KAYS AUTOSPECIALISTS LIMITED 31/03/2025 iXBRL

Company registration number: 07977478

KAYS AUTOSPECIALISTS LIMITED

Unaudited financial statements

31 March 2025

KAYS AUTOSPECIALISTS LIMITED

Contents

Directors and other information

Director's report

Accountant's report

Statement of income and retained earnings

Statement of financial position

Notes to the financial statements

KAYS AUTOSPECIALISTS LIMITED

Directors and other information


	Director	Mr A. Shepherd


	Company number	07977478


	Registered office	15 Lampits Hill
		Corringham
		Essex
		SS17 9AA


	Business address	Kings Road
		Charfleets Industrial Estate
		Canvey Island
		Essex
		SS8 0RA


	Accountant	A.W. Fenn & Co
		15 Lampits Hill
		Corringham
		Essex
		SS17 9AA




	Bankers	Lloyds TSB
		Grover Walk
		Corringham
		Essex

KAYS AUTOSPECIALISTS LIMITED

Director's report

Year ended 31st March 2025

The director presents his report and the unaudited financial statements of the company for the year ended 31st March 2025.

Director

The director who served the company during the year was as follows:

Mr A. Shepherd

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 29 August 2025 and signed on behalf of the board by:

Mr A. Shepherd

Director

KAYS AUTOSPECIALISTS LIMITED

Report to the director on the preparation of the

unaudited statutory financial statements of KAYS AUTOSPECIALISTS LIMITED

Year ended 31st March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of KAYS AUTOSPECIALISTS LIMITED for the year ended 31st March 2025 which comprise the statement of income and retained earnings, statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants , I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the director of KAYS AUTOSPECIALISTS LIMITED, as a body, in accordance with the terms of my engagement letter dated 12th October 2021. My work has been undertaken solely to prepare for your approval the financial statements of KAYS AUTOSPECIALISTS LIMITED and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than KAYS AUTOSPECIALISTS LIMITED and its director as a body for my work or for this report.

It is your duty to ensure that KAYS AUTOSPECIALISTS 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 KAYS AUTOSPECIALISTS LIMITED. You consider that KAYS AUTOSPECIALISTS LIMITED is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of KAYS AUTOSPECIALISTS LIMITED. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

A.W. Fenn & Co

Chartered Certified Accountants

15 Lampits Hill

Corringham

Essex

SS17 9AA

29th August 2025

KAYS AUTOSPECIALISTS LIMITED

Statement of income and retained earnings

Year ended 31st March 2025

		2025	2024
	Note	£	£


Turnover		4,648,464	4,532,165
Cost of sales		( 2,353,083)	( 2,347,045)
		_______	_______
Gross profit		2,295,381	2,185,120

Administrative expenses		( 1,430,876)	( 1,270,785)
		_______	_______
Operating profit		864,505	914,335

Other interest receivable and similar income		28,780	22,409
Interest payable and similar expenses		100	-
		_______	_______
Profit before taxation	5	893,385	936,744

Tax on profit		( 222,480)	( 431,677)
		_______	_______
Profit for the financial year and total comprehensive income		670,905	505,067
		_______	_______

Dividends declared and paid or payable during the year		( 74,218)	( 31,075)

Retained earnings at the start of the year		2,661,122	2,187,130
		_______	_______
Retained earnings at the end of the year		3,257,809	2,661,122
		_______	_______

All the activities of the company are from continuing operations.

