Peter Ambrose (Castleford) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03865241 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Peter Ambrose (Castleford) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Ambrose

Mrs D Harrison

P P Keaveney

C Firth

C Boot

REGISTERED OFFICE:

5 Methley Road

Castleford

Yorkshire

WF10 1LX

REGISTERED NUMBER:

03865241 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr Craig Peter Fishwick FCCA

AUDITORS:

Mayes Business Partnership Limited

Chartered Certified Accountants and

Statutory Auditors

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Tangible assets

4

15,003

26,697

CURRENT ASSETS

Stocks

891,250

1,175,160

Debtors

5

1,391,604

2,490,318

Cash at bank and in hand

2,201,570

1,432,816

4,484,424

5,098,294

CREDITORS

Amounts falling due within one year

6

(2,881,868

)

(3,675,960

)

NET CURRENT ASSETS

1,602,556

1,422,334

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,617,559

1,449,031

PROVISIONS FOR LIABILITIES

8

(6,030

)

(6,622

)

NET ASSETS

1,611,529

1,442,409

CAPITAL AND RESERVES

Called up share capital

9

50,000

Capital redemption reserve

10

80,556

Retained earnings

10

1,480,973

1,311,853

SHAREHOLDERS' FUNDS

1,611,529

1,442,409

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 21 August 2025 and were signed on its behalf by:

Mrs D Harrison - Director

1.	STATUTORY INFORMATION

Peter Ambrose (Castleford) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company operates a car showroom for the sale of new and used vehicles with additional automotive related products and services. Sales of goods are recognised on sale to the customer, which is considered the point of delivery. Retail sales are usually by cash, credit or payment card.

Tangible fixed assets

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

Plant and machinery

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

465,094

Additions

6,080

At 31 December 2024

471,174

DEPRECIATION

At 1 January 2024

438,397

Charge for year

17,774

At 31 December 2024

456,171

NET BOOK VALUE

At 31 December 2024

15,003

At 31 December 2023

26,697

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

845,478

1,944,016

Other debtors

500,000

Prepayments

46,126

46,302

1,391,604

2,490,318

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

495,880

572,254

Amounts owed to group undertakings

479,545

1,418,883

Tax

93,285

62,297

VAT

91,901

135,905

Other creditors

459,441

421,973

Accrued expenses

1,261,816

1,064,648

2,881,868

3,675,960

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

Within one year

58,589

177,652

Between one and five years

23,963

449,034

In more than five years

868,416

426,617

950,968

1,053,303

8.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

Accelerated capital allowances

6,030

6,622

Deferred

tax

£

Balance at 1 January 2024

6,622

Credit to Income Statement during year

(592

)

Balance at 31 December 2024

6,030

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

50,000

Ordinary

1

50,000

10.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

At 1 January 2024

1,311,853

80,556

1,392,409

Profit for the year

269,120

Dividends

(100,000

)

(100,000

)

At 31 December 2024

1,480,973

80,556

1,561,529

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Craig Peter Fishwick FCCA (Senior Statutory Auditor)

for and on behalf of Mayes Business Partnership Limited

12.	CONTINGENT LIABILITIES

The company entered into a cross guarantee and debenture with their bankers on 16 April 2010, covering any and all debts of itself and Alphamore Corporation Limited. There are no such borrowings at this time.

The company had previously provided PSA Wholesale Limited with a debenture on 15 November 2005, covering any and all debts due to PSA Wholesale Limited. The relevant debt is contained within trade creditors.

During the year as a result of the company being owned through an employee benefit trust the company placed a £500,000 deposit with PSA Wholesale Limited as extra security for credit facilities advanced. This deposit is shown under other debtors in the balance sheet.

13.	RELATED PARTY DISCLOSURES

The company is charged a management charge by its holding company, Alphamore Corporation Ltd, amounting to £70,752 (2023 - £108,166).

A final dividend has been paid, amounting to £100,000 this year (2023- £1,000,000), to the holding company.

At the balance sheet date there was a balance owing to Alphamore Corporation Ltd amounting to £489,635 (2023 - £1,418,882).

14.	ULTIMATE CONTROLLING PARTY

Their is no ultimate controlling party of the company.

Alphamore Corporation Limited owns 100% of the share capital of the company and prepares consolidated financial statements including these results.

The registered office address of Alphamore Corporation Limited is the same registered office address as for Peter Ambrose (Castleford) Limited

Alphamore Corporation Limited is itself controlled by the Peter Ambrose (Castleford) Employee Ownership Trust.