STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LINDLEY'S AUTO CENTRES LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

6

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

A W B Lindley

D B Lindley

M O'Toole

E Malinowski

R O'Donnell

A Gilbert

REGISTERED OFFICE:

Nottingham Road

Arnold

Nottingham

NG5 6JZ

REGISTERED NUMBER:

04767226 (England and Wales)

SENIOR STATUTORY AUDITOR:

James Timothy Card FCCA

AUDITORS:

Hewitt Card Limited

Statutory Auditors

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

The directors present their strategic report for the year ended 31 December 2024.

Principal Activities

Lindley's Autocentres Limited operates automotive servicing and repair centres, providing vehicle servicing, repairs, MOT testing and related automotive services. During the year, the company also operated a vehicle sales activity.

REVIEW OF BUSINESS

Business Review

The year ended 31 December 2024 saw continued demand for automotive servicing and repair services despite ongoing cost pressures across the sector, particularly in relation to labour and parts.

Turnover from autocentre operations increased to approximately £7.8m (2023: £7.2m), reflecting sustained customer demand and the essential nature of servicing and repair work.

Revenue from vehicle sales decreased to approximately £2.7m (2023: £3.6m), as the company reduced its exposure to this activity during the year in response to market conditions and margin considerations.

The directors focused on maintaining service quality, managing costs and investing in staff training and operational capability. The financial position of the company at the year-end was considered satisfactory, with appropriate levels of working capital maintained. Overall performance for the year was in line with management expectations.

Key Performance Indicators (KPIs)

The directors monitor the performance of the business using the following key performance indicators:

" Autocentre turnover

" Gross profit margin

" Operating profit

" Cash flow

" Staff numbers and productivity

These indicators are reviewed regularly to support operational and strategic decision-making.

PRINCIPAL RISKS AND UNCERTAINTIES

Principal Risks and Uncertainties

Recruitment and Retention of Skilled Staff

The availability of qualified technicians remains a key risk within the automotive sector. The company seeks to mitigate this risk through competitive remuneration, ongoing training and a focus on employee engagement and retention.

Cost Inflation

Rising labour, parts and utility costs may impact profitability. The company manages this risk through pricing reviews, supplier negotiations and cost control measures.

Regulatory and Compliance Environment

The company operates in a regulated environment, including MOT testing, health and safety and environmental requirements. Compliance is managed through training, procedures and management oversight.

Economic Conditions

A deterioration in economic conditions could affect consumer spending on vehicle maintenance and repair. This risk is partially mitigated by the essential nature of much servicing and repair work.

Employees

The company employed 89 staff during the year. The directors consider employee engagement, training, health and safety and fair employment practices to be fundamental to the company's long-term success.

Customers

Maintaining high standards of service, compliance and customer satisfaction is central to the company's relationship with its customers. The directors place significant importance on building and maintaining long-term customer relationships.

Suppliers

The company works closely with its suppliers to ensure continuity of supply, service quality and fair commercial terms. Strong supplier relationships are regarded as important to the ongoing operation of the business.

Community and Environment

The company recognises its responsibilities to the communities in which it operates and seeks to minimise its environmental impact through responsible waste management and compliance with environmental regulations.

Long-Term Decision Making

In making decisions, the directors consider the long-term consequences for the business, balancing short-term performance with sustainable growth, operational resilience and financial stability.

FUTURE DEVELOPMENTS

Subsequent to the year end, the directors took the decision to discontinue the vehicle sales operation, enabling the business to focus fully on its core autocentre servicing and repair activities.

The directors believe this strategic decision will simplify operations, reduce exposure to margin volatility, and support the long-term sustainability of the business. The company's focus for the future will be on maintaining service quality, managing costs, and continuing to invest in staff and equipment where appropriate.

ON BEHALF OF THE BOARD:

A Gilbert - Director

23 December 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of the operation of automotive service, repair and MOT centres and the sale of vehicles.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

A W B Lindley

D B Lindley

M O'Toole

E Malinowski

R O'Donnell

A Gilbert

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Hewitt Card Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A Gilbert - Director

23 December 2025

Opinion

We have audited the financial statements of Lindley's Auto Centres Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have adopted a risk based approach based upon analytical procedures and knowledge of the clients systems and environment it operates in.

This enables us to design and perform audit procedures responsive to those risks; and obtain audit evidence that is sufficient and appropriate to provide a basis for the audit opinion.

To obtain an understanding of internal control where relevant to the audit to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the companys internal control.

To evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

To conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern.

The likelihood of detecting irregularities is inherently difficult and we have designed our tests and procedures to reduce this risk.

- We have enquired of management and the company's solicitors around actual and potential litigation and claims.

- Review of company minutes of meetings of those charged with governance.

- Reviewing financial statements disclosure and testing supporting documentation to assess compliance with applicable laws and regulations.

