Channel Motors Limited Company accounts

COMPANY REGISTRATION NUMBER: 01592477

Channel Motors Limited

Unaudited Financial Statements

31 March 2025

Channel Motors Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Director's report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	5

The following pages do not form part of the financial statements

Chartered accountants and business advisers report to the director on the preparation of the unaudited statutory financial statements	10

Channel Motors Limited

Director's Report

Year ended 31 March 2025

The director presents his report and the unaudited financial statements of the company for the year ended 31 March 2025 .

Director

The director who served the company during the year was as follows:

Ms A Baskeyfield

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 16 September 2025 and signed on behalf of the board by:

Ms A Baskeyfield
Director

Registered office:

Talwrn Lodge Farm

Higher Kinnerton

Chester

England

CH4 9BP

Channel Motors Limited

Statement of Income and Retained Earnings

Year ended 31 March 2025

	2025	2024
Note	£	£
Turnover	39,134	33,916

	--------	--------
Gross profit	39,134	33,916

Administrative expenses	83,136	( 133,398)
Other operating income	250	–
	--------	---------
Operating (loss)/profit	( 43,752)	167,314

Other interest receivable and similar income		1,573	973
		--------	---------
(Loss)/profit before taxation	5	( 42,179)	168,287

Tax on (loss)/profit	–	1,564
	--------	---------
(Loss)/profit for the financial year and total comprehensive income	( 42,179)	166,723
	--------	---------

Retained earnings at the start of the year	234,589	67,866
	---------	---------
Retained earnings at the end of the year	192,410	234,589
	---------	---------

All the activities of the company are from continuing operations.

Channel Motors Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	1,691	97
Investments	7	270,000	270,000
		---------	---------
		271,691	270,097

Current assets

Debtors	8	–	1,221
Cash at bank and in hand		36,512	80,228
		--------	--------
		36,512	81,449

Creditors: amounts falling due within one year	9	114,793	115,957
		---------	---------
Net current liabilities		78,281	34,508
		---------	---------
Total assets less current liabilities		193,410	235,589
		---------	---------
Net assets		193,410	235,589
		---------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	192,410	234,589
	---------	---------
Shareholders funds	193,410	235,589
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Channel Motors Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 16 September 2025 , and are signed on behalf of the board by:

Ms A Baskeyfield
Director

Company registration number: 01592477

Channel Motors Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Talwrn Lodge Farm, Higher Kinnerton, Chester, CH4 9BP, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	1% straight line
Equipment	-	15% reducing balance

Investments

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Financial instruments

The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an an impairment loss is recognised in the statement of Income and Retained Earnings.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Profit before taxation

Profit before taxation is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	298	17
Fair value adjustments to investment property	–	( 160,071)
	----	---------

6. Tangible assets

	Equipment
	£
Cost
At 1 April 2024	11,389
Additions	1,892
	--------
At 31 March 2025	13,281
	--------
Depreciation
At 1 April 2024	11,292
Charge for the year	298
	--------
At 31 March 2025	11,590
	--------
Carrying amount
At 31 March 2025	1,691
	--------
At 31 March 2024	97
	--------

7. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024 and 31 March 2025	270,000
	---------
Impairment
At 1 April 2024 and 31 March 2025	–
	---------

Carrying amount
At 31 March 2025	270,000
	---------
At 31 March 2024	270,000
	---------

8. Debtors

	2025	2024
	£	£
Trade debtors	–	1,221
	----	-------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Social security and other taxes	–	1,564
Other creditors	114,793	114,393
	---------	---------
	114,793	115,957
	---------	---------

10. Director's advances, credits and guarantees

The director operated a loan account with the company during the year. The opening balance was £113,540 (2024 £112,787) with movement in the year of £312 and a closing balance as £113,852 owed to the director at the year-end (2024 £113,540). The loan is interest free and repayable upon demand.

Channel Motors Limited

Management Information

Year ended 31 March 2025

The following pages do not form part of the financial statements.

Channel Motors Limited

Chartered Accountants and Business Advisers Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Channel Motors Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Channel Motors Limited for the year ended 31 March 2025, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Channel Motors Limited in accordance with the terms of our engagement letter dated 10 October 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Channel Motors Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Channel Motors Limited and its director for our work or for this report.

It is your duty to ensure that Channel Motors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Channel Motors Limited. You consider that Channel Motors Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Channel Motors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BRUCE ROBERTS & CO LIMITED Chartered Accountants and Business Advisers

Unit 10, Edison Court Ellice Way Wrexham Technology Park Wrexham LL13 7YT

16 September 2025