obtained from Dial House, Govett Avenue, Shepperton, Middlesex, England, TW17 8AG.
This is the largest and smallest group of undertakings for which consolidated financial statements are available.

Page 6

 


IAN ALLAN MOTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

10.


Auditor's information

The auditor's report on the financial statements for the year ended 30 November 2024 was unqualified.

The audit report was signed on 26 August 2025 by Andrew Hookway FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 7