Company registration number 04024802 (England and Wales)
LEEDS MOTOR CO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
LEEDS MOTOR CO LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
1
1
Tangible assets
5
746,709
780,069
Investment properties
6
1,336,577
1,366,577
2,083,287
2,146,647
Current assets
Stocks
1,469,209
2,095,427
Debtors
7
171,883
14,711
Cash and cash equivalents
1,027,459
993,497
2,668,551
3,103,635
Creditors: amounts falling due within one year
8
(167,166)
(489,661)
Net current assets
2,501,385
2,613,974
Total assets less current liabilities
4,584,672
4,760,621
Provisions for liabilities
10
(19,128)
(20,453)
Net assets
4,565,544
4,740,168
Capital and reserves
Called up share capital
2
2
Investment property reserves
107,620
107,620
Distributable profit and loss reserves
4,457,922
4,632,546
Total equity
4,565,544
4,740,168

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

LEEDS MOTOR CO LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 1 October 2025
M Hartley
Director
Company Registration No. 04024802
LEEDS MOTOR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Leeds Motor Co Limited (the "Company") is a private company limited by shares incorporated in England and Wales, registered number 04024802. The registered office is 433 Kirkstall Road, Leeds, LS4 2QD.

1.1
Reporting period

The company's period has been extended to 17 months, ending 30 April 2025.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line
Plant and machinery
25% reducing balance
Office equipment
15% reducing balance
Motor vehicles
25% straight line
LEEDS MOTOR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Investment properties

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Investment properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance sheet date.

Revaluation gains and losses are recognised in the Statement of comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or los s.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

1.9
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 current liabilities.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

LEEDS MOTOR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LEEDS MOTOR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

LEEDS MOTOR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 7 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Investment property

The director provides annual valuations in respect of the company's investment property. These valuations are made on an open market value for existing use basis and requires judgement. The director is not a qualified surveyor but is an experienced residential landlord.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2023
Number
Number
Total
24
22
4
Intangible fixed assets
Goodwill
£
Cost
At 1 December 2023 and 30 April 2025
1
Amortisation and impairment
At 1 December 2023 and 30 April 2025
-
0
Carrying amount
At 30 April 2025
1
At 30 November 2023
1
LEEDS MOTOR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 8 -
5
Tangible fixed assets
Freehold land and buildings
Plant and machinery
Office equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2023
951,852
100,157
11,566
2,583
1,066,158
Additions
-
0
2,520
-
0
-
0
2,520
At 30 April 2025
951,852
102,677
11,566
2,583
1,068,678
Depreciation and impairment
At 1 December 2023
197,181
77,141
9,184
2,583
286,089
Depreciation charged in the period
26,969
8,405
506
-
0
35,880
At 30 April 2025
224,150
85,546
9,690
2,583
321,969
Carrying amount
At 30 April 2025
727,702
17,131
1,876
-
0
746,709
At 30 November 2023
754,671
23,016
2,382
-
0
780,069
6
Investment property
2025
£
Fair value
At 1 December 2023 and 30 April 2025
1,336,577

The 202 5 valuations were made by the director, on an open market value for existing use basis by reference to market evidence of transaction prices for similar properties.

7
Debtors
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
148,967
-
0
Other debtors
17,018
1,768
Prepayments
5,898
12,943
171,883
14,711
LEEDS MOTOR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 9 -
8
Creditors: amounts falling due within one year
2025
2023
£
£
Corporation tax
39,806
214,169
Other taxation and social security
114,692
113,193
Other creditors
4,455
156,096
Accruals
8,213
6,203
167,166
489,661
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2023
Balances:
£
£
Accelerated capital allowances
3,332
4,657
Revaluation of properties
15,796
15,796
19,128
20,453
2025
Movements in the period:
£
Liability at 1 December 2023
20,453
Credit to profit or loss
(1,325)
Liability at 30 April 2025
19,128
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2023
£
£
Within one year
48,000
48,000
Between two and five years
192,000
192,000
In over five years
8,000
76,000
248,000
316,000
LEEDS MOTOR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 10 -
11
Related party transactions

During the period, the company advanced the director £1,036,008 (202 3 - £210,435) and the director repaid the company £883,409 (202 3 - £378,477). All advances are made interest free and are repayable on demand.

The following amounts were outstanding at the reporting end date:

2025
2023
Amounts due to related parties
£
£
M Hartley
1,393
153,992
2025-04-30 2023-12-01 false false false 01 October 2025 CCH Software CCH Accounts Production 2025.200 sale of used cars and rent from investment properties M Hartley C Gilpin 04024802 2023-12-01 2025-04-30 04024802 2025-04-30 04024802 2023-11-30 04024802 core:Goodwill 2025-04-30 04024802 core:Goodwill 2023-11-30 04024802 core:LandBuildings core:OwnedOrFreeholdAssets 2025-04-30 04024802 core:PlantMachinery 2025-04-30 04024802 core:FurnitureFittings 2025-04-30 04024802 core:MotorVehicles 2025-04-30 04024802 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 04024802 core:PlantMachinery 2023-11-30 04024802 core:FurnitureFittings 2023-11-30 04024802 core:MotorVehicles 2023-11-30 04024802 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-30 04024802 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 04024802 core:CurrentFinancialInstruments 2025-04-30 04024802 core:CurrentFinancialInstruments 2023-11-30 04024802 core:ShareCapital 2025-04-30 04024802 core:ShareCapital 2023-11-30 04024802 core:RevaluationReserve 2025-04-30 04024802 core:RevaluationReserve 2023-11-30 04024802 core:RetainedEarningsAccumulatedLosses 2025-04-30 04024802 core:RetainedEarningsAccumulatedLosses 2023-11-30 04024802 bus:Director1 2023-12-01 2025-04-30 04024802 core:Goodwill 2023-12-01 2025-04-30 04024802 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-01 2025-04-30 04024802 core:PlantMachinery 2023-12-01 2025-04-30 04024802 core:FurnitureFittings 2023-12-01 2025-04-30 04024802 core:MotorVehicles 2023-12-01 2025-04-30 04024802 2022-12-01 2023-11-30 04024802 core:Goodwill 2023-11-30 04024802 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 04024802 core:PlantMachinery 2023-11-30 04024802 core:FurnitureFittings 2023-11-30 04024802 core:MotorVehicles 2023-11-30 04024802 2023-11-30 04024802 core:WithinOneYear 2025-04-30 04024802 core:WithinOneYear 2023-11-30 04024802 core:BetweenTwoFiveYears 2025-04-30 04024802 core:BetweenTwoFiveYears 2023-11-30 04024802 core:MoreThanFiveYears 2025-04-30 04024802 core:MoreThanFiveYears 2023-11-30 04024802 bus:PrivateLimitedCompanyLtd 2023-12-01 2025-04-30 04024802 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2025-04-30 04024802 bus:FRS102 2023-12-01 2025-04-30 04024802 bus:AuditExemptWithAccountantsReport 2023-12-01 2025-04-30 04024802 bus:CompanySecretary1 2023-12-01 2025-04-30 04024802 bus:FullAccounts 2023-12-01 2025-04-30 xbrli:pure xbrli:shares iso4217:GBP