REGISTERED NUMBER: 00672039 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EVERTON GARAGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J R Willson

S Willson

SECRETARY:

REGISTERED OFFICE:

Old Christchurch Road

Everton

Lymington

Hampshire

SO41 0JJ

REGISTERED NUMBER:

00672039 (England and Wales)

ACCOUNTANTS:

David Shores & Co Ltd

36a Station Road

New Milton

Hampshire

BH25 6JX

FIXED ASSETS

Tangible assets

4

1,121,253

1,160,607

Investment property

5

1,047,284

1,047,284

2,168,537

2,207,891

CURRENT ASSETS

Stocks

2,025,639

1,977,084

Debtors

6

87,114

69,035

Cash at bank

419,158

69,577

2,531,911

2,115,696

CREDITORS

Amounts falling due within one year

7

1,567,662

1,302,166

NET CURRENT ASSETS

964,249

813,530

TOTAL ASSETS LESS CURRENT LIABILITIES

3,132,786

3,021,421

PROVISIONS FOR LIABILITIES

8

31,558

35,338

NET ASSETS

3,101,228

2,986,083

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Revaluation reserve

63,970

63,970

Retained earnings

3,032,258

2,917,113

3,101,228

2,986,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

S Willson - Director

1.	STATUTORY INFORMATION

Everton Garage 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents sales to external customers at invoiced amounts less value added tax or local taxes on sales.

Sales of motor vehicles, parts and accessories are recognised on the earlier of the full payment or delivery to the customer.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance, 15% on cost and 15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Where the nature of the agreement with the manufacturer confers the benefit and associated risk of ownership to the company on consignment, such stock and the corresponding creditor are included on the balance sheet although legal title remains with the supplier until sold.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Government grants accounting policy

Revenue grants are recognised on an accrual's basis over the periods in which the company recognises the related costs.

Financial instruments

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

Financial assets 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 income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Employment benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Provisions

Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

1,304,573

241,422

1,545,995

Additions

-

1,803

1,803

At 31 December 2024

1,304,573

243,225

1,547,798

DEPRECIATION

At 1 January 2024

201,490

183,898

385,388

Charge for year

22,771

18,386

41,157

At 31 December 2024

224,261

202,284

426,545

NET BOOK VALUE

At 31 December 2024

1,080,312

40,941

1,121,253

At 31 December 2023

1,103,083

57,524

1,160,607

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

1,047,284

NET BOOK VALUE

At 31 December 2024

1,047,284

At 31 December 2023

1,047,284

Cost or valuation at 31 December 2024 is represented by:

£

Valuation in 2023

85,293

Cost

961,991

1,047,284

If the investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

961,991

961,991

Investment property was valued on an open market basis on 31 December 2024 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

24,345

36,122

Amounts owed by group undertakings

10,763

10,763

Other debtors

52,006

22,150

87,114

69,035

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,401,898

1,137,280

Taxation and social security

121,782

143,944

Other creditors

43,982

20,942

1,567,662

1,302,166

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Other timing differences

21,323

21,323

Deferred tax

10,235

14,015

31,558

35,338

Deferred

tax

£

Balance at 1 January 2024

35,338

Utilised during year

(3,780

)

Revaluation reserve

Balance at 31 December 2024

31,558

9.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Everton Garage (Holdings) Limited, a company registered in England and Wales. The ultimate controlling party is John Willson.

Dividends paid to the holding company amounts to £102,000 (2023 - £72,000)