REGISTERED NUMBER: 05024764 (England and Wales)

BROWNING (MELTON MOWBRAY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

M Wilsher

R J Richards

W M Browning

REGISTERED OFFICE:

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

REGISTERED NUMBER:

05024764 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

FIXED ASSETS

Property, plant and equipment

4

26,352

23,344

CURRENT ASSETS

Inventories

864,663

785,105

Debtors

5

59,902

130,482

Cash at bank and in hand

246,683

227,736

1,171,248

1,143,323

CREDITORS

Amounts falling due within one year

6

782,815

798,787

NET CURRENT ASSETS

388,433

344,536

TOTAL ASSETS LESS CURRENT LIABILITIES

414,785

367,880

CAPITAL AND RESERVES

Called up share capital

8

60,000

60,000

Retained earnings

354,785

307,880

SHAREHOLDERS' FUNDS

414,785

367,880

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 Income Statement 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:

W M Browning - Director

1.	STATUTORY INFORMATION

Browning (Melton Mowbray) 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.

Revenue

Revenue represents amounts receivable for goods supplied and services provided, including finance commission earned net of trade discounts, VAT and other sales related taxes.

Sales of motor vehicles, parts and accessories are recognised on the earlier of full payment by, or delivery to, the customer together with the associated manufacturer vehicle bonus income. Any other manufacturer income in relation to achieving targets is recognised on an accruals basis. Servicing revenue is recognised on the completion of agreed work.

Property, plant and equipment

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

Plant and machinery etc

-

33% on cost and 25% on cost

Property, plant and equipment is stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Consignment vehicles

Consignment vehicles which bear considerably more of the risks and rewards of ownership are regarded as being under the control of the company and are included within inventories in the statement of financial position, although legal title has not passed to the company. The corresponding liability is included in creditors and is secured directly on these vehicles.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 January 2024

183,784

Additions

15,755

At 31 December 2024

199,539

DEPRECIATION

At 1 January 2024

160,440

Charge for year

12,747

At 31 December 2024

173,187

NET BOOK VALUE

At 31 December 2024

26,352

At 31 December 2023

23,344

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,954

74,845

Prepayments and accrued income

56,948

55,637

59,902

130,482

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

685,736

697,202

Taxation

18,405

24,790

Other taxes and social security

47,136

40,831

Accruals and deferred income

31,538

35,964

782,815

798,787

7.	SECURED DEBTS

Trade creditors includes £593,632 (2023 - £596,494) in respect of vehicles purchased from the manufacturer. This finance facility is secured on the assets to which it relates.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

60,000

Ordinary

£1

60,000

60,000

9.	OTHER FINANCIAL COMMITMENTS

The company has the following commitments:

2024

2023

£

£

Due in less than one year

48,000

48,000

Due between two and five years

151,680

192,000

Due in more than five years

-

7,680

199,680

247,680