REGISTERED NUMBER: 04644402 (England and Wales)

Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

for

Ian Shammon Limited

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr S D Shammon

Mr A Shammon

SECRETARY:

Mrs A Sparrow

REGISTERED OFFICE:

Boultham Park Garage

Boultham Park Road

LINCOLN

Lincolnshire

LN6 7SB

REGISTERED NUMBER:

04644402 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

BANKERS:

Lloyds TSB Bank plc

Homer House

Sibthorp Street

LINCOLN

LN5 7SL

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the sale of motor vehicles.

DIRECTORS

Mr S D Shammon has held office during the whole of the period from 1 April 2024 to the date of this report.

Other changes in directors holding office are as follows:

Mr A Shammon - appointed 4 December 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr S D Shammon - Director

11 December 2025

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,789

4,054

4,789

4,054

CURRENT ASSETS

Stocks

235,158

225,268

Debtors

6

34,453

42,266

Cash at bank

509,480

506,161

779,091

773,695

CREDITORS

Amounts falling due within one year

7

102,056

125,337

NET CURRENT ASSETS

677,035

648,358

TOTAL ASSETS LESS CURRENT LIABILITIES

681,824

652,412

CREDITORS

Amounts falling due after more than one year

8

(1,833

)

(10,833

)

PROVISIONS FOR LIABILITIES

(1,086

)

(953

)

NET ASSETS

678,905

640,626

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

677,905

639,626

SHAREHOLDERS' FUNDS

678,905

640,626

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 11 December 2025 and were signed on its behalf by:

Mr S D Shammon - Director

1.	STATUTORY INFORMATION

Ian Shammon 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% - 33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measures at the present value of future payments, discounted at a market rate of interest.

Government grants

Government grants which have been accounted for under the performance model are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met.

Government grants which have been accounted for under the accruals model in respect of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

60,000

AMORTISATION

At 1 April 2024

and 31 March 2025

60,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2024

1,320

8,188

9,508

Additions

-

1,598

1,598

At 31 March 2025

1,320

9,786

11,106

DEPRECIATION

At 1 April 2024

459

4,995

5,454

Charge for year

129

734

863

At 31 March 2025

588

5,729

6,317

NET BOOK VALUE

At 31 March 2025

732

4,057

4,789

At 31 March 2024

861

3,193

4,054

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Directors' current accounts

28,427

36,571

Prepayments

6,026

5,695

34,453

42,266

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

9,000

9,000

Trade creditors

35,349

58,331

Receipts in advance

8,692

1,940

Tax

21,822

29,555

Social security and other taxes

1,770

1,855

VAT

21,498

17,288

Other creditors

1,780

858

Accrued expenses

2,145

6,510

102,056

125,337

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

1,833

9,000

Bank loans - 2-5 years

-

1,833

1,833

10,833

9.	RELATED PARTY DISCLOSURES

The property occupied by the company belongs to Mr S D Shammon and is provided rent free.

Included in debtors are Directors loan accounts to Mr S D Shammon £28,427 (2024 : £36,572). Interest has been charged at the official rate and is repayable on demand. This was repaid within 9 months of the year end.