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Registration number: 8121650

T M Whitfield General Dealers Ltd
Unaudited Filleted Financial Statements
for the Year Ended 30 June 2025

T M Whitfield General Dealers Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

T M Whitfield General Dealers Ltd

Company Information

Directors | Mr Trevor Michael Whitfield Mr Mark Trevor Whitfield Mrs Sharon Jane Whitfield Mr Daniel Mark Whitfield Mr Macauley Scott Whitfield

Registered office | 2 Clyst Works Clyst Road Topsham Exeter Devon EX3 0DB

Accountants | Redwoods Chartered Certified Accountants2 Clyst Works Clyst Road Topsham Exeter Devon EX3 0DB

T M Whitfield General Dealers Ltd

(Registration number: 8121650)
Balance Sheet as at 30 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 357,880 | 403,261
Current assets |  |  |
Stocks | 5 | 110,000 | 109,250
Debtors | 6 | 106,838 | 65,209
Cash at bank and in hand |  | 795,107 | 1,033,225
|  | 1,011,945 | 1,207,684
Creditors: Amounts falling due within one year | 7 | (112,709) | (234,727)
Net current assets |  | 899,236 | 972,957
Total assets less current liabilities |  | 1,257,116 | 1,376,218
Provisions for liabilities |  | (80,575) | (91,685)
Net assets |  | 1,176,541 | 1,284,533
Capital and reserves |  |  |
Called up share capital | 8 | 200 | 200
Retained earnings |  | 1,176,341 | 1,284,333
Shareholders' funds |  | 1,176,541 | 1,284,533

For the financial year ending 30 June 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 23 February 2026 and signed on its behalf by:

......................................... Mr Trevor Michael Whitfield Director | ......................................... Mr Mark Trevor Whitfield Director |

T M Whitfield General Dealers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1 | General information

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

The address of its registered office is:
2 Clyst Works
Clyst Road
Topsham
Exeter
Devon
EX3 0DB

The principal place of business is:
St Andrews Farm
Kentisbeare
Cullompton
Devon
EX15 2BZ

These financial statements were authorised for issue by the Board on 23 February 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).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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 accounts are presented in £ Sterling and rounded to the nearest £1.

T M Whitfield General Dealers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Going concern

Judgements

In the application of the company’s accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Key sources of estimation uncertainty

Depreciation of tangible fixed assets. This by nature is an estimate and the actual market values of assets may be different to the values presented in the accounts. The fixed assets are shown on the balance sheet in the financial statements. .

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

T M Whitfield General Dealers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 15% reducing balance
Motor vehicles | 20% reducing balance
Office equipment | 15% reducing balance

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.

Trade 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 inventories 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

T M Whitfield General Dealers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade and other accounts receivable and payable and loans from banks/other third parties.
Recognition and measurement
Debt instruments like loans are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payable or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. In the case of a non current liability not at a market rate of interest, the financial liability is measured initially and subsequently at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows, discounted at the assets original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

T M Whitfield General Dealers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

4 | tangible assets

| Land and buildings £ | Plant and machinery £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 July 2024 | 31,320 | 731,905 | 1,140 | 124,867 | 889,232
Additions | - | 10,734 | - | 5,698 | 16,432
At 30 June 2025 | 31,320 | 742,639 | 1,140 | 130,565 | 905,664
Depreciation
At 1 July 2024 | - | 425,911 | 538 | 59,522 | 485,971
Charge for the year | - | 47,514 | 90 | 14,209 | 61,813
At 30 June 2025 | - | 473,425 | 628 | 73,731 | 547,784
Carrying amount
At 30 June 2025 | 31,320 | 269,214 | 512 | 56,834 | 357,880
At 30 June 2024 | 31,320 | 305,994 | 602 | 65,345 | 403,261

Included within the net book value of land and buildings above is £31,320 (2024 - £31,320) in respect of freehold land and buildings.

T M Whitfield General Dealers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

5 | Stocks

| 2025 £ | 2024 £
Raw materials and consumables | 110,000 | 109,250

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 75,843 | 49,740
Prepayments | 16,609 | 15,469
Other debtors | 14,386 | -
| 106,838 | 65,209

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 21,918 | 11,904
Taxation and social security | 63,649 | 128,277
Other creditors | 27,142 | 94,546
| 112,709 | 234,727

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 100 | 100 | 100 | 100
Ordinary A of £1 each | 50 | 50 | 50 | 50
Ordinary B of £1 each | 25 | 25 | 25 | 25
Ordinary C of £1 each | 15 | 15 | 15 | 15
Ordinary D of £1 each | 10 | 10 | 10 | 10
| 200 | 200 | 200 | 200