General Information
Pylle Motor Spares Limited is a private company, limited by shares, registered in England and Wales, registration number 02993967, registration address Woodstock House, Pylle, Shepton Mallet, BA4 6TA.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Land and Buildings |
10 Year Straight Line |
| Plant and Machinery |
15% Reducing Balance
|
| Motor Vehicles |
25% Reducing Balance
|
| Fixtures and Fittings |
15% Reducing Balance
|
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 2 (2024 : 2).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 December 2024 |
89,560 |
|
910,668 |
|
52,394 |
|
53,774 |
|
1,106,396 |
| Additions |
- |
|
- |
|
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 30 November 2025 |
89,560 |
|
910,668 |
|
52,394 |
|
53,774 |
|
1,106,396 |
| Depreciation |
| At 01 December 2024 |
89,560 |
|
815,367 |
|
42,202 |
|
43,800 |
|
990,929 |
| Charge for year |
- |
|
14,297 |
|
2,548 |
|
1,495 |
|
18,340 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 30 November 2025 |
89,560 |
|
829,664 |
|
44,750 |
|
45,295 |
|
1,009,269 |
| Net book values |
| Closing balance as at 30 November 2025 |
- |
|
81,004 |
|
7,644 |
|
8,479 |
|
97,127 |
| Opening balance as at 01 December 2024 |
- |
|
95,301 |
|
10,192 |
|
9,974 |
|
115,467 |
|
| 4. |
Investments
| Cost |
Other investments other than loans |
|
Total |
| |
£ |
|
£ |
| At 01 December 2024 |
2,437,525 |
|
2,437,525 |
| Additions |
240,621 |
|
240,621 |
| Disposals |
(170,000) |
|
(170,000) |
| At 30 November 2025 |
2,508,146 |
|
2,508,146 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Prepayments & Accrued Income |
1,300 |
|
2,600 |
| Other Debtors |
382,300 |
|
532,600 |
| Director: Mrs S R Rossiter |
0 |
|
10,000 |
| Director: Mr E J Rossiter |
5,000 |
|
10,000 |
|
388,600 |
|
555,200 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Corporation Tax |
17,773 |
|
21,578 |
| Accrued Expenses |
2,396 |
|
2,301 |
| Director: Mrs S R Rossiter |
16,000 |
|
0 |
| VAT |
4,104 |
|
3,692 |
|
40,273 |
|
27,571 |
|
| 7. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
67,569 |
|
77,259 |
|
67,569 |
|
77,259 |
|
| 8. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
18,000
Class A shares of £1.00 each |
18,000 |
|
18,000 |
|
11,999
Class B shares of £1.00 each |
11,999 |
|
11,999 |
|
1
Class C share of £1.00 each |
1 |
|
1 |
|
30,000 |
|
30,000 |
|
| 9. |
Revaluation Reserves
|
2025
£ |
|
2024
£ |
| Revaluation Reserve b/fwd |
291,160 |
|
291,160 |
| Transfer to Profit and Loss Account |
(32,658) |
|
0 |
|
258,502 |
|
291,160 |
|
| 10. |
Related parties
During the year the company entered into the following transactions with related parties: | Transaction value - income/(expenses) | | Balance owed by/(owed to) |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| Loan to family member | 4,000 | | 8,000 | | 80,981 | | 84,981 |
Interest was charged at the rate of 2%, the loan is unsecured with no repayment terms. |
|
Investments
Investments comprises of 11 properties. At 30 November 2025 the fair value of the properties in the financial statements was reviewed by the directors based on their knowledge of the properties and documented trends in the local property market. During the year ended 30 November 2025 the revaluation in the year of £nil (2024 - £nil) was credited to the profit and loss account in accordance with FRS 102. During this year 1 Property was sold, which had previously been revalued upwards by £32,658.
|
|
Director's benefits: advances, credit and guarantees
During the year £nil was advanced to a director and £5,000 was subsequently repaid. The balance owed at the beginning of the year was £10,000 and at the end of the year was £5,000. This loan is interest free, unsecured and has no repayment terms.
During the year £nil was advanced to a director and £5,000 was subsequently repaid. The balance owed at the beginning of the year was £10,000 and at the end of the year was £5,000. This loan is interest free, unsecured and has no repayment terms..
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