Company No: 10242368 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	802,425		829,979
		802,425		829,979
Current assets
Stocks		1,116,705		830,155
Debtors	4	592,034		659,262
Cash at bank and in hand		157,101		132,066
		1,865,840		1,621,483
Creditors: amounts falling due within one year	5	( 1,954,245)		( 1,788,495)
Net current liabilities		(88,405)		(167,012)
Total assets less current liabilities		714,020		662,967
Creditors: amounts falling due after more than one year	6	( 9,790)		( 27,233)
Provision for liabilities	7	( 50,920)		( 80,646)
Net assets		653,310		555,088
Capital and reserves
Called-up share capital	8	200,100		200,100
Profit and loss account		453,210		354,988
Total shareholders' funds		653,310		555,088

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Main Road Motor Company Limited (registered number: 10242368) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

N Poraj-Wilczynski Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Main Road Motor Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Main Road Motor Company Main Road, Hallow, Worcester, WR2 6LB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are 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. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	5 years straight line
Fixtures and fittings	5 - 10 years straight line
Office equipment	5 years straight line
Computer equipment	3 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	13		13

3. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Office equipment		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2024	875,000		31,221		43,830		9,254		29,047		988,352
Additions	0		3,552		0		0		0		3,552
At 31 December 2024	875,000		34,773		43,830		9,254		29,047		991,904
Accumulated depreciation
At 01 January 2024	87,500		17,016		26,830		8,734		18,293		158,373
Charge for the financial year	17,500		5,449		4,938		314		2,905		31,106
At 31 December 2024	105,000		22,465		31,768		9,048		21,198		189,479
Net book value
At 31 December 2024	770,000		12,308		12,062		206		7,849		802,425
At 31 December 2023	787,500		14,205		17,000		520		10,754		829,979

4. Debtors

	2024		2023
	£		£
Trade debtors	575,703		654,340
Prepayments and accrued income	16,331		4,030
Other debtors	0		892
	592,034		659,262

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	1,037,699		861,246
Amounts owed to directors	744,096		843,096
Other loans	17,060		19,844
Accruals	18,497		10,005
Taxation and social security	70,142		33,480
Other creditors	66,751		20,824
	1,954,245		1,788,495

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Other loans	9,790		27,233

There are no amounts included above in respect of which any security has been given by the small entity.

7. Provision for liabilities

	2024		2023
	£		£
Deferred tax	45,920		40,646
Product warranty provision	5,000		40,000
	50,920		80,646

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
200,100 Ordinary shares of £ 1.00 each	200,100		200,100

9. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Amounts owed to directors	744,096		843,096