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REGISTERED NUMBER: 09897495 (England and Wales)

| STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| FOR |

| NUNEATON CAR SALES LTD |

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 December 2024

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 3 |

| Report of the Independent Auditors | 4 |

| Income Statement | 7 |

| Other Comprehensive Income | 8 |

| Balance Sheet | 9 |

| Statement of Changes in Equity | 10 |

| Cash Flow Statement | 11 |

| Notes to the Cash Flow Statement | 12 |

| Notes to the Financial Statements | 13 |

| NUNEATON CAR SALES LTD |

COMPANY INFORMATION

for the year ended 31 December 2024

| DIRECTOR: | P D Flemans

| REGISTERED OFFICE: | 70 Hinckley Road

| Nuneaton

| Warwickshire

| CV11 6LS

| REGISTERED NUMBER: | 09897495 (England and Wales)

| AUDITORS: | HB&O Ltd

| Chartered Accountants and Statutory Auditors

| Seven Stars House

| 1 Wheler Road

| Coventry

| CV3 4LB

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

STRATEGIC REPORT

for the year ended 31 December 2024

The director presents his strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and nature of the business and is written in the context of the risks and uncertainties it faces.

We consider that the key financial performance indicators are those that communicate the financial performance and strength of revenue, gross profit, profit before tax, cash reserves and net assets.

PRINCIPAL RISKS AND UNCERTAINTIES

As for many businesses of its size, the business environment in which the company operates continues to present risks and uncertainties. The key risk is considered to be bound up with the confidence in the sectors in which the company operates in particular as well as the wider economy in general.

ON BEHALF OF THE BOARD:

P D Flemans - Director

30 January 2026

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

REPORT OF THE DIRECTOR

for the year ended 31 December 2024

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the sale of used vehicles.

DIVIDENDS

During the year dividends totalling £33,000 (2023 - £nil) were voted.

DIRECTOR

P D Flemans held office during the whole of the period from 1 January 2024 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT

Information on the company's review of the business, principal risks and uncertainties and future developments is not shown in the directors' report as it is shown in the strategic report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

P D Flemans - Director

30 January 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NUNEATON CAR SALES LTD

Opinion

We have audited the financial statements of Nuneaton Car Sales Ltd (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NUNEATON CAR SALES LTD

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of director's remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit process includes an assessment of the entity's risk environment, through enquiry of and discussion with management, including an assessment of any key laws and regulations with which the company must comply in the ordinary course of its business.

Additionally, the overall risks of irregular transactions occurring are assessed following our observations and confirmation of the design and implementation of management's controls. Whilst we are mindful of these risks, our audit focus is geared towards the risk of material misstatement in the financial statements as a whole.

As such, our procedures cannot guarantee that all transactions have been fully compliant with all relevant laws and regulations, including those regulations relating to fraud, as our procedures are not designed to detect all instances of non-compliance. By definition, the risk of our detection of non-compliance is greater where compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. The risk is also greater regarding irregularities due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Comparative information

We draw attention to the fact that the financial statements for the year ended 31 December 2023 were unaudited. As such the figures included in the columns headed "2023" in these financial statements are similarly unaudited.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

NUNEATON CAR SALES LTD

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Gregg Olner MPhil BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

Chartered Accountants and Statutory Auditors

Seven Stars House

1 Wheler Road

Coventry

CV3 4LB

30 January 2026

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

INCOME STATEMENT

for the year ended 31 December 2024

| 2024 |  | 2023

| Notes | £ | £ |

TURNOVER | 33,036,976 |  | 29,511,117 |  |

Cost of sales | 28,996,273 |  | 26,188,180 |  |

GROSS PROFIT | 4,040,703 |  | 3,322,937 |  |

Administrative expenses | 3,659,230 |  | 2,966,572 |  |

381,473 |  | 356,365 |  |

Other operating income | 323,907 |  | 327,948 |  |

OPERATING PROFIT | 4 | 705,380 |  | 684,313 |  |

Interest payable and similar expenses | 5 | 237,207 |  | 187,766 |  |

PROFIT BEFORE TAXATION | 468,173 |  | 496,547 |  |

Tax on profit | 6 | 110,833 |  | 125,262 |  |

PROFIT FOR THE FINANCIAL YEAR | 357,340 |  | 371,285 |  |

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

OTHER COMPREHENSIVE INCOME

for the year ended 31 December 2024

| 2024 |  | 2023

| Notes | £ | £ |

PROFIT FOR THE YEAR | 357,340 |  | 371,285 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 357,340 |  | 371,285 |  |

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

BALANCE SHEET

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 177,505 |  | 170,420 |  |

CURRENT ASSETS

Stocks | 9 | 4,529,998 |  | 3,465,692 |  |

Debtors | 10 | 1,244,841 |  | 1,478,872 |  |

Cash at bank and in hand | 283,929 |  | 461,348 |  |

6,058,768 |  | 5,405,912 |  |

CREDITORS

Amounts falling due within one year | 11 | 5,035,852 |  | 4,698,952 |  |

NET CURRENT ASSETS | 1,022,916 |  | 706,960 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,200,421 |  | 877,380 |  |

