REGISTERED NUMBER: 09335578 (England and Wales)

BLIGHTS MOTORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T D Blight

N Blight

J Blight

REGISTERED OFFICE:

Handy Cross

Clovelly Road

Bideford

DEVON

EX39 3ET

REGISTERED NUMBER:

09335578 (England and Wales)

ACCOUNTANTS:

Jane Maynard Limited

T/A Maynard Johns

37 Mill Street

Bideford

DEVON

EX39 2JJ

FIXED ASSETS

Tangible assets

4

992,195

1,006,179

Investment property

5

500,000

500,000

1,492,195

1,506,179

CURRENT ASSETS

Stocks

1,140,066

1,428,095

Debtors

6

158,810

248,013

Cash at bank and in hand

225,920

246,329

1,524,796

1,922,437

CREDITORS

Amounts falling due within one year

(1,014,611

)

(1,425,702

)

NET CURRENT ASSETS

510,185

496,735

TOTAL ASSETS LESS CURRENT LIABILITIES

2,002,380

2,002,914

CREDITORS

Amounts falling due after more than one year

7

(159,078

)

(204,144

)

PROVISIONS FOR LIABILITIES

(54,740

)

(55,900

)

NET ASSETS

1,788,562

1,742,870

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Share premium

1,298,211

1,298,211

Revaluation reserve

9

96,294

95,632

Retained earnings

384,057

339,027

SHAREHOLDERS' FUNDS

1,788,562

1,742,870

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 September 2025 and were signed on its behalf by:

T D Blight - Director

1.	STATUTORY INFORMATION

Blights Motors 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 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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost, 25% on reducing balance 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 are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 January 2024

1,219,432

Additions

23,626

At 31 December 2024

1,243,058

DEPRECIATION

At 1 January 2024

213,253

Charge for year

37,610

At 31 December 2024

250,863

NET BOOK VALUE

At 31 December 2024

992,195

At 31 December 2023

1,006,179

Cost or valuation at 31 December 2024 is represented by:

Totals

£

Valuation in 2018

58,991

Valuation in 2022

45,259

Valuation in 2023

3,067

Cost

1,135,741

1,243,058

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

992,683

992,683

Aggregate depreciation

173,721

153,867

Value of land in freehold land and buildings

818,962

838,816

Freehold land and buildings were valued on an open market basis on 9 February 2024 by J Doble of JD Commercial Property Ltd .

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

Totals

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

12,700

DEPRECIATION

At 1 January 2024

8,682

Charge for year

1,004

At 31 December 2024

9,686

NET BOOK VALUE

At 31 December 2024

3,014

At 31 December 2023

4,018

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

500,000

NET BOOK VALUE

At 31 December 2024

500,000

At 31 December 2023

500,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2020

100,000

Cost

400,000

500,000

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

2024

2023

£

£

Cost

400,000

400,000

Investment property was valued on an open market basis on 26 September 2024 by L Childs of Regency Estate Agents .

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other debtors

28,765

30,540

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2024

2023

£

£

Repayable by instalments

Bank loans more 5 yr by instal

20,404

43,657

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

210,183

253,027

Included in the total bank borrowings at the year end is £180,778 (2023 £218,194) on which the following security has been provided.

A legal charge over the company's freehold property.

An unlimited company Debenture.

9.

RESERVES

Revaluation

reserve

£

At 1 January 2024

95,632

Deferred tax on revalued

property

662

At 31 December 2024

96,294

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

N Blight

Balance outstanding at start of year

74,653

69,974

Amounts advanced

6,267

7,372

Amounts repaid

(80,920

)

(2,693

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

74,653

T D Blight

Balance outstanding at start of year

2,006

12,891

Amounts advanced

1,484

1,141

Amounts repaid

(3,490

)

(12,026

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

2,006

J Blight

Balance outstanding at start of year

11,124

10,582

Amounts advanced

4,183

12,567

Amounts repaid

(15,307

)

(12,025

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

11,124

The company has charged interest on loans to the directors at the rate of 2.25% per annum. The amount unpaid at the year end is £1,689.