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Company No: 04967333 (England and Wales)

# HOWARD MOTOR COMPANY LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

HOWARD MOTOR COMPANY LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

HOWARD MOTOR COMPANY LIMITED

## COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
HOWARD MOTOR COMPANY LIMITED

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

DIRECTOR | A Howard

REGISTERED OFFICE | Gazes Old House Lane
| Bisley
| Woking
| GU24 9DB
| United Kingdom

COMPANY NUMBER | 04967333 (England and Wales)

ACCOUNTANT | Shaw Gibbs Limited
| Wey Court West
| Union Road
| Farnham
| Surrey
| GU9 7PT

HOWARD MOTOR COMPANY LIMITED

## STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025
HOWARD MOTOR COMPANY LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

AS AT 31 MARCH 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 54,319 |  | 7,289
|  | 54,319 |  | 7,289
Current assets |  |  |  |
Stocks | 4 | 65,001 |  | 38,088
Debtors | 5 | 55,451 |  | 71,427
Cash at bank and in hand |  | 143,120 |  | 323,142
|  | 263,572 |  | 432,657
Creditors: amounts falling due within one year | 6 | ( 23,346) |  | ( 60,673)
Net current assets |  | 240,226 |  | 371,984
Total assets less current liabilities |  | 294,545 |  | 379,273
Creditors: amounts falling due after more than one year | 7 | ( 11,257) |  | 0
Net assets |  | 283,288 |  | 379,273
Capital and reserves |  |  |  |
Called-up share capital | 8 | 2 |  | 2
Profit and loss account |  | 283,286 |  | 379,271
Total shareholders' funds |  | 283,288 |  | 379,273

For the financial 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 financial year in accordance with section 476;
- The director acknowledges 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 Howard Motor Company Limited (registered number: 04967333) were approved and authorised for issue by the Director on 04 November 2025. They were signed on its behalf by:

A Howard Director |

HOWARD MOTOR COMPANY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
HOWARD MOTOR COMPANY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

##### 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

Howard 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 Gazes Old House Lane, Bisley, Woking, GU24 9DB, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.

##### 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.

##### Taxation

Current tax
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.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 5 years straight line
Vehicles | 25 % reducing balance
Fixtures and fittings | 5 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.
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.

##### Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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 payments 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. Amounts 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 2 |  | 3

#### 3. Tangible assets

| Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 April 2024 | 5,944 |  | 0 |  | 6,649 |  | 12,593
Additions | 0 |  | 52,746 |  | 964 |  | 53,710
At 31 March 2025 | 5,944 |  | 52,746 |  | 7,613 |  | 66,303
Accumulated depreciation |  |  |  |  |  |  |
At 01 April 2024 | 3,974 |  | 0 |  | 1,330 |  | 5,304
Charge for the financial year | 795 |  | 4,395 |  | 1,490 |  | 6,680
At 31 March 2025 | 4,769 |  | 4,395 |  | 2,820 |  | 11,984
Net book value |  |  |  |  |  |  |
At 31 March 2025 | 1,175 |  | 48,351 |  | 4,793 |  | 54,319
At 31 March 2024 | 1,970 |  | 0 |  | 5,319 |  | 7,289

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 65,001 |  | 38,088

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 0 |  | 26,910
Amounts owed by director | 40,106 |  | 44,517
Accrued income | 15,345 |  | 0
| 55,451 |  | 71,427

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 7,304 |  | 6,300
Accruals | 3,169 |  | 3,168
Taxation and social security | 6,085 |  | 51,205
Obligations under finance leases and hire purchase contracts | 6,788 |  | 0
| 23,346 |  | 60,673

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts | 11,257 |  | 0

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

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 Ordinary share of £ 1.00 | 1 |  | 1
1 B Ordinary share of £ 1.00 | 1 |  | 1
| 2 |  | 2