REGISTERED NUMBER: 00403683 (England and Wales)

MARCHANTS GARAGES (TUNBRIDGE WELLS)

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

P R Britten

Mrs M J Britten

Ms L J Britten

N R Britten

SECRETARY:

Mrs M J Britten

REGISTERED OFFICE:

High Street

Mayfield

East Sussex

TN20 6AA

REGISTERED NUMBER:

00403683 (England and Wales)

ACCOUNTANTS:

Bessler Hendrie LLP

Chartered Accountants

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

FIXED ASSETS

Tangible assets

4

175,366

177,489

Investment property

5

2,300,000

2,300,000

2,475,366

2,477,489

CURRENT ASSETS

Debtors

6

11,535

1,553

Cash at bank and in hand

1,135,261

1,109,775

1,146,796

1,111,328

CREDITORS

Amounts falling due within one year

7

(123,711

)

(122,963

)

NET CURRENT ASSETS

1,023,085

988,365

TOTAL ASSETS LESS CURRENT LIABILITIES

3,498,451

3,465,854

PROVISIONS FOR LIABILITIES

(417,468

)

(417,468

)

NET ASSETS

3,080,983

3,048,386

CAPITAL AND RESERVES

Called up share capital

6,600

6,600

Non - distributable reserves

8

1,518,420

1,518,420

Retained earnings

1,555,963

1,523,366

SHAREHOLDERS' FUNDS

3,080,983

3,048,386

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.

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 12 September 2025 and were signed on its behalf by:

Mrs M J Britten - Director

P R Britten - Director

1.	STATUTORY INFORMATION

Marchants Garages (Tunbridge Wells) 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.

Significant judgements and estimates

The directors have made key assumptions in the determination of the fair value of the investment properties.

Turnover

Turnover represents net receivable income from sales of goods and services supplied, excluding value added tax.

Tangible fixed assets

Tangible fixed assets are stated at their historic cost price less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for use. The asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant change since the last reporting date.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property 2% on cost

Plant and machinery 25% and 33% on reducing balance

On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in the income statement, and included in administrative expenses.

Any impairment losses are recognised in the income statement when the carrying amount of an asset exceeds its recoverable amount.

Investment property

Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably on an on-going basis are measured at fair value.

Gains and losses arising from changes in the fair value of investment properties are included in the income statement in the period which they arise. Gains and losses are subsequently transferred to non-distributable reserves on the balance sheet.

Financial instruments

Financial instruments are as basic or non-basic following the conditions on FRS 102 Section 11. Basic financial instruments are initially measured at transaction price (including transaction cost) and subsequently recognised at amortised cost using the effective interest method. The company does not have any non-basic financial instruments.

Current tax

Current tax is the amount of corporation tax payable in respect of taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end.

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 that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

248,280

40,016

288,296

Impairments

-

(2,000

)

(2,000

)

At 31 March 2025

248,280

38,016

286,296

DEPRECIATION

At 1 April 2024

98,280

12,527

110,807

Charge for year

-

123

123

At 31 March 2025

98,280

12,650

110,930

NET BOOK VALUE

At 31 March 2025

150,000

25,366

175,366

At 31 March 2024

150,000

27,489

177,489

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

2,300,000

NET BOOK VALUE

At 31 March 2025

2,300,000

At 31 March 2024

2,300,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

2,300,000

Included above are two investment properties, valued at £2,300,000 by the directors, who are not surveyors. The directors consider the valuations represent the open market value at 31 March 2025.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

11,535

1,553

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

72,177

71,529

Other creditors

51,534

51,434

123,711

122,963

8.

RESERVES

Non distributable reserves

£

As at 1 April 2024 and 31 March 2025

1,158,420

Non-distributable reserves comprise the fair value movement in investment property value and the associated deferred tax on the change in fair value.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marchants Garages (Tunbridge Wells) Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Marchants Garages (Tunbridge Wells) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Marchants Garages (Tunbridge Wells) Limited and state those matters that we have agreed to state to the Board of Directors of Marchants Garages (Tunbridge Wells) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marchants Garages (Tunbridge Wells) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Marchants Garages (Tunbridge Wells) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marchants Garages (Tunbridge Wells) Limited. You consider that Marchants Garages (Tunbridge Wells) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Marchants Garages (Tunbridge Wells) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors, who obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.

Bessler Hendrie LLP

Chartered Accountants

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

12 September 2025