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REGISTERED NUMBER: 14876986 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

FOR

OLNEY GARAGES LIMITED

T/A

SOUL GARAGES

| OLNEY GARAGES LIMITED (REGISTERED NUMBER: 14876986) |

| T/A SOUL GARAGES |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| OLNEY GARAGES LIMITED |

| T/A SOUL GARAGES |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 JULY 2025

| DIRECTOR: | C J Gleghorn

| REGISTERED OFFICE: | Lime Street

| Olney

| Buckinghamshire

| MK45 5BA

| REGISTERED NUMBER: | 14876986 (England and Wales)

| ACCOUNTANTS: | Rawlinson Pryde & Partners

| Chartered Certified Accountants

| Argent House

| 5 Goldington Road

| Bedford

| Bedfordshire

| MK40 3JY

| OLNEY GARAGES LIMITED (REGISTERED NUMBER: 14876986) |

| T/A SOUL GARAGES |

BALANCE SHEET

31 JULY 2025

| 31.7.25 | 31.7.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 5,600 |  | 6,300 |  |

Tangible assets | 5 | 116,733 |  | 82,695 |  |

122,333 |  | 88,995 |  |

CURRENT ASSETS

Stocks | 8,067 |  | 2,084 |  |

Debtors | 6 | 42,127 |  | 21,325 |  |

Cash at bank and in hand | 109,085 |  | 69,538 |  |

159,279 |  | 92,947 |  |

CREDITORS

Amounts falling due within one year | 7 | 158,554 |  | 134,074 |  |

NET CURRENT ASSETS/(LIABILITIES) | 725 |  | (41,127 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 123,058 |  | 47,868 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (48,056 | ) | (48,555 | ) |

PROVISIONS FOR LIABILITIES | 10 | (14,555 | ) | - |  |

ACCRUALS AND DEFERRED INCOME | (3,563 | ) | (4,822 | ) |

NET ASSETS/(LIABILITIES) | 56,884 |  | (5,509 | ) |

CAPITAL AND RESERVES

Called up share capital | 11 | 100 |  | 100 |  |

Retained earnings | 56,784 |  | (5,609 | ) |

SHAREHOLDERS' FUNDS | 56,884 |  | (5,509 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

| OLNEY GARAGES LIMITED (REGISTERED NUMBER: 14876986) |

| T/A SOUL GARAGES |

BALANCE SHEET - continued

31 JULY 2025

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 March 2026 and were signed by:

C J Gleghorn - Director

| OLNEY GARAGES LIMITED (REGISTERED NUMBER: 14876986) |

| T/A SOUL GARAGES |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1. | STATUTORY INFORMATION

| Olney Garages 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover represents net invoiced vehicle repairs and sales of parts, excluding value added tax which is recognised when the invoice is raised.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Improvements to property | - | 10% on cost

| Plant and machinery | - | at varying rates on cost

| Fixtures and fittings | - | at varying rates on cost

| Motor vehicles | - | at varying rates on cost

| Computer equipment | - | at varying rates on cost

| Stocks

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

| OLNEY GARAGES LIMITED (REGISTERED NUMBER: 14876986) |

| T/A SOUL GARAGES |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

2. | ACCOUNTING POLICIES - continued

| 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. paid or received.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to profit and 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.

| OLNEY GARAGES LIMITED (REGISTERED NUMBER: 14876986) |

| T/A SOUL GARAGES |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

2. | ACCOUNTING POLICIES - continued

| 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 12 (2024 - 9 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 August 2024

| and 31 July 2025 | 7,000 |  |

| AMORTISATION

| At 1 August 2024 | 700 |  |

| Amortisation for year | 700 |  |

| At 31 July 2025 | 1,400 |  |

| NET BOOK VALUE

| At 31 July 2025 | 5,600 |  |

| At 31 July 2024 | 6,300 |  |

5. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures

| to |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 August 2024 | 14,560 |  | 59,186 |  | 2,245 |  |

