REGISTERED NUMBER: 03606656 (England and Wales)

LLEWELLYNS GARAGE (BLACKWOOD) LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr D K Williams

REGISTERED OFFICE:

Reflectalux House

Avondale Way

Cwmbran

Gwent

NP44 1TS

REGISTERED NUMBER:

03606656 (England and Wales)

AUDITORS:

Bevan Buckland LLP (Statutory Auditors)

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

FIXED ASSETS

Tangible assets

4

642,072

650,020

CURRENT ASSETS

Stocks

89,784

127,223

Debtors

5

197,955

147,976

Cash at bank and in hand

958,575

958,625

1,246,314

1,233,824

CREDITORS

Amounts falling due within one year

6

233,206

349,346

NET CURRENT ASSETS

1,013,108

884,478

TOTAL ASSETS LESS CURRENT LIABILITIES

1,655,180

1,534,498

CREDITORS

Amounts falling due after more than one year

7

-

(792

)

PROVISIONS FOR LIABILITIES

(14,301

)

(13,559

)

NET ASSETS

1,640,879

1,520,147

CAPITAL AND RESERVES

Called up share capital

50,002

50,002

Share premium

200,000

200,000

Retained earnings

1,390,877

1,270,145

1,640,879

1,520,147

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 director and authorised for issue on 29 September 2025 and were signed by:

Mr D K Williams - Director

1.	STATUTORY INFORMATION

Llewellyns Garage (Blackwood) 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 directors have assessed the company’s financial position and future prospects and have concluded that there are no material uncertainties that cast significant doubt on the company’s ability to continue as a going concern for at least 12 months from the date of approval of the financial statements.

In making this assessment, the directors have considered all available information about the future, including forecasts of cash flows, liquidity, and the company’s access to financing. The company has adequate resources to meet its obligations as they fall due and continues to operate profitably. Accordingly, the going concern basis of accounting has been adopted in the preparation of these financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be measured reliably. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, VAT and other sales taxes.

Revenue relating to retail of goods is recognised at the point of sale.

Commission income is recognised in profit or loss in the same period as the transaction(s) to which it relates.

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.

Freehold property

-

2% on cost

Improvements to property

-

2% on cost

Fixtures and fittings

-

25% Reducing Balance

Freehold land is not depreciated.

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 group enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other receivables and payables, amounts due to and from related parties.

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debt instruments like loans and other receivables and payables 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 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 future payments 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 profit or loss. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying value and the present value of estimated cash flows discounted at the assets 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 the best estimate, which is an approximation, of the amount that the group would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount recognised 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. At each reporting date non-financial assets not carried at fair value, such as property, plant and equipment are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less costs to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

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.

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.

Payments in respect of other post-retirement benefits are charged to profit or loss in the period to which they relate.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Employee benefits

Short-term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2023

747,205

609,504

1,356,709

Additions

-

18,657

18,657

At 30 September 2024

747,205

628,161

1,375,366

DEPRECIATION

At 1 October 2023

233,027

473,662

706,689

Charge for year

9,809

16,796

26,605

At 30 September 2024

242,836

490,458

733,294

NET BOOK VALUE

At 30 September 2024

504,369

137,703

642,072

At 30 September 2023

514,178

135,842

650,020

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

Plant and

machinery

etc

£

COST

At 1 October 2023

and 30 September 2024

38,000

DEPRECIATION

At 1 October 2023

and 30 September 2024

19,742

NET BOOK VALUE

At 30 September 2024

18,258

At 30 September 2023

18,258

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

45,276

43,555

Amounts owed by group undertakings

126,113

77,184

Other debtors

26,566

27,237

197,955

147,976

Included within other debtors is a balance of £5,000 (2023: £nil) owed by the director to the company.

There has been no interest charged in relation to this balance.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

791

9,499

Trade creditors

133,336

179,920

Taxation and social security

53,607

119,257

Other creditors

45,472

40,670

233,206

349,346

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

792

8.	SECURED DEBTS

Barclays Plc hold two fixed and floating charges over all the property or undertaking of the company, as detailed in two Debenture and Cross Guarantees signed by the company in respect of secured debts of it's parent company, D. K. Forecourts Limited.

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

The Report of the Auditors was unqualified.

Alison Vickers (Senior Statutory Auditor)

for and on behalf of Bevan Buckland LLP (Statutory Auditors)

10.	ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of D. K. Forecourts Limited, a company registered in England and Wales.

The results for the company are included in the consolidated financial statements of the parent company, they may be obtained at the parent's registered address of Reflectalux House, Avondale Way, Cwmbran, Gwent, NP44 1TS.

The ultimate controlling party is Mr D K Williams, who owns 100% of the ordinary share capital of D. K. Forecourts Limited.