REGISTERED NUMBER: 05204047 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EUROFIXAUTO UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

I J Pugh

T W Scharnberg

REGISTERED OFFICE:

Lyndale House Ervington Court

Meridian Business Park

Leicester

LE19 1WL

REGISTERED NUMBER:

05204047 (England and Wales)

AUDITORS:

Magma Audit LLP (part of the Dains Group)

Chartered Accountants

Statutory Auditor

Unit 2, Charnwood Edge Business Park

Syston Road

Leicestershire

LE7 4UZ

CURRENT ASSETS

Debtors

4

1,175,338

1,337,252

Cash at bank

284,667

374,994

1,460,005

1,712,246

CREDITORS

Amounts falling due within one year

5

(1,274,412

)

(1,482,382

)

NET CURRENT ASSETS

185,593

229,864

TOTAL ASSETS LESS CURRENT LIABILITIES

185,593

229,864

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

184,593

228,864

185,593

229,864

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 Statement of Income and Retained Earnings 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:

I J Pugh - Director

1.	STATUTORY INFORMATION

Eurofixauto Uk Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is Lyndale House Ervington Court, Meridian Business Park, Leicester, LE19 1WL and the registered number is 05204047.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors believe that the company will remain profitable going forward and has sufficient resources to meet its liabilities for at least twelve months from signing these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- The amount of turnover can be measured reliably;

- It is probable that the company will receive the consideration due under the contract;

- The stage of completion of the contract at the end of the reporting period can be measured reliably; and

- The costs incurred and the costs to complete the contract can be measured reliably.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 profit or loss.

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.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors

Basic financial assets, including trade and other debtors, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

370,497

610,105

Amounts owed by group undertakings

176,258

168,886

Prepayments and accrued income

628,583

558,261

1,175,338

1,337,252

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

164,456

99,330

Amounts owed to group undertakings

220,045

741,508

Corporation tax

1,640

1,645

Social security and other taxes

45,949

352

Other creditors

187,885

116,882

Accruals and deferred income

654,437

522,665

1,274,412

1,482,382

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

The Report of the Auditors was unqualified.

Luke Turner FCA FCCA (Senior Statutory Auditor)

for and on behalf of Magma Audit LLP (part of the Dains Group)

7.	CONTINGENT LIABILITIES

At the balance sheet date, the company was evaluating whether withholding tax is payable on certain royalties paid by the company to overseas entities in the year and prior periods. At the date of the approval of the accounts the directors had engaged the services of professional tax advisors to review and conclude on whether a liability exists. The directors are of the opinion that if tax is due, it will be substantially recoverable from the overseas entity following it being reclaimed by them. As such the obligation cannot be measured with sufficient reliability at this time.

8.	RELATED PARTY DISCLOSURES

Advantage Parts Solutions Limited, Manette Limited and Commuto UK Limited are companies that are under common ownership with Eurofixauto UK Limited.

During the year the company made purchases of £8,089,399 (2023: 8,911,278) and had recharges of £418,455 (2023: £4,854,054) from Manette Limited. At 31 December 2024 £82,693 (2023: £537,488) was due to Manette Limited.

At 31 December 2024 £176,258 (2023: £168,886) was due from Commuto UK Limited.

During the year the company made purchases of £1,698,341 (2023: £2,003,717) from Advantage Parts Solutions Limited that were recharged onto the franchisees. At 31 December 2024 £137,352 (2023: £204,020) was due from the company to Advantage Parts Solutions Limited.

Income from related parties

During the year the company received recharged expenses of £97,472 (2023: £6,491) and paid recharged expenses of £438,378 (2023: £4,867,860) from entities under common ownership.

9.	POST BALANCE SHEET EVENTS

Subsequent to the balance sheet date, a new holding company was inserted above Eurofixauto UK Limited and Manette Limited. Once part of a corporate group the shares in Manette Limited were acquired by Eurofixauto UK Limited so that Manette Limited became a subsidiary of Eurofixauto UK Limited. The trade and assets of Manette Limited were then transferred to Eurofixauto UK Limited by way of a distribution in specie.