REGISTERED NUMBER: 05848380 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2024

for

WEYLINE CARS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Ferguson

K Keen

G C Walker

A K Nasir

SECRETARY:

I Ferguson

REGISTERED OFFICE:

4 Queen Street

Weymouth

Dorset

DT4 7HZ

REGISTERED NUMBER:

05848380 (England and Wales)

ACCOUNTANTS:

Creasey Alexander & Co

Chartered Accountants

Parkgate House

33a Pratt Street

London

NW1 0BG

FIXED ASSETS

Intangible assets

4

82,402

86,135

Tangible assets

5

939,432

1,015,094

Investments

6

50,500

50,500

1,072,334

1,151,729

CURRENT ASSETS

Debtors

7

579,166

470,384

Cash at bank and in hand

5,453

2,769

584,619

473,153

CREDITORS

Amounts falling due within one year

8

1,102,294

980,228

NET CURRENT LIABILITIES

(517,675

)

(507,075

)

TOTAL ASSETS LESS CURRENT LIABILITIES

554,659

644,654

CREDITORS

Amounts falling due after more than one year

9

943,397

884,060

NET LIABILITIES

(388,738

)

(239,406

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(388,838

)

(239,506

)

SHAREHOLDERS' FUNDS

(388,738

)

(239,406

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 30 October 2025 and were signed on its behalf by:

I Ferguson - Director

1.	STATUTORY INFORMATION

WEYLINE CARS 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.

Goodwill

Goodwill, being amounts paid in connection with the acquisition of businesses, is amortised over its estimated useful life.

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

-

not provided

Plant and machinery etc

-

33% on cost, 25% on cost, 10% on cost and not provided

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2023

297,750

Additions

4,000

At 31 October 2024

301,750

AMORTISATION

At 1 November 2023

211,615

Charge for year

7,733

At 31 October 2024

219,348

NET BOOK VALUE

At 31 October 2024

82,402

At 31 October 2023

86,135

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 November 2023

546,110

1,631,301

2,177,411

Additions

-

158,215

158,215

At 31 October 2024

546,110

1,789,516

2,335,626

DEPRECIATION

At 1 November 2023

-

1,162,317

1,162,317

Charge for year

-

233,877

233,877

At 31 October 2024

-

1,396,194

1,396,194

NET BOOK VALUE

At 31 October 2024

546,110

393,322

939,432

At 31 October 2023

546,110

468,984

1,015,094

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

Plant and

machinery

etc

£

COST

At 1 November 2023

810,193

Additions

102,249

Transfer to ownership

(93,413

)

At 31 October 2024

819,029

DEPRECIATION

At 1 November 2023

373,331

Charge for year

204,757

Transfer to ownership

(79,913

)

At 31 October 2024

498,175

NET BOOK VALUE

At 31 October 2024

320,854

At 31 October 2023

436,862

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2023

and 31 October 2024

50,500

NET BOOK VALUE

At 31 October 2024

50,500

At 31 October 2023

50,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Trade debtors

576,191

453,641

Other debtors

2,975

16,743

579,166

470,384

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans and overdrafts

31,201

37,688

Hire purchase contracts

207,225

205,285

Trade creditors

38,064

33,315

Amounts owed to group undertakings

663,645

486,653

Amounts owed to associates

97,450

187,050

Taxation and social security

11,478

12,922

Other creditors

53,231

17,315

1,102,294

980,228

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans

475,513

495,505

Hire purchase contracts

426,815

332,486

Other creditors

41,069

56,069

943,397

884,060

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

413,592

423,374

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.24

31.10.23

£

£

Bank overdrafts

11,080

17,836

Bank loans

495,634

515,357

506,714

533,193

Allica Bank holds first legal charges over the company's freehold property in relation to a loan.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is TCT Universal Holdings Limited.