PROVISIONS FOR LIABILITIES | 13 | 19,495 |  | 20,794 |  |

NET ASSETS | 1,180,926 |  | 856,586 |  |

CAPITAL AND RESERVES

Called up share capital | 14 | 100 |  | 100 |  |

Retained earnings | 15 | 1,180,826 |  | 856,486 |  |

SHAREHOLDERS' FUNDS | 1,180,926 |  | 856,586 |  |

The financial statements were approved by the director and authorised for issue on 30 January 2026 and were signed by:

P D Flemans - Director

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

STATEMENT OF CHANGES IN EQUITY

for the year ended 31 December 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 January 2023 | 100 |  | 485,201 |  | 485,301 |  |

Changes in equity

Total comprehensive income | - |  | 371,285 |  | 371,285 |  |

Balance at 31 December 2023 | 100 |  | 856,486 |  | 856,586 |  |

Changes in equity

Dividends | - |  | (33,000 | ) | (33,000 | ) |

Total comprehensive income | - |  | 357,340 |  | 357,340 |  |

Balance at 31 December 2024 | 100 |  | 1,180,826 |  | 1,180,926 |  |

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

CASH FLOW STATEMENT

for the year ended 31 December 2024

| 2024 |  | 2023

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 743,895 |  | 987,958 |  |

Interest paid | (237,207 | ) | (187,766 | ) |

Tax paid | (109,519 | ) | (113,527 | ) |

Net cash from operating activities | 397,169 |  | 686,665 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (53,536 | ) | (89,571 | ) |

Net cash from investing activities | (53,536 | ) | (89,571 | ) |

Cash flows from financing activities

Amount introduced by directors | 283,839 |  | 237,639 |  |

Amount withdrawn by directors | (771,891 | ) | (777,285 | ) |

Equity dividends paid | (33,000 | ) | - |  |

Net cash from financing activities | (521,052 | ) | (539,646 | ) |

(Decrease)/increase in cash and cash equivalents | (177,419 | ) | 57,448 |  |

Cash and cash equivalents at beginning of year | 2 | 461,348 |  | 403,900 |  |

Cash and cash equivalents at end of year | 2 | 283,929 |  | 461,348 |  |

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

NOTES TO THE CASH FLOW STATEMENT

for the year ended 31 December 2024

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2024 |  | 2023

£ | £ |

| Profit before taxation | 468,173 |  | 496,547 |  |

| Depreciation charges | 46,451 |  | 44,992 |  |

| Finance costs | 237,207 |  | 187,766 |  |

751,831 |  | 729,305 |  |

| (Increase)/decrease in stocks | (1,064,306 | ) | 592,622 |  |

| Decrease/(increase) in trade and other debtors | 234,031 |  | (1,127,413 | ) |

| Increase in trade and other creditors | 822,339 |  | 793,444 |  |

| Cash generated from operations | 743,895 |  | 987,958 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 December 2024

| 31.12.24 |  | 1.1.24

£ | £ |

| Cash and cash equivalents | 283,929 |  | 461,348 |  |

| Year ended 31 December 2023

| 31.12.23 |  | 1.1.23

£ | £ |

| Cash and cash equivalents | 461,348 |  | 403,900 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.1.24 | Cash flow | At 31.12.24

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 461,348 |  | (177,419 | ) | 283,929 |  |

461,348 |  | (177,419 | ) | 283,929 |  |

| Total | 461,348 |  | (177,419 | ) | 283,929 |  |

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2024

1. | STATUTORY INFORMATION

| Nuneaton Car Sales Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

| Significant judgements and estimates

| The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual amounts. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are addressed below.

| i) Inventory provisioning

| The company holds fairly significant levels of inventory at any point, which is inherently subject to impairment as the stock ages. When considering the inventory provision, management consider both the historic movement of individual lines and the wider market appetite. This historic and market data is used by management when determining the associated provisioning required. See note 9 for the net carrying amount of the inventory and associated impairment provision.

| Turnover

| Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

| Tangible fixed assets

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

| Plant & machinery | - | 25% on reducing balance

| Fixtures & fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| 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

| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment.

| 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 income statement.

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

3. | EMPLOYEES AND DIRECTORS

| 2024 |  | 2023

£ | £ |

| Wages and salaries | 1,974,387 |  | 1,758,427 |  |

| Social security costs | 177,248 |  | 137,270 |  |

| Other pension costs | 25,596 |  | 18,773 |  |

2,177,231 |  | 1,914,470 |  |

| The average number of employees during the year was as follows:

| 2024 |  | 2023

| Operations | 54 |  | 42 |  |

| 2024 |  | 2023

£ | £ |

| Director's remuneration | - |  | - |  |

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2024 |  | 2023

£ | £ |

| Other operating leases | 269,100 |  | 153,250 |  |

| Depreciation - owned assets | 46,451 |  | 44,992 |  |

| Auditors' remuneration | 15,000 |  | - |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2024 |  | 2023

£ | £ |

| Bank interest | 53 |  | - |  |

| Other interest paid | 237,154 |  | 187,766 |  |

237,207 |  | 187,766 |  |

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2024 |  | 2023

£ | £ |

| Current tax:

| UK corporation tax | 112,132 |  | 109,550 |  |

| Deferred tax | (1,299 | ) | 15,712 |  |

| Tax on profit | 110,833 |  | 125,262 |  |

| UK corporation tax has been charged at 25% (2023 - 23.50%).

