REGISTERED NUMBER: 06484316 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MASTERCARS (BIGGLESWADE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R D Masters

S W Walker

SECRETARY:

C R Coleman

REGISTERED OFFICE:

1-2 Bunyan Road

Hitchin

Hertfordshire

SG5 1NL

REGISTERED NUMBER:

06484316 (England and Wales)

ACCOUNTANTS:

Rawlinson Pryde & Partners

Chartered Certified Accountants

Argent House

5 Goldington Road

Bedford

Bedfordshire

MK40 3JY

FIXED ASSETS

Tangible assets

4

8,408

9,827

CURRENT ASSETS

Stocks

486,183

505,456

Debtors

5

11,138

29,431

Cash at bank and in hand

197,449

154,871

694,770

689,758

CREDITORS

Amounts falling due within one year

6

167,311

186,232

NET CURRENT ASSETS

527,459

503,526

TOTAL ASSETS LESS CURRENT LIABILITIES

535,867

513,353

CREDITORS

Amounts falling due after more than one year

7

-

(11,967

)

PROVISIONS FOR LIABILITIES

(1,877

)

(2,297

)

NET ASSETS

533,990

499,089

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

533,890

498,989

SHAREHOLDERS' FUNDS

533,990

499,089

The 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 directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which 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 company as at the end of each financial year and of its profit or loss 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 company.

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 Board of Directors and authorised for issue on 20 December 2025 and were signed on its behalf by:

S W Walker - Director

1.	STATUTORY INFORMATION

Mastercars (Biggleswade) 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.	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.

Turnover

Turnover represents net invoiced sales, servicing and repairs of motor vehicles, excluding value added tax.

Turnover is recognised on delivery of the motor vehicle to the customer.

Tangible fixed assets

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

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

20% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks

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

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all liabilities.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

If an arrangement constitutes a financing transaction it is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. The present value of a financial asset or financial liability that is repayable on demand is equal to the undiscounted cash amount expected to be paid or received.

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.

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.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

14,585

12,470

10,050

37,105

Additions

-

830

-

830

At 31 March 2025

14,585

13,300

10,050

37,935

DEPRECIATION

At 1 April 2024

13,190

4,858

9,230

27,278

Charge for year

639

1,200

410

2,249

At 31 March 2025

13,829

6,058

9,640

29,527

NET BOOK VALUE

At 31 March 2025

756

7,242

410

8,408

At 31 March 2024

1,395

7,612

820

9,827

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

6,264

25,709

Prepayments and accrued income

4,874

3,722

11,138

29,431

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

11,757

58,686

Trade creditors

55,008

18,803

Tax

17,620

27,972

Social security and other taxes

2,417

2,068

VAT

19,911

16,183

Other creditors and accruals

31,795

28,100

Directors' current accounts

28,803

34,420

167,311

186,232

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 2-5 years

-

11,967

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

11,757

70,653

The bank loan and overdraft are secured by the owned assets of the company together with personal guarantees given by the directors.