- Review and testing of management override of controls, including through testing journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

James Timothy Card FCCA (Senior Statutory Auditor)

for and on behalf of Hewitt Card Limited

Statutory Auditors

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

23 December 2025

TURNOVER

10,549,428

10,801,268

Cost of sales

7,795,810

8,199,196

GROSS PROFIT

2,753,618

2,602,072

Administrative expenses

2,601,008

2,284,019

152,610

318,053

Other operating income

26,520

34,021

OPERATING PROFIT

5

179,130

352,074

Interest receivable and similar income

1,756

2,947

180,886

355,021

Interest payable and similar expenses

6

47,357

50,786

PROFIT BEFORE TAXATION

133,529

304,235

Tax on profit

7

30,919

147,148

PROFIT FOR THE FINANCIAL YEAR

102,610

157,087

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

102,610

157,087

FIXED ASSETS

Intangible assets

8

239,900

216,667

Tangible assets

9

1,159,919

1,072,175

1,399,819

1,288,842

CURRENT ASSETS

Stocks

10

405,778

695,518

Debtors

11

1,566,355

1,271,684

Cash at bank and in hand

289,006

94,062

2,261,139

2,061,264

CREDITORS

Amounts falling due within one year

12

1,514,241

1,262,457

NET CURRENT ASSETS

746,898

798,807

TOTAL ASSETS LESS CURRENT LIABILITIES

2,146,717

2,087,649

CREDITORS

Amounts falling due after more than one year

13

(446,144

)

(494,046

)

PROVISIONS FOR LIABILITIES

17

(256,560

)

(252,200

)

NET ASSETS

1,444,013

1,341,403

CAPITAL AND RESERVES

Called up share capital

18

120

120

Retained earnings

19

1,443,893

1,341,283

SHAREHOLDERS' FUNDS

1,444,013

1,341,403

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

D B Lindley - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

120

1,184,196

1,184,316

Changes in equity

Total comprehensive income

-

157,087

157,087

Balance at 31 December 2023

120

1,341,283

1,341,403

Changes in equity

Total comprehensive income

-

102,610

102,610

Balance at 31 December 2024

120

1,443,893

1,444,013

Cash flows from operating activities

Cash generated from operations

1

769,705

139,648

Interest paid

(10,431

)

(15,863

)

Interest element of hire purchase payments paid

(36,926

)

(34,923

)

Tax paid

(47,899

)

-

Net cash from operating activities

674,449

88,862

Cash flows from investing activities

Purchase of intangible fixed assets

(42,000

)

-

Purchase of tangible fixed assets

(351,606

)

(253,096

)

Sale of tangible fixed assets

27,372

44,003

Interest received

1,756

2,947

Net cash from investing activities

(364,478

)

(206,146

)

Cash flows from financing activities

New loans in year

56,262

-

Loan repayments in year

(234,800

)

(114,012

)

Capital repayments in year

62,719

(29,577

)

Net cash from financing activities

(115,819

)

(143,589

)

Increase/(decrease) in cash and cash equivalents

194,152

(260,873

)

Cash and cash equivalents at beginning of year

2

94,062

354,935

Cash and cash equivalents at end of year

2

288,214

94,062

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24

31.12.23

£

£

Profit before taxation

133,529

304,235

Depreciation charges

252,766

246,729

Loss/(profit) on disposal of fixed assets

2,482

(10,775

)

Finance costs

47,357

50,786

Finance income

(1,756

)

(2,947

)

434,378

588,028

Decrease/(increase) in stocks

289,740

(86,853

)

Increase in trade and other debtors

(307,423

)

(448,138

)

Increase in trade and other creditors

353,010

86,611

Cash generated from operations

769,705

139,648

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

289,006

94,062

Bank overdrafts

(792

)

-

288,214

94,062

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

94,062

354,935

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

94,062

194,944

289,006

Bank overdrafts

-

(792

)

(792

)

94,062

194,152

288,214

Debt

Finance leases

(487,872

)

(62,719

)

(550,591

)

Debts falling due within 1 year

(230,914

)

109,799

(121,115

)

Debts falling due after 1 year

(118,464

)

68,748

(49,716

)

(837,250

)

115,828

(721,422

)

Total

(743,188

)

309,980

(433,208

)

1.	STATUTORY INFORMATION

Lindley's Auto Centres 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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.

Sale of goods

Turnover from the sale of goods is recognised when;

- the significant risks and rewards of ownership of the goods has transferred to the buyer

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold

- the amount of turnover can be measured reliably

- it is probable that the economic benefits associated with the transaction will flow to the company

- the costs incurred or to be incurred in respect of the transaction can be measured reliably

Rendering of services

Turnover from a contract to provide services is recognised in the period by reference to the stage of completion of the contract when all of the following conditions are satisfied;

- the amount of turnover can be measured reliably

- it is probable that the economic benefits associated with the services will flow to the company

- the stage of completion of the contract at the reporting date can be measured reliably

- the costs incurred and the costs to complete the contract can be measured reliably

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three years.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

Straight line over 50 years and Straight line over 20 years

Short leasehold

-

Over the term of the lease

Plant and machinery

-

33.3% on cost and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer and office equipment

-

Straight line over 3 years

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 Statement of Comprehensive Income, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

2,927,413

2,629,120

Social security costs

293,426

248,246

Other pension costs

72,689

75,283

3,293,528

2,952,649

The average number of employees during the year was as follows:

31.12.24

31.12.23

89

85

31.12.24

31.12.23

£

£

Directors' remuneration

233,774

241,569

Directors' pension contributions to money purchase schemes

23,510

30,087

Information regarding the highest paid director is as follows:

31.12.24

31.12.23

£

£

Emoluments etc

57,776

60,958

Pension contributions to money purchase schemes

13,517

1,294

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.24

31.12.23

£

£

Hire of plant and machinery

13,675

2,539

Depreciation - owned assets

115,268

94,185

Depreciation - assets on hire purchase contracts

118,740

135,878

Loss/(profit) on disposal of fixed assets

2,482

(10,775

)

Goodwill amortisation

18,767

16,666

Auditors' remuneration

8,400

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.24

31.12.23

£

£

Bank loan interest

3,319

3,648

Loan

7,112

12,215

Hire purchase

36,926

34,923

47,357

50,786

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

26,559

60,651

Deferred tax

4,360

86,497

Tax on profit

30,919

147,148