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2024 |  | 2023

£ | £ |

| Profit before tax | 468,173 |  | 496,547 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.520%) | 117,043 |  | 116,788 |  |

| Effects of:

| Expenses not deductible for tax purposes | (4,765 | ) | 2,584 |  |

| Capital allowances in excess of depreciation | (1,445 | ) | - |  |

| Depreciation in excess of capital allowances | - |  | 5,890 |  |

| Total tax charge | 110,833 |  | 125,262 |  |

| UK corporation tax rate has been charged at to 25% and is set to remain at 25% for the foreseeable future.

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

7. | DIVIDENDS

| 2024 |  | 2023

£ | £ |

| Ordinary Shares shares of £1 each

| Interim | 33,000 |  | - |  |

8. | TANGIBLE FIXED ASSETS

| Plant & |  | Fixtures |  | Motor |

| machinery |  | & fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2024 | 139,961 |  | 38,010 |  | 52,383 |  | 230,354 |  |

| Additions | 32,095 |  | 21,441 |  | - |  | 53,536 |  |

| At 31 December 2024 | 172,056 |  | 59,451 |  | 52,383 |  | 283,890 |  |

| DEPRECIATION

| At 1 January 2024 | 34,513 |  | 9,912 |  | 15,509 |  | 59,934 |  |

| Charge for year | 29,533 |  | 7,700 |  | 9,218 |  | 46,451 |  |

| At 31 December 2024 | 64,046 |  | 17,612 |  | 24,727 |  | 106,385 |  |

| NET BOOK VALUE

| At 31 December 2024 | 108,010 |  | 41,839 |  | 27,656 |  | 177,505 |  |

| At 31 December 2023 | 105,448 |  | 28,098 |  | 36,874 |  | 170,420 |  |

9. | STOCKS

2024 | 2023 |

£ | £ |

| Stocks | 4,529,998 |  | 3,465,692 |  |

| An impairment loss of £400,000 (2023: £630,000) was recognised in cost of sales against stock during the year.

10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 248,393 |  | 325,098 |  |

| Other debtors | 4,175 |  | 4,683 |  |

| Nuneaton Property Holdings Ltd | 907,761 |  | 1,071,966 |  |

| Prepayments and accrued income | 84,512 |  | 77,125 |  |

1,244,841 |  | 1,478,872 |  |

| All debtors are financial assets that are basic debt instruments measured at amortised cost.

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade creditors | 407,928 |  | 338,184 |  |

| Tax | 112,163 |  | 109,550 |  |

| Social security and other taxes | 88,950 |  | 38,277 |  |

| VAT | 105,822 |  | 68,868 |  |

| Other creditors | 2,849,053 |  | 2,233,274 |  |

| Net wages | 125,737 |  | 103,221 |  |

| Directors' current accounts | 1,186,238 |  | 1,674,290 |  |

| Accruals and deferred income | 159,961 |  | 133,288 |  |

5,035,852 |  | 4,698,952 |  |

| All creditors due within one year are financial liabilities which are basic financial debt instruments measured at amortised cost.

12. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Stocking loans | 2,767,254 |  | 2,171,255 |  |

| The stocking loans are secured on the vehicles to which they relate.

13. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 19,495 |  | 20,794 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 20,794 |  |

| Provided during year | (1,299 | ) |

| Balance at 31 December 2024 | 19,495 |  |

14. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 100 | Ordinary Shares | £1 | 100 |  | 100 |  |

| All ordinary shares rank pari passu with respect to voting rights, the rights to distribution of dividends and the repayment of capital.

| NUNEATON CAR SALES LTD (REGISTERED NUMBER: 09897495) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

15. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2024 | 856,486 |  |

| Profit for the year | 357,340 |  |

| Dividends | (33,000 | ) |

| At 31 December 2024 | 1,180,826 |  |

| Retained earnings

| This reserve represents all current and prior period retained profits and losses.

16. | PENSION COMMITMENTS

| The pension charge of £25,596 (2023: £18,773) represents contributions to the defined contribution scheme. At the year end, contributions of £5,726 (2023: £4,073) were outstanding.

17. | RELATED PARTY DISCLOSURES

| Key management

| Key management are considered to be the directors, whose remuneration is disclosed in the preceding notes of these financial statements.

| Nuneaton Property Holdings Limited

| During the financial year, the company was charged rent of £90,000 (2023: £nil) by Nuneaton Property Holdings Limited and as disclosed in Note 10 was owed £907,761 (2023: £1,071,966) as at 31 December 2024 by Nuneaton Property Holdings Limited.

18. | CONTROLLING INTERESTS

| The director is considered to be the ultimate controlling party in respect of the financial and operating policies of the company.