KAYS AUTOSPECIALISTS LIMITED

Statement of financial position

31st March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	6	-		-
Tangible assets	7	2,001,737		1,114,836
		_______		_______
			2,001,737		1,114,836

Current assets
Stocks		425,000		385,000
Debtors	8	96,132		69,049
Cash at bank and in hand		1,928,510		2,335,263
		_______		_______
		2,449,642		2,789,312
Creditors: amounts falling due
within one year	9	( 312,780)		( 362,236)
		_______		_______
Net current assets			2,136,862		2,427,076
			_______		_______
Total assets less current liabilities			4,138,599		3,541,912

			_______		_______
Net assets			4,138,599		3,541,912
			_______		_______

Capital and reserves
Called up share capital			104,145		104,145
Revaluation reserve			672,500		672,500
Capital redemption reserve			104,145		104,145
Profit and loss account			3,257,809		2,661,122
			_______		_______
Shareholder funds			4,138,599		3,541,912
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements were approved by the board of directors and authorised for issue on 29 August 2025 , and are signed on behalf of the board by:

Mr A. Shepherd

Director

Company registration number: 07977478

KAYS AUTOSPECIALISTS LIMITED

Notes to the financial statements

Year ended 31st March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Lampits Hill, Corringham, Essex, SS17 9AA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	written off over 5 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	10% straightline balance basis
Plant and machinery	-	25% reducing balance basis
Fittings fixtures and equipment	-	25% reducing balance basis
Motor vehicles	-	25% reducing balance basis
Improvements to property	-	25% reducing balance basis

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 27 (2024: 31 ).

5. Profit before taxation

Profit before taxation is stated after charging/(crediting):

	2025	2024
	£	£
Depreciation of tangible assets	300,746	272,004
	_______	_______

6. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1st April 2024 and 31st March 2025	115,943	115,943
	_______	_______
Amortisation
At 1st April 2024 and 31st March 2025	115,943	115,943
	_______	_______
Carrying amount
At 31st March 2025	-	-
	_______	_______
At 31st March 2024	-	-
	_______	_______

7. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Improvement to premises	Total
	£	£	£	£	£	£
Cost
At 1st April 2024	1,497,500	109,960	107,451	374,364	307,530	2,396,805
Additions	897,750	50,929	8,227	23,784	211,657	1,192,347
Disposals	-	( 2,380)	( 25,400)	-	-	( 27,780)
	_______	_______	_______	_______	_______	_______
At 31st March 2025	2,395,250	158,509	90,278	398,148	519,187	3,561,372
	_______	_______	_______	_______	_______	_______
Depreciation
At 1st April 2024	696,750	89,721	79,846	185,081	230,571	1,281,969
Charge for the year	149,750	17,747	7,828	53,267	72,154	300,746
Disposals	-	( 2,201)	( 20,879)	-	-	( 23,080)
	_______	_______	_______	_______	_______	_______
At 31st March 2025	846,500	105,267	66,795	238,348	302,725	1,559,635
	_______	_______	_______	_______	_______	_______
Carrying amount
At 31st March 2025	1,548,750	53,242	23,483	159,800	216,462	2,001,737
	_______	_______	_______	_______	_______	_______
At 31st March 2024	800,750	20,239	27,605	189,283	76,959	1,114,836
	_______	_______	_______	_______	_______	_______

Investment property

Included within the above is investment property measured at fair value as follows:

		£
	Additions	897,750
		_______

8. Debtors

	2025	2024
	£	£
Trade debtors	23,039	3,520
Other debtors	73,093	65,529
	_______	_______
	96,132	69,049
	_______	_______

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	22,550	65,043
Corporation tax	274,337	289,563
Social security and other taxes	7,541	-
Other creditors	8,352	7,630
	_______	_______
	312,780	362,236
	_______	_______

10. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	925	925
Later than 1 year and not later than 5 years	2,545	3,471
	_______	_______
	3,470	4,396
	_______	_______

11. Related party transactions

During the year the company entered into the following transactions with a related party: Sales to Lazy Sheep Ltd - £1,250 (2024 £ 31,496l) Purchases from Lazy Sheep Ltd - £Nil (2024 £49,875) The above transactions are with a company that has a common director and shareholder.The company also paid dividends totalling £74,218 (2024 £31,075) during this year, the serving director receives dividends.

12. Controlling party

The company is controlled by its director Mr A Shepherd .