REGISTERED NUMBER: 09555977 (England and Wales)

LATHAM'S CLASSIC CARS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A J Latham

REGISTERED OFFICE:

35-37 Hainge Road

Tivdale

Oldbury

B69 2NY

REGISTERED NUMBER:

09555977 (England and Wales)

AUDITORS:

Clarke Nicklin LLP

Chartered Accountants and

Statutory Auditors

Clarke Nicklin House

Brooks Drive

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3TD

CURRENT ASSETS

Stocks

748,551

649,067

Debtors

5

79,910

39,322

Cash at bank

25,068

14,553

853,529

702,942

CREDITORS

Amounts falling due within one year

6

869,489

691,792

NET CURRENT (LIABILITIES)/ASSETS

(15,960

)

11,150

TOTAL ASSETS LESS CURRENT LIABILITIES

(15,960

)

11,150

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(15,961

)

11,149

(15,960

)

11,150

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 director and authorised for issue on 24 December 2025 and were signed by:

A J Latham - Director

1.	STATUTORY INFORMATION

Latham's Classic Cars 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.

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Consequently, the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of value added tax. The fair value of consideration takes into account trade discounts.

Revenue from the sale of goods is recognised when:

- the significant risks and rewards of ownership of the goods have passed to the buyer;

- the amount of the revenue can be measured reliably;

- it is probable that the economic benefits associated with the transaction will flow to the entity; and

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

Tangible fixed assets

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

Stocks

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

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase plus subsequent expenditure to bring the items to their current location and condition.

At each reporting date, an assessment is made for impairment, being any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell. The impairment loss and any subsequent reversal is recognised in the income statement.

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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

350

DEPRECIATION

At 1 April 2024

and 31 March 2025

350

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

4,383

39,322

Directors' current accounts

75,527

-

79,910

39,322

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

854,012

690,305

Tax

-

112

VAT

3,019

-

Accruals and deferred income

12,458

1,375

869,489

691,792

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Baggott (Senior Statutory Auditor)

for and on behalf of Clarke Nicklin LLP

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

A J Latham

Balance outstanding at start of year

-

-

Amounts advanced

79,037

-

Amounts repaid

(3,510

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

75,527

-

9.	RELATED PARTY DISCLOSURES

During the year and at the reporting date the company was a wholly owned subsidiary of Lathams Holdings Limited, a company incorporated in England and Wales.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with the ultimate parent company and other wholly owned subsidiaries within the group.

10.	POST BALANCE SHEET EVENTS

On 19 September 2025 the parent company, Latham's Holdings Ltd, was acquired by HÖrmann International Beteiligungs Gmbh. As this transaction occurred after the reporting date, it is classified as a non-adjusting event. There is no impact on the financial statements for the year ended 31 March 2025.