DRIVERS OF PRESTATYN LIMITED

Unaudited Financial Statements

for the Year Ended 31st December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B Jones

R M Thomas

Ms K A Jones

M Edgley

SECRETARY:

B Jones

REGISTERED OFFICE:

Allt Voise Farm

Northop Road

Flint Mountain

Flint

Flintshire

CH6 5QG

REGISTERED NUMBER:

01992376 (England and Wales)

ACCOUNTANTS:

DJH Wirral & Chester Limited

1 Abbots Quay

Monks Ferry

Birkenhead

CH41 5LH

FIXED ASSETS

Tangible assets

4

1,031,029

1,071,902

CURRENT ASSETS

Stocks

5

280,000

985,920

Debtors

6

300,188

217,072

Cash at bank and in hand

982,985

1,093,150

1,563,173

2,296,142

CREDITORS

Amounts falling due within one year

7

168,427

714,231

NET CURRENT ASSETS

1,394,746

1,581,911

TOTAL ASSETS LESS CURRENT LIABILITIES

2,425,775

2,653,813

CREDITORS

Amounts falling due after more than one year

8

-

446,892

NET ASSETS

2,425,775

2,206,921

CAPITAL AND RESERVES

Called up share capital

22,051

22,051

Fair value reserve

347,784

347,784

Capital redemption reserve

17,950

17,950

Retained earnings

2,037,990

1,819,136

SHAREHOLDERS' FUNDS

2,425,775

2,206,921

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Income Statement has not been delivered.

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

B Jones - Director

1.	STATUTORY INFORMATION

Drivers of Prestatyn 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 as modified by the revaluation of certain assets.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The areas in the financial statements where these judgements and estimates have been made include:

The useful economic lives and residual values of fixed assets are assessed by management on a timely basis.

Provisions against vehicle stock may be required to ensure amounts held in the balance sheet for such stock accurately record the stock value at the year end, with any reduction in value sent to the Income Statement in the period the value reduction was incurred.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

at varying rates on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

at varying rates on cost

Computer equipment

-

25% 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

The company enters into basic financial instruments 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.

Intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Finance costs

Finance costs are recognised in the period in which they are incurred.

Cash and cash equivalents

Cash is represented by cash in hand.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

£

£

£

COST OR VALUATION

At 1st January 2024

1,028,763

151,704

662,314

Disposals

-

(151,704

)

(662,314

)

At 31st December 2024

1,028,763

-

-

DEPRECIATION

At 1st January 2024

-

151,704

625,968

Charge for year

-

-

1,244

Eliminated on disposal

-

(151,704

)

(627,212

)

At 31st December 2024

-

-

-

NET BOOK VALUE

At 31st December 2024

1,028,763

-

-

At 31st December 2023

1,028,763

-

36,346

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1st January 2024

17,000

111,026

1,970,807

Disposals

-

(111,026

)

(925,044

)

At 31st December 2024

17,000

-

1,045,763

DEPRECIATION

At 1st January 2024

14,592

106,641

898,905

Charge for year

142

138

1,524

Eliminated on disposal

-

(106,779

)

(885,695

)

At 31st December 2024

14,734

-

14,734

NET BOOK VALUE

At 31st December 2024

2,266

-

1,031,029

At 31st December 2023

2,408

4,385

1,071,902

Tangible Assets at 31st December 2024 are represented by:

Land and

Plant and

Buildings

machinery etc

Totals

£

£

£

Valuation increase as at 31st December 2015

347,784

-

347,784

Original cost

680,979

17,000

697,979

Additions

-

1,028,763

17,000

1,045,763

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Motor

vehicles

£

COST OR VALUATION

At 1st January 2024

17,000

Transfer to ownership

(17,000

)

At 31st December 2024

-

DEPRECIATION

At 1st January 2024

14,592

Transfer to ownership

(14,592

)

At 31st December 2024

-

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

2,408

5.

STOCKS

2024

2023

£

£

Goods for resale

280,000

985,920

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

33,454

149,241

Other debtors

266,734

67,831

300,188

217,072

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

122,714

Trade creditors

(5,790

)

263,387

Taxation and social security

122,495

106,388

Other creditors

51,722

221,742

168,427

714,231

Consignment vehicles which bear interest are regarded effectively as being under the control of the company and are included within stocks on the balance sheet, although legal title has not passed to the company. The corresponding liability is included within trade creditors and is secured directly on these vehicles.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

-

446,892

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

-

172,198

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

-

569,606

Hire purchase liabilities are secured by the assets to which they relate.

10.	RELATED PARTY DISCLOSURES

Included in other debtors is the sum of £256,274 (2023 - £24) being the balance of loans made to a company in which two of the company's directors and shareholders are also directors and shareholders.

Included in other creditors is a balance of £nil (2023 - £114,533) owing to the directors of the company.