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Registration number: 01354709

Prepared for the registrar
Daimler and Lanchester Owners' Club Limited (The)
Annual Report and Unaudited Financial Statements
for the Year Ended 31 May 2025

Daimler and Lanchester Owners' Club Limited (The)

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 6

Daimler and Lanchester Owners' Club Limited (The)

Company Information

Directors | C B Heslop M Renshaw J W Watt Mr G J Emmett J P Dignum R Longstaff

Company secretary | J W Watt

Registered office | The Lavenham Press Ltd 47 Water Street Arbons House Lavenham Suffolk CO10 9RN

Bankers | National Westminster Bank Plc PO Box 4 3 High Street Maidstone Kent ME14 1XU

Accountants | Hazlewoods LLP Staverton Court Cheltenham GL51 0UX

Daimler and Lanchester Owners' Club Limited (The)

(Registration number: 01354709)
Balance Sheet as at 31 May 2025

| Note | 2025 £ | 2024 £
Current assets |  |  |
Stocks | 6 | 325 | 825
Debtors | 7 | 6,965 | 3,676
Cash at bank and in hand |  | 134,640 | 130,028
|  | 141,930 | 134,529
Creditors: Amounts falling due within one year | 8 | (36,027) | (43,480)
Net assets |  | 105,903 | 91,049
Reserves |  |  |
Retained earnings |  | 105,903 | 91,049
Surplus |  | 105,903 | 91,049

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

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 September 2025 and signed on its behalf by:

Mr G J Emmett
Director

Daimler and Lanchester Owners' Club Limited (The)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

| 1 | General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
The Lavenham Press Ltd
47 Water Street
Arbons House
Lavenham
Suffolk
CO10 9RN

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for subscriptions and the sale of merchandise in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

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

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 taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Daimler and Lanchester Owners' Club Limited (The)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Asset class | Depreciation method and rate
Plant and machinery | 10% or 20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for subscriptions or merchandise sold in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Daimler and Lanchester Owners' Club Limited (The)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 6).

| 4 | Taxation

Tax charged in the profit and loss account

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | 683 | 569

Daimler and Lanchester Owners' Club Limited (The)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

| 5 | Tangible assets

| Furniture, fittings and equipment £
Cost
At 1 June 2024 | 3,657
At 31 May 2025 | 3,657
Depreciation
At 1 June 2024 | 3,657
At 31 May 2025 | 3,657
Carrying amount
At 31 May 2024 and 31 May 2025 | -

| 6 | Stocks

| 2025 £ | 2024 £
Club merchandise | 325 | 825

| 7 | Debtors

| 2025 £ | 2024 £
Trade debtors | 3,793 | 1,365
Other debtors | 985 | 1,448
Prepayments | 2,187 | 863
| 6,965 | 3,676

| 8 | Creditors

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 1,438 | 4,549
Accrued expenses | 7,323 | 6,350
Corporation tax liability | 683 | 570
Deferred income - advertising | 1,076 | 2,257
Deferred income - subscriptions | 23,169 | 22,446
Deferred income - rallies | 2,338 | 7,308
| 36,027 | 43,480

| 9 | Related party transactions

Summary of transactions with other related parties

During the period, £18,240 (2024 - £18,240) was paid to BN Design, a business run by K Bennett, for editorial services.