| Additions | 32,910 |  | 41,029 |  | 251 |  |

| Disposals | - |  | (19,103 | ) | - |  |

| At 31 July 2025 | 47,470 |  | 81,112 |  | 2,496 |  |

| DEPRECIATION

| At 1 August 2024 | 214 |  | 6,407 |  | 226 |  |

| Charge for year | 3,035 |  | 22,037 |  | 773 |  |

| Eliminated on disposal | - |  | (10,550 | ) | - |  |

| At 31 July 2025 | 3,249 |  | 17,894 |  | 999 |  |

| NET BOOK VALUE

| At 31 July 2025 | 44,221 |  | 63,218 |  | 1,497 |  |

| At 31 July 2024 | 14,346 |  | 52,779 |  | 2,019 |  |

| OLNEY GARAGES LIMITED (REGISTERED NUMBER: 14876986) |

| T/A SOUL GARAGES |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

5. | TANGIBLE FIXED ASSETS - continued

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 August 2024 | 12,500 |  | 5,628 |  | 94,119 |  |

| Additions | 200 |  | 1,575 |  | 75,965 |  |

| Disposals | (300 | ) | - |  | (19,403 | ) |

| At 31 July 2025 | 12,400 |  | 7,203 |  | 150,681 |  |

| DEPRECIATION

| At 1 August 2024 | 3,583 |  | 994 |  | 11,424 |  |

| Charge for year | 4,564 |  | 2,965 |  | 33,374 |  |

| Eliminated on disposal | (300 | ) | - |  | (10,850 | ) |

| At 31 July 2025 | 7,847 |  | 3,959 |  | 33,948 |  |

| NET BOOK VALUE

| At 31 July 2025 | 4,553 |  | 3,244 |  | 116,733 |  |

| At 31 July 2024 | 8,917 |  | 4,634 |  | 82,695 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and

| machinery

£ |

| COST

| At 1 August 2024 | 15,497 |  |

| Additions | 5,000 |  |

| At 31 July 2025 | 20,497 |  |

| DEPRECIATION

| At 1 August 2024 | 863 |  |

| Charge for year | 1,927 |  |

| At 31 July 2025 | 2,790 |  |

| NET BOOK VALUE

| At 31 July 2025 | 17,707 |  |

| At 31 July 2024 | 14,634 |  |

| OLNEY GARAGES LIMITED (REGISTERED NUMBER: 14876986) |

| T/A SOUL GARAGES |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

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

| 31.7.25 |  | 31.7.24

£ | £ |

| Trade debtors | 10,945 |  | 13,057 |  |

| Other debtors | 9,036 |  | 5,206 |  |

| Deferred tax asset | - |  | 130 |  |

| Prepayments | 22,146 |  | 2,932 |  |

42,127 |  | 21,325 |  |

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

| 31.7.25 |  | 31.7.24

£ | £ |

| Hire purchase contracts | 5,221 |  | 7,920 |  |

| Trade creditors | 120,085 |  | 100,718 |  |

| Social security and other taxes | 12,535 |  | 6,096 |  |

| VAT | 15,635 |  | 11,851 |  |

| Credit card | 2,720 |  | 2,925 |  |

| Pension creditor | 1,438 |  | 1,522 |  |

| Directors' current accounts | 920 |  | 3,042 |  |

158,554 |  | 134,074 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.7.25 |  | 31.7.24

£ | £ |

| Hire purchase contracts | 3,056 |  | 3,555 |  |

| Directors' loan accounts | 45,000 |  | 45,000 |  |

48,056 |  | 48,555 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.7.25 |  | 31.7.24

£ | £ |

| Hire purchase contracts | 8,277 |  | 11,475 |  |

10. | PROVISIONS FOR LIABILITIES

| 31.7.25 |

£ |  |

| Deferred tax | 14,555 |  |

| OLNEY GARAGES LIMITED (REGISTERED NUMBER: 14876986) |

| T/A SOUL GARAGES |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JULY 2025

10. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Balance at 1 August 2024 | (130 | ) |

| Charge to Statement of Income and Retained Earnings during year | 14,685 |  |

| Balance at 31 July 2025 | 14,555 |  |

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.7.25 |  | 31.7.24

| value: | £ | £ |

| 1,000 | Ordinary | £100 | 100 |  | 100 |  |

12. | OTHER FINANCIAL COMMITMENTS

| Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £228,555 (2024: £263,952) and are in relation to commitments under operating and rental property leases.