REGISTERED NUMBER: 15408734 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

12 JANUARY 2024 TO 31 JANUARY 2025

FOR

UNDERWOOD MOTOR COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D M Underwood

SECRETARY:

T Underwood

REGISTERED OFFICE:

Easons Farmhouse

Palehouse Common

Uckfield

TN22 5RB

REGISTERED NUMBER:

15408734 (England and Wales)

ACCOUNTANTS:

Watson Associates

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

66,663

CURRENT ASSETS

Debtors

5

43,135

Cash at bank

517

43,652

CREDITORS

Amounts falling due within one year

6

(80,764

)

NET CURRENT LIABILITIES

(37,112

)

TOTAL ASSETS LESS CURRENT LIABILITIES

29,551

CREDITORS

Amounts falling due after more than one year

7

(37,445

)

NET LIABILITIES

(7,894

)

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

(7,994

)

SHAREHOLDERS' FUNDS

(7,894

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2025 and were signed by:

D M Underwood - Director

1.	STATUTORY INFORMATION

Underwood Motor Company 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.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

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.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only 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.

Taxation

Taxation for the period 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 period 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.

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 period was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

Additions

58,115

12,363

70,478

At 31 January 2025

58,115

12,363

70,478

DEPRECIATION

Charge for period

3,315

500

3,815

At 31 January 2025

3,315

500

3,815

NET BOOK VALUE

At 31 January 2025

54,800

11,863

66,663

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

Plant and

machinery

£

COST

Additions

55,475

At 31 January 2025

55,475

DEPRECIATION

Charge for period

3,192

At 31 January 2025

3,192

NET BOOK VALUE

At 31 January 2025

52,283

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

43,135

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Hire purchase contracts

9,986

Trade creditors

1,379

Other creditors

69,399

80,764

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

37,445

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Hire purchase contracts

47,431

9.	DEFERRED TAX

£

Credit to Income Statement during period

(2,665

)

Balance at 31 January 2025

(2,665

)

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

40

Ordinary A

£1

40

30

Ordinary B

£1

30

30

Ordinary C

£1

30

100

The following shares were allotted and fully paid for cash at par during the period:

40 Ordinary A shares of £1 each

30 Ordinary B shares of £1 each

30 Ordinary C shares of £1 each