Company registration number 04185723 (England and Wales)
BOGNOR MOTORS LEASING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
BOGNOR MOTORS LEASING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
BOGNOR MOTORS LEASING LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BOGNOR MOTORS LEASING LIMITED FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bognor Motors Leasing Limited for the year ended 30 June 2025 which comprise, the balance sheet 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 https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of Bognor Motors Leasing Limited, as a body, in accordance with the terms of our engagement letter dated 24 January 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Bognor Motors Leasing Limited and state those matters that we have agreed to state to the b oard of d irectors of Bognor Motors Leasing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bognor Motors Leasing Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Bognor Motors Leasing 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 Bognor Motors Leasing Limited. You consider that Bognor Motors Leasing 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 Bognor Motors Leasing 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 f inancial statements.

Carpenter Box
3 November 2025
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
BOGNOR MOTORS LEASING LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,201,902
1,607,463
Current assets
Stocks
710,476
1,455,739
Debtors
4
296,944
181,831
Cash at bank and in hand
43,924
101,398
1,051,344
1,738,968
Creditors: amounts falling due within one year
5
(1,079,970)
(1,380,660)
Net current (liabilities)/assets
(28,626)
358,308
Total assets less current liabilities
1,173,276
1,965,771
Creditors: amounts falling due after more than one year
6
(619,115)
(1,035,366)
Provisions for liabilities
(221,100)
(317,118)
Net assets
333,061
613,287
Capital and reserves
Called up share capital
7
4
3
Profit and loss reserves
333,057
613,284
Total equity
333,061
613,287

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

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

The directors acknowledge their 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 year 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.

BOGNOR MOTORS LEASING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2025
30 June 2025
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 3 November 2025 and are signed on its behalf by:
Mr J D Kracke
Director
Company registration number 04185723 (England and Wales)
BOGNOR MOTORS LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
1
Accounting policies
Company information

Bognor Motors Leasing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3, Christie Place, Durban Road, Bognor Regis, West Sussex, PO22 9RT.

1.1
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 £1.

1.2
Going concern

Despite the net current liabilities position, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company is reliant on its providers of finance and no adjustment has been made to reflect a withdrawal of their support. The directors have considered relevant information, including the company’s principal risks and uncertainties true and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

1.3
Turnover

Turnover represents amounts receivable for vehicle servicing, rentals and sales during the period exclusive of VAT. Vehicle sales and related costs are recognised when the company has fulfilled all of its obligations under the sales contract.

1.4
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:

Land and buildings leasehold
Evenly over the term of the lease
Website development & computer equipment
25% per annum on a diminishing balance basis
Fixtures, fittings & equipment
25% per annum on a diminishing balance basis
Motor vehicles
20% & 8% per annum on a diminishing balance basis

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.

Website development costs which relate to income generating elements have been included within tangible fixed assets. Other website costs are written off to the profit or loss account in the year that they occur.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

BOGNOR MOTORS LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -
1.6
Cash at bank and in hand

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.

1.7
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.

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.

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.

1.8
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.

1.9
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.

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.

1.10
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.

1.11
Retirement benefits

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

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

BOGNOR MOTORS LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 6 -

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.13
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 25 (2024 - 26).

3
Tangible fixed assets
Land and buildings leasehold
Website development & computer equipment
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2024
40,670
8,717
230,786
1,706,375
1,986,548
Additions
2,270
1,916
505
814,717
819,408
Disposals
-
0
-
0
-
0
(1,161,687)
(1,161,687)
At 30 June 2025
42,940
10,633
231,291
1,359,405
1,644,269
Depreciation and impairment
At 1 July 2024
34,496
3,861
173,270
167,458
379,085
Depreciation charged in the year
1,236
1,541
14,463
147,358
164,598
Eliminated in respect of disposals
-
0
-
0
-
0
(101,316)
(101,316)
At 30 June 2025
35,732
5,402
187,733
213,500
442,367
Carrying amount
At 30 June 2025
7,208
5,231
43,558
1,145,905
1,201,902
At 30 June 2024
6,174
4,856
57,516
1,538,917
1,607,463
BOGNOR MOTORS LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
109,886
26,203
Other debtors
187,058
155,628
296,944
181,831
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
9,644
10,276
Trade creditors
154,181
117,701
Taxation and social security
175,405
97,593
Other creditors
740,740
1,155,090
1,079,970
1,380,660

Included within other creditors is £369,154 (2024: £519,783) due under hire purchase contracts. These obligations are secured on the assets to which they relate.

Included within other creditors is £308,384 (2024: £583,164) relating to a stocking plan loan, which is secured against the assets which it was used to purchase.

6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
9,644
Other creditors
619,115
1,025,722
619,115
1,035,366

Included within other creditors are £612,819 (2024: £987,582) due under hire purchase contracts. These obligations are secured on the assets to which they relate.

Included within other creditors is £6,296 (2024: £38,140) for a stocking plan loan, which is secured against the assets which it was used to purchase.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4
3
4
3

During the year, 1 ordinary share of £1 was allotted and paid at par.

BOGNOR MOTORS LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
8
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
2024
£
£
39,294
65,490
9
Related party transactions

Bognor Motors Limited

During the year the company provided goods and services to Bognor Motors Limited, a company in which Mr J Kracke and Mr O Hicklin are also directors. These transactions were deemed to be at an arms length basis. The balance owing to the company at the year end was £101,658 (2024: £66,130) and this amount is included in debtors falling due within one year.

10
Directors' transactions

The following amounts were outstanding at the reporting end date:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director's Loan
-
4,076
103,554
(107,630)
-
Director's Loan
-
3,800
104,308
(108,108)
-
7,876
207,862
(215,738)
-
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