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Registration number: 02533800

The Car Works (Norwich) Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 October 2025

The Car Works (Norwich) Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 5

The Car Works (Norwich) Limited

(Registration number: 02533800)
Balance Sheet as at 31 October 2025

| Note | 2025 £ | 2024 £
Current assets |  |  |
Stocks | 4 | 116,227 | 100,573
Debtors | 5 | 1,719 | 1,421
Cash at bank and in hand |  | 127 | 982
|  | 118,073 | 102,976
Creditors: Amounts falling due within one year | 6 | (224,070) | (191,018)
Net liabilities |  | (105,997) | (88,042)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | (106,097) | (88,142)
Shareholders' deficit |  | (105,997) | (88,042)

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 January 2026 and signed on its behalf by:

R A Lee Company secretary and director |  |

The Car Works (Norwich) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
29 Cheyne Walk
Chelsea
London
SW3 5HH

These financial statements were authorised for issue by the Board on 24 January 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Going concern

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

The Car Works (Norwich) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue for the sale of goods when all the following conditions are satisfied:
a) the significant risks and rewards of ownership have been transferred to the buyer;
b) the group retains no continuing involvement or control over the goods;
c) the amount of revenue can be reliably measured;
d) it is probable that future economic benefits will flow to the company; and
e) specific criteria have been met for each of the groups activities.
The company recognises revenue from the provision of services in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
a) the amount of revenue can be reliably measured;
b) it is probable that future economic benefit will flow to the company;
c) the stage of completion of the contract at the end of the reporting period can be reliably measured; and
d) the costs incurred and the costs to complete the contract can be reliably measured.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

The Car Works (Norwich) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2024 - 2).

4 | Stocks

| 2025 £ | 2024 £
Stock | 116,227 | 100,573

5 | Debtors

| 2025 £ | 2024 £
Trade debtors | - | 285
Other debtors | 619 | 1,136
Prepayments | 1,100 | -
| 1,719 | 1,421

The Car Works (Norwich) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

6 | Creditors

Due within one year | Note | 2025 £ | 2024 £
Amounts due to related parties | 7 | 221,570 | 188,118
Accruals |  | 2,500 | 2,900
|  | 224,070 | 191,018

7 | Related party transactions

Loans from related parties

2025 | Key management £ | Total £
At start of period | 188,118 | 188,118
Advanced | 33,452 | 33,452
At end of period | 221,570 | 221,570

2024 | Key management £ | Total £
At start of period | 166,004 | 166,004
Advanced | 22,114 | 22,114
At end of period | 188,118 | 188,118

Terms of loans from related parties

The loan is interest free and repayable on demand.