REGISTERED NUMBER: 01650972 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RICHARD NASH CARS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R.P. Nash

Mrs L.J. Nash

J H Nash

REGISTERED OFFICE:

Second Floor South

The Fitted Rigging House

Anchor Wharf, The Historic Dockyard

Chatham

Kent

ME4 4TZ

REGISTERED NUMBER:

01650972 (England and Wales)

AUDITORS:

Carleys

Statutory Auditor

Second Floor South

The Fitted Rigging House

The Historic Dockyard

Chatham

Kent

ME4 4TZ

BANKERS:

Barclays Bank plc

PO Box 614

St Cuthberts House

7 Upper King Street

Norwich

Norfolk

BX3 2BB

FIXED ASSETS

Tangible assets

4

633,251

567,876

CURRENT ASSETS

Stocks

2,206,393

3,108,205

Debtors

5

168,019

159,943

Cash at bank and in hand

135,544

205,978

2,509,956

3,474,126

CREDITORS

Amounts falling due within one year

6

2,256,019

2,997,617

NET CURRENT ASSETS

253,937

476,509

TOTAL ASSETS LESS CURRENT LIABILITIES

887,188

1,044,385

PROVISIONS FOR LIABILITIES

7

1,107

192

NET ASSETS

886,081

1,044,193

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

885,981

1,044,093

SHAREHOLDERS' FUNDS

886,081

1,044,193

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 25 September 2025 and were signed on its behalf by:

R.P. Nash - Director

1.	STATUTORY INFORMATION

Richard Nash Cars 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.

Tangible fixed assets

Tangible fixed assets are initially recognised at purchase cost. Purchase cost includes costs directly attributable to making the asset capable of operating as intended. Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Leasehold land and buildings - Straight line over 15 years

Plant and machinery etc - at varying rates on purchase cost

Freehold land and buildings are not depreciated. This represents a departure from the provisions of the Companies Act 2006. The company has a policy and practice of regular maintenance and repair, the charges for which are recognised in the income statement as incurred. The company believes that such a policy ensures that the residual value of its property at the balance sheet date is maintained at a level which is not materially different from the carrying amount of the asset. As such, no depreciation charge is made on the grounds that any such charge would be immaterial.

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

The company's accounting policies relating to financial instruments are as follows:-

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, less any impairment.

Creditors

Short term creditors are measured at the transaction price, less any impairment. Other financial liabilities, including short term loans, are measured initially at the transaction price, net of transaction costs, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice, and are measured at the transaction price.

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.

Warranties for cars sold

Warranty revenue is recognised on a daily basis over the period of cover. Warranty expenses are recognised as they are incurred.

Government grants

Grant income is recognised using the accrual model in the period in which it becomes receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

694,847

266,442

961,289

Additions

70,729

9,255

79,984

At 31 December 2024

765,576

275,697

1,041,273

DEPRECIATION

At 1 January 2024

131,791

261,622

393,413

Charge for year

9,938

4,671

14,609

At 31 December 2024

141,729

266,293

408,022

NET BOOK VALUE

At 31 December 2024

623,847

9,404

633,251

At 31 December 2023

563,056

4,820

567,876

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

31,131

13,908

Other debtors

136,888

146,035

168,019

159,943

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

17,148

181,652

Taxation and social security

105,190

105,522

Other creditors

2,133,681

2,710,443

2,256,019

2,997,617

7.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

1,107

192

Deferred

tax

£

Balance at 1 January 2024

192

Provided during year

915

Balance at 31 December 2024

1,107

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 January 2024

1,044,093

Deficit for the year

(158,112

)

At 31 December 2024

885,981

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

The Report of the Auditors was unqualified.

Claire M Ralph (Senior Statutory Auditor)

for and on behalf of Carleys

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

J H Nash

Balance outstanding at start of year

82,507

-

Amounts advanced

89,075

82,507

Amounts repaid

(84,347

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

87,235

82,507

The above loan has been repaid to the company since the year end.