REGISTERED NUMBER: 02806293 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Ames Nissan Limited

Trading as

Ames Ford

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

8

DIRECTORS:

G J Balaam

R C Ames

Mrs T Ames

SECRETARY:

G J Balaam

REGISTERED OFFICE:

2 Fison Way

Thetford

Norfolk

IP24 1HT

REGISTERED NUMBER:

02806293 (England and Wales)

SENIOR STATUTORY AUDITOR:

James Knights FCA

AUDITORS:

Knights Lowe Limited

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

4

174,471

177,705

CURRENT ASSETS

Stocks

5

195,024

243,527

Debtors

6

179,852

109,059

Cash in hand

1,774

4,126

376,650

356,712

CREDITORS

Amounts falling due within one year

7

1,542,640

1,439,551

NET CURRENT LIABILITIES

(1,165,990

)

(1,082,839

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(991,519

)

(905,134

)

CAPITAL AND RESERVES

Called up share capital

9

500,000

500,000

Retained earnings

(1,491,519

)

(1,405,134

)

SHAREHOLDERS' FUNDS

(991,519

)

(905,134

)

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 15 September 2025 and were signed on its behalf by:

G J Balaam - Director

1.	STATUTORY INFORMATION

Ames Nissan 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The company has made a loss this financial year. The parent company, Sema Lease UK Limited, remains committed to supporting the business and has the necessary resources to do so. On this basis the directors do not consider there to be any material uncertainty with regards to the company continuing as a going concern.

Revenue recognition

The turnover shown in the profit and loss account represents the sale of motor vehicles, and the provision of servicing and repair work done during the year, exclusive of VAT.

Revenue from rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets

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

life.

Short leasehold

- 50 years straight line

Plant and machinery

- 15% to 25 % on reducing balance

Fixtures and fittings

- 5% on reducing balance

Computer equipment

- 10% straight line

Stocks

Vehicle stocks are valued at the lower of original cost, plus repair or improvement costs, and net realisable value.

Parts stocks are valued at the lower of cost and net realisable value, with net realisable value taking into account its value within the business. An allowance is made for obsolete and slow moving items.

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.

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.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial instruments

Financial assets and financial liabilities are recognised in accordance with FRS 102 when the company becomes a party to the contractual provisions of the instrument.

Currently all financial liabilities are basic financial instruments as defined by section 11 of FRS 102 which are recognised at amortised cost.

Where relevant, derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the profit or loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

229,020

358,101

587,121

Additions

-

10,767

10,767

Disposals

-

(85,674

)

(85,674

)

At 31 March 2025

229,020

283,194

512,214

DEPRECIATION

At 1 April 2024

128,338

281,078

409,416

Charge for year

5,291

8,710

14,001

Eliminated on disposal

-

(85,674

)

(85,674

)

At 31 March 2025

133,629

204,114

337,743

NET BOOK VALUE

At 31 March 2025

95,391

79,080

174,471

At 31 March 2024

100,682

77,023

177,705

5.

STOCKS

2025

2024

£

£

Parts and consumables

92,848

100,935

New, used and demonstrator vehicles

102,176

142,592

195,024

243,527

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

133,660

59,621

Other debtors

46,192

49,438

179,852

109,059

Included in other debtors is a directors loan of £32,877 (2024: £32,154) and interest has been charged at the official HMRC rate.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loan and overdraft

81,396

23,939

Trade creditors

93,621

135,108

Amounts owed to group undertakings

1,298,032

1,204,749

Taxation and social security

31,951

29,847

Other creditors

37,640

45,908

1,542,640

1,439,551

The bank loans and overdraft are secured by way of a fixed and floating charge over all assets and trade of the company.

8.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

1,068

1,000

Between one and five years

1,335

2,403

2,403

3,403

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary A

£1

1,000

1,000

499,000

Ordinary B

£1

499,000

499,000

500,000

500,000

The ordinary A shares contain the normal rights associated with ordinary shares.

The ordinary B shares contain no voting rights. No dividend rights, there is a right to capital in the event of a company sale or winding-up.

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

The Report of the Auditors was unqualified.

James Knights FCA (Senior Statutory Auditor)

for and on behalf of Knights Lowe Limited

11.	RELATED PARTY DISCLOSURES

During the year the company entered into transactions, in the ordinary course of business, with other related parties. Transactions entered into and balances outstanding at the year end were as follows:

Parent company - Sema Lease UK Limited

2025

2024

£

£

Balance owed to

1,298,032

1,204,749

Sales

39,727

22,094

Purchases

1,516,395

1,206,870

Interest is chargeable on the balance owed to the parent company. The parent company has waived the charge in the current and prior year.

Other related parties

R C Ames - Director

2025

2024

£

£

Balances owed from

32,877

32,154

R C Ames has given a personal guarantee to the company's bankers amounting to £100,000 in respect of the facilities provided to the company. The company's bankers also hold a legal charge over 2 Fison Way, Thetford which is owned by R C Ames. No rent has been charged by R C Ames on the property used by the company in the current year or prior year.

Other related companies are companies in which R C Ames both owns and controls. Loans made to these companies have no set repayment terms and no interest charged. The loans are repayable upon demand.