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Registration number: 05770367

Liberty Autoworks Ltd
Annual Report and Unaudited Filleted Financial Statements
for the Year Ended 5 April 2025

Liberty Autoworks Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7

Liberty Autoworks Ltd

Company Information

Director | J O'Brien

Company secretary | Manningtons Ltd

Registered office | 8 High Street Heathfield East Sussex TN21 8LS

Accountants | Manningtons 8 High Street Heathfield East Sussex TN21 8LS

Liberty Autoworks Ltd

(Registration number: 05770367)
Balance Sheet as at 5 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 17,276 | 18,428
Current assets |  |  |
Stocks | 5 | 250 | 250
Cash at bank and in hand |  | 798 | 1,033
|  | 1,048 | 1,283
Creditors: Amounts falling due within one year | 6 | (12,756) | (10,491)
Net current liabilities |  | (11,708) | (9,208)
Total assets less current liabilities |  | 5,568 | 9,220
Creditors: Amounts falling due after more than one year | 6 | (2,559) | (6,596)
Net assets |  | 3,009 | 2,624
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Retained earnings |  | 3,008 | 2,623
Shareholders' funds |  | 3,009 | 2,624

For the financial year ending 5 April 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 accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 November 2025

......................................... J O'Brien Director

Liberty Autoworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
England

The principal place of business is:
Fairfield Farm
Tunbridge Wells Road
Rotherfield
East Sussex
TN6 3QH

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Liberty Autoworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and equipment | 10% reducing balance
Office equipment | 3 year straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.

Liberty Autoworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Liberty Autoworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Other tangible assets £ | Total £
Cost or valuation
At 6 April 2024 | 5,654 | 45,427 | 51,081
Additions | 433 | 446 | 879
At 5 April 2025 | 6,087 | 45,873 | 51,960
Depreciation
At 6 April 2024 | 5,654 | 26,999 | 32,653
Charge for the year | 144 | 1,887 | 2,031
At 5 April 2025 | 5,798 | 28,886 | 34,684
Carrying amount
At 5 April 2025 | 289 | 16,987 | 17,276
At 5 April 2024 | - | 18,428 | 18,428

5 | Stocks

| 2025 £ | 2024 £
Other inventories | 250 | 250

Liberty Autoworks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Bank loans and overdrafts | 7 | 7,137 | 5,037
Taxation and social security |  | 595 | 1,649
Accruals and deferred income |  | 720 | 720
Other creditors |  | 1,548 | 2,814
Director loan account |  | 2,756 | 271
|  | 12,756 | 10,491

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 7 | 2,559 | 6,596

7 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 2,559 | 6,596

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 4,037 | 4,037
Other borrowings | 3,100 | 1,000
| 7,137 | 5,037

Bank borrowings

National Westminster Bank Plc is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 30 June 2026. The carrying amount at year end is £6,596 (2024 - £10,633).