Ubley Motor Services Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 7

Ubley Motor Services Limited

(Registration number: 00943514)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fiixed assets
Tangible assets	5	21,551	26,405
Current assets
Stocks	6	48,869	43,640
Debtors	7	102,860	126,574
Cash at bank and in hand		1,112,239	1,016,241
		1,263,968	1,186,455
Creditors: Amounts falling due within one year	8	(329,248)	(337,671)
Net current assets		934,720	848,784
Total assets less current liabilities		956,271	875,189
Provisions for liabilities		(5,388)	(6,601)
Net assets		£950,883	£868,588
Capital and reserves
Called up share capital	12	1,500	1,500
Retained earnings		949,383	867,088
Shareholders' funds		£950,883	£868,588

For the financial year ending 31 December 2024 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 and 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 19 September 2025 and signed on its behalf by:
 

P A Cole Director

Ubley Motor Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £.

These financial statements were authorised for issue by the Board on 19 September 2025.

The address of its registered office is:
Cleeve Hill Garage
Ubley
Bristol
Somerset
BS40 6PG

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 that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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.

Ubley Motor Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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:

Asset class	Depreciation method and rate
Office equipment	15% reducing balance basis
Computer equipment	3 year straight line basis
Motor vehicles	25% reducing balance basis
Plant and equipment	15% reducing balance basis

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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. 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 receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

Ubley Motor Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 10).

4	Profit before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation expense	£4,854	£4,153

Ubley Motor Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Tangible assets

	Office and computer equipment  £	Motor vehicles  £	Plant and equipment  £	Total £
Cost or valuation
At 1 January 2024	8,942	2,300	47,079	58,321
At 31 December 2024	8,942	2,300	47,079	58,321
Depreciation
At 1 January 2024	2,465	2,129	27,322	31,916
Charge for the year	1,970	43	2,841	4,854
At 31 December 2024	4,435	2,172	30,163	36,770
Carrying amount
At 31 December 2024	£4,507	£128	£16,916	£21,551
At 31 December 2023	£6,477	£171	£19,757	£26,405

6

Stocks

	2024 £	2023 £
Other inventories	£48,869	£43,640

7

Debtors

Current	2024 £	2023 £
Trade debtors	61,969	108,082
Prepayments	14,565	18,427
Other debtors	26,326	65
	£102,860	£126,574

Ubley Motor Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	78,498	70,986
Taxation and social security	82,860	71,243
Accruals and deferred income	29,840	26,034
Other creditors	138,050	169,408
	£329,248	£337,671

9

Dividends

		2024		2023
		£		£
Interim dividend of £30.00 (2023 - £30.00) per ordinary share		45,000		45,000

10	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £7,083 (2023 - £11,227).

Ubley Motor Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

11	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	£142,200	£136,800

Loans from related parties

2024	Other related parties £	Total £
At start of period	167,856	167,856
Advanced	34,335	34,335
Repaid	(65,543)	(65,543)
At end of period	£136,648	£136,648

2023	Other related parties £	Total £
At start of period	158,735	158,735
Advanced	33,660	33,660
Repaid	(24,539)	(24,539)
At end of period	£167,856	£167,856

Terms of loans from related parties

These loans are included within Other creditors and represent the directors' current accounts with the company. The amounts are unsecured, interest free and repayable on demand.

12	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	1,500	1,500	1,500	1,500