REGISTERED COMPANY NUMBER: 10062834 (England and Wales)

REGISTERED CHARITY NUMBER: 1171312

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Startermotor Limited

(A Company Limited by Guarantee)

Page

Report of the Trustees

1

Independent Examiner's Report

2

Statement of Financial Activities

3

Balance Sheet

4

Notes to the Financial Statements

5

to

9

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Startermotor Limited is a unique charity in providing a broad means of access for young people to the classic car world. We work in partnership with schools, colleges, academies, regional Enterprise organisations and likeminded companies. The charity's mission is to assist the next generation to find work experience and jobs in the sector to address the ageing demographic of those who are employed and drive the industry today.

The collective classic and historic vehicle sector is significant, accounting for 1.93 million vehicles generating a turnover worth over £7bn annually to the UK's economy. The sector employs more than 30,000 people who serve an owner base of 691,000 each spending an average £4,570 per annum on their historic vehicles.

In the period of this report, StarterMotor has facilitated work experiences for 25 young people, and individually mentored 30 young hopefuls who have decided that a career in the sector is their preferred choice. The charity has also been directly involved in a range of career events that collectively reached over 2,250 students between the ages of 14 and 19 and supported over 30 events and shows across the country represented by its 15 Ambassadors - enthusiasts aged under 25 - already involved in the sector.

In the next year these initiatives will increase overall. For example, there will be at least 25% more school careers-based activities. This is having a measurable effect on the interest of young people in historic cars throughout the UK with applications for jobs, participation in events and the appreciation of historic cars growing.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

10062834 (England and Wales)

Registered Charity number

1171312

Registered office

Building 123, The Station Armoury

Bicester Heritage

Buckingham Road

Bicester

OX27 8AL

Trustees

D J Geoghegan Businessman (resigned 5/12/2024)

D Bennion Businessman (resigned 3/2/2025)

G V Cosgrove Businesswoman

W S Heynes Businessman

Approved by order of the board of trustees on 15 December 2025 and signed on its behalf by:

G V Cosgrove - Trustee

Independent examiner's report to the trustees of Startermotor Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Simon R Drew ACMA CGMA

The Chartered Institute of Management Accountants

15 December 2025

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

113,002

132,886

Investment income

2

57

156

Total

113,059

133,042

EXPENDITURE ON

Raising funds

4,883

-

Charitable activities

Support costs

161,321

118,514

Total

166,204

118,514

NET INCOME/(EXPENDITURE)

(53,145

)

14,528

RECONCILIATION OF FUNDS

Total funds brought forward

101,810

87,282

TOTAL FUNDS CARRIED FORWARD

48,665

101,810

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

6

18,492

81,125

CURRENT ASSETS

Debtors

7

1,804

359

Cash at bank

29,089

23,881

30,893

24,240

CREDITORS

Amounts falling due within one year

8

(720

)

(3,555

)

NET CURRENT ASSETS

30,173

20,685

TOTAL ASSETS LESS CURRENT LIABILITIES

48,665

101,810

NET ASSETS

48,665

101,810

FUNDS

9

Unrestricted funds

48,665

101,810

TOTAL FUNDS

48,665

101,810

The charitable 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 trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 15 December 2025 and were signed on its behalf by:

G V Cosgrove - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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

-

10% on reducing balance

Motor vehicles

-

No depreciation

In the opinion of the directors, the vehicle assets (and certain other assets of an historical nature) are of an appreciating nature and the residual value is expected to be greater than the cost or donated value. As a result, no depreciation is provided for on these assets in the financial statements.

Donated assets are capitalised at the estimated market value.

Loan vehicles

Where supporters of the charity loan vehicles to it for a period of time, these vehicles are not capitalised as a fixed asset as the vehicles have to be returned to their owners at the end of the loan term.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Donated goods and services

Where donated goods and services are consumed by the charity in the furtherance of its charitable objectives, the market value of the donated goods and services is included in both donations received and the appropriate cost heading.

2.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

57

156

3.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

33

37

Deficit on disposal of fixed assets

4,518

-

4.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

5.	STAFF COSTS

The average monthly number of employees during the year:

2025 2024

2 2

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

903

80,500

81,403

Additions

-

10,868

10,868

Disposals

(250

)

(19,368

)

(19,618

)

Revaluations

-

(53,850

)

(53,850

)

At 31 March 2025

653

18,150

18,803

DEPRECIATION

At 1 April 2024

278

-

278

Charge for year

33

-

33

At 31 March 2025

311

-

311

NET BOOK VALUE

At 31 March 2025

342

18,150

18,492

At 31 March 2024

625

80,500

81,125

Cost or valuation at 31 March 2025 is represented by:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Valuation in 0

-

(53,850

)

(53,850

)

Cost

653

72,000

72,653

653

18,150

18,803

7.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

1,132

360

Social security and other tax

672

(1

)

1,804

359

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Social security and other taxes

-

1,696

Pension payable

-

313

Accruals and deferred income

720

1,546

720

3,555

9.	MOVEMENT IN FUNDS

Net

movement

At

At 1/4/24

in funds

31/3/25

£

£

£

Unrestricted funds

General fund

101,810

(53,145

)

48,665

TOTAL FUNDS

101,810

(53,145

)

48,665

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

113,059

(166,204

)

(53,145

)

TOTAL FUNDS

113,059

(166,204

)

(53,145

)

Comparatives for movement in funds

Net

movement

At

At 1/4/23

in funds

31/3/24

£

£

£

Unrestricted funds

General fund

87,282

14,528

101,810

TOTAL FUNDS

87,282

14,528

101,810

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

133,042

(118,514

)

14,528

TOTAL FUNDS

133,042

(118,514

)

14,528

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1/4/23

in funds

31/3/25

£

£

£

Unrestricted funds

General fund

87,282

(38,617

)

48,665

TOTAL FUNDS

87,282

(38,617

)

48,665

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

246,101

(284,718

)

(38,617

)

TOTAL FUNDS

246,101

(284,718

)

(38,617

)

10.	RELATED PARTY DISCLOSURES

The charity benefited from various donated services from some of the Trustees during the year, and in the previous year.