Euro Truck & Trailer Limited iXBRL

Euro Truck & Trailer Limited

Abridged Financial Statements

for the financial year ended 31 March 2025

Euro Truck & Trailer Limited

Company Registration Number: 12540264

ABRIDGED BALANCE SHEET

as at 31 March 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

45,312

7,761

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Current Assets

Stocks

979,065

787,055

Debtors

1,405,327

907,049

Cash and cash equivalents

165,749

74,907

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2,550,141

1,769,011

─────────

Creditors: amounts falling due within one year

(1,501,190)

(968,991)

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Net Current Assets

1,048,951

800,020

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Total Assets less Current Liabilities

1,094,263

807,781

Creditors:

amounts falling due after more than one year

(20,918)

Provisions for liabilities

(724)

(574)

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Net Assets

1,093,539

786,289

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Capital and Reserves

Called up share capital

200

200

Share premium account

74,925

74,925

Retained earnings

1,018,414

711,164

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Equity attributable to owners of the company

1,093,539

786,289

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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.

The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.

Approved by the Board and authorised for issue on 22 December 2025 and signed on its behalf by




________________________________
Derek Whelan
Director

Euro Truck & Trailer Limited

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

for the financial year ended 31 March 2025

General Information

Euro Truck & Trailer Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 12540264. The registered office of the company is Unit 1, Westway 21, Chesford Grange, Warrington WA1 4SZ, United Kingdom which is also the principal place of business of the company. the whoesale of motor vehicle parts and accessories. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 March 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Fixtures, fittings and equipment

25% Reducing balance

Motor vehicles

25% Reducing balance

Computer equipment

25% Reducing balance

Fixed assets acquired in 2025 are depreciated at 20% Straight Line with this policy to be continued for future additons.

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.

(i) Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

(ii) Annual bonus plans

The company recognises a provision and an expense for bonuses where the company has a legal or constructive obligation as a result of past events and a reliable estimate can be made.

(iii) Defined contribution pension plans

The Company operates a defined contribution plan. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate fund. Under defined contribution plans, the company has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

For defined contribution plans, the company pays contributions to privately administered pension plans on a contractual or voluntary basis. The company has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

INFORMATION RELATING TO THE AUDITOR'S REPORT

The Audit Report was unqualified. There were no matters to which the auditor was required to refer by way of emphasis.

The financial statements were audited by Cremin McCarthy & Company.

The Auditor's Report was signed by Alex Cremin (Senior Statutory Auditor) for and on behalf of Cremin McCarthy & Company on 22nd December 2025.

Employees

The average monthly number of employees, including directors, during the financial year was 5, (2024 - 4).

2025

2024

Number

Number

Administration and operations

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5.	Tangible assets
		Fixtures,	Motor	Computer	Total
		fittings and	vehicles	equipment
		equipment
		£	£	£	£
	Cost
	At 1 April 2024	2,980	11,755	5,982	20,717
	Additions	7,865	26,655	11,350	45,870
		─────────	─────────	─────────	─────────
	At 31 March 2025	10,845	38,410	17,332	66,587
		─────────	─────────	─────────	─────────
	Depreciation
	At 1 April 2024	2,037	8,036	2,883	12,956
	Charge for the financial year	1,415	5,372	1,532	8,319
		─────────	─────────	─────────	─────────
	At 31 March 2025	3,452	13,408	4,415	21,275
		─────────	─────────	─────────	─────────
	Net book value
	At 31 March 2025	7,393	25,002	12,917	45,312
		═════════	═════════	═════════	═════════
	At 31 March 2024	943	3,719	3,099	7,761
		═════════	═════════	═════════	═════════

Details of creditors

Security given in respect of creditors

Lloyds Bank Commercial Finance Limited hold a fixed and floating charge over all the property and other assets of the company dated 16 August 2021

Capital commitments

The company had no material capital commitments at the financial year-ended 31 March 2025.

Parent and ultimate parent company

The company regards Granning Group Limited as its parent company.

The companys ultimate parent undertaking is Pat Carson.

The address of Pat Carson is Northern Ireland.

Controlling interest

The company is controlled by Pat Carson by virtue of his controlling interest in Granning Group Limited.

10.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.