DAVE HANDFORD CAR SALES LIMITED


Directors	David John Handford
	Tracy Jane Handford


Company Secretary	Tracy Jane Handford


Registered Address	15b Sunrise Business Park
	Higher Shaftesbury Road
	Blandford Forum
	DT11 8ST


Registered Number	05277528 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	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).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The directors believe that the company is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

	Turnover policy
	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.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation. Goodwill is amortised over its useful life on the straight line.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	6
Plant and machinery	25	-
Fixtures and fittings	25	-
Vehicles	25	-
Office Equipment	-	10

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	9		10

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	5	5
At 31 March 25	5	5
Amortisation and impairment
At 01 April 24	5	5
At 31 March 25	5	5
Net book value
At 31 March 25	-	-
At 31 March 24	-	-

5.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 April 24	18,583	139,173	90,915	4,945	41,443	295,059
Additions	-	16,521	154,488	-	232	171,241
Disposals	-	-	(3,995)	-	-	(3,995)
At 31 March 25	18,583	155,694	241,408	4,945	41,675	462,305
Depreciation and impairment
At 01 April 24	6,140	80,278	54,726	3,453	36,199	180,796
Charge for year	2,620	17,374	28,418	373	4,158	52,943
On disposals	-	-	(2,253)	-	-	(2,253)
Other adjustments	(1)	-	-	-	-	(1)
At 31 March 25	8,759	97,652	80,891	3,826	40,357	231,485
Net book value
At 31 March 25	9,824	58,042	160,517	1,119	1,318	230,820
At 31 March 24	12,443	58,895	36,189	1,492	5,244	114,263


	Included within the net book value of land and buildings above is £9,824 (2024: £12,443) in respect of short leasehold land and buildings.

6.	Stocks

	2025	2024
	£	£
Raw materials and consumables	1,500	1,500
Total	1,500	1,500

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	466	57
Other debtors	6,405	5,500
Prepayments and accrued income	22,125	18,370
Total	28,996	23,927


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	58,517	38,896
Bank borrowings and overdrafts	-	10,000
Taxation and social security	20,148	15,720
Finance lease and HP contracts	37,293	4,259
Other creditors	5,948	10,601
Accrued liabilities and deferred income	4,443	1,849
Total	126,349	81,325


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	15,000
Other creditors	107,046	15,874
Total	107,046	30,874


	The bank loan was secured by a fixed and floating charge over the company's assets.

10.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	144,339		20,134

11.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	33,781	10,802
Total	33,781	10,802

12.	Other commitments
	At 31 March 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £33,161 (2024: £38,750).

13.	Related party transactions
	During the year the company paid rent of £18,000 (2024: £18,000) to the directors.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	5		230,820		114,263
			230,820		114,263
Current assets
Stocks	6	1,500		1,500
Debtors	7	28,996		23,927
Cash at bank and on hand		102,168		81,083
		132,664		106,510
Creditors amounts falling due within one year	8	(126,349)		(81,325)
Net current assets (liabilities)			6,315		25,185
Total assets less current liabilities			237,135		139,448
Creditors amounts falling due after one year	9		(107,046)		(30,874)
Provisions for liabilities	11		(33,781)		(10,802)
Net assets			96,308		97,772
Capital and reserves
Called up share capital			2		2
Profit and loss account			96,306		97,770
Shareholders' funds			96,308		97,772