Niton Undercliff Garage Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 04999092

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		17,520		17,023

			17,520		17,023
CURRENT ASSETS
Stocks	5	31,140		35,737
Debtors	6	29,395		44,109
Cash at bank and in hand		549,640		550,488

		610,175		630,334
Creditors: Amounts Falling Due Within One Year	7	(236,545 )		(219,682 )

NET CURRENT ASSETS (LIABILITIES)			373,630		410,652

TOTAL ASSETS LESS CURRENT LIABILITIES			391,150		427,675

PROVISIONS FOR LIABILITIES
Deferred Taxation			(4,205 )		(4,086 )

NET ASSETS			386,945		423,589

CAPITAL AND RESERVES
Called up share capital			1,000		1,000
Profit and Loss Account			385,945		422,589

SHAREHOLDERS' FUNDS			386,945		423,589

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Niton Undercliff Garage Limited

Balance Sheet (continued)

As At 31 March 2025

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr P Maddin

Director

11 December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Niton Undercliff Garage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04999092 . The registered office is Ventnor Road, Niton Undercliff, Ventnor, Isle Of Wight, PO38 2LY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	10% on cost
Plant & Machinery	25% on cost
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% on cost

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost comprises direct materials and direct labour incurred to bring the work to its current state of completion. Net realisable value represents the estimated selling price less all estimated costs of completion and costs necessary to make the sale. No element of profit is included in the valuation of work in progress.

2.5. Financial Instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to or from related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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Niton Undercliff Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2024: 9)

4. Tangible Assets

	Land & Buildings	Plant & Machinery etc.	Total
	£	£	£
Cost
As at 1 April 2024	67,458	65,538	132,996
Additions	-	7,625	7,625

As at 31 March 2025	67,458	73,163	140,621

Depreciation
As at 1 April 2024	67,458	48,515	115,973
Provided during the period	-	7,128	7,128

As at 31 March 2025	67,458	55,643	123,101

Net Book Value
As at 31 March 2025	-	17,520	17,520

As at 1 April 2024	-	17,023	17,023

5. Stocks

	2025	2024
	£	£
Stock	17,527	9,333
Work in progress	13,613	26,404

	31,140	35,737

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Niton Undercliff Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	24,154	36,652
Other debtors	5,241	7,457

	29,395	44,109

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	14,481	20,783
Other creditors	200,631	168,355
Taxation and social security	21,433	30,544

	236,545	219,682

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