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COMPANY REGISTRATION NUMBER: 1654861

Gareth J Hughes (Motors) Limited

Filleted Unaudited Financial Statements

31 October 2025

Gareth J Hughes (Motors) Limited

Financial Statements

Year ended 31 October 2025

Contents | Pages

Statement of financial position | 1 to 2

Notes to the financial statements | 3 to 7

Gareth J Hughes (Motors) Limited

Statement of Financial Position

31 October 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Tangible assets | 6 | 575,966 | 547,180

Current assets

Stocks | 1,020,446 | 902,419
Debtors | 7 | 791,338 | 728,054
Cash at bank and in hand | 59,898 | 162,616
| ------------ | ------------
| 1,871,682 | 1,793,089

Creditors: amounts falling due within one year | 8 | ( 1,147,807) | ( 1,048,321)
| ------------ | ------------
Net current assets | 723,875 | 744,768
| ------------ | ------------
Total assets less current liabilities | 1,299,841 | 1,291,948

Creditors: amounts falling due after more than one year | 9 | ( 275,409) | ( 303,739)

Provisions

Taxation including deferred tax | 10 | ( 34,426) | ( 34,507)
| ------------ | ------------
Net assets | 990,006 | 953,702
| ------------ | ------------

Capital and reserves

Called up share capital | 12 | 720 | 720
Capital redemption reserve | 40 | 40
Profit and loss account | 989,246 | 952,942
| --------- | ---------
Shareholders funds | 990,006 | 953,702
| --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Gareth J Hughes (Motors) Limited

Statement of Financial Position (continued)

31 October 2025
These financial statements were approved by the board of directors and authorised for issue on 1 April 2026 , and are signed on behalf of the board by:

Mr GJ Hughes
Director

Company registration number: 1654861

Gareth J Hughes (Motors) Limited

Notes to the Financial Statements

Year ended 31 October 2025
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 25 Sardis Cross, Burton, Milford Haven, Pembrokeshire, SA73 1LY.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Buildings | - | 2% straight line
| Plant & Machinery | - | 15% reducing balance
| Fixtures & Fittings | - | 15% reducing balance
| Motor Vehicles | - | 25% reducing balance

No depreciation is provided for on Land.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 26 (2024: 21 ).
5. Tax on profit
Major components of tax expense

| 2025 | 2024
| £ | £

Current tax:

UK current tax expense | 5,011 | 17,031
Adjustments in respect of prior periods | – | ( 1,099)
| ------- | --------
Total current tax | 5,011 | 15,932
| ------- | --------

Deferred tax:

Origination and reversal of timing differences | ( 81) | 12,960
| ------- | --------
Tax on profit | 4,930 | 28,892
| ------- | --------

6. Tangible assets

| Land & Buildings | Plant & Machinery | Fixtures & Fittings | Motor Vehicles | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 November 2024 | 480,695 | 340,969 | 120,211 | 9,000 | 950,875
Additions | 13,629 | 45,827 | 8,344 | – | 67,800
| --------- | --------- | --------- | ------- | ------------
At 31 October 2025 | 494,324 | 386,796 | 128,555 | 9,000 | 1,018,675
| --------- | --------- | --------- | ------- | ------------
Depreciation |  |  |  |  |
At 1 November 2024 | 98,908 | 218,025 | 78,963 | 7,799 | 403,695
Charge for the year | 5,959 | 25,316 | 7,439 | 300 | 39,014
| --------- | --------- | --------- | ------- | ------------
At 31 October 2025 | 104,867 | 243,341 | 86,402 | 8,099 | 442,709
| --------- | --------- | --------- | ------- | ------------
Carrying amount |  |  |  |  |
At 31 October 2025 | 389,457 | 143,455 | 42,153 | 901 | 575,966
| --------- | --------- | --------- | ------- | ------------
At 31 October 2024 | 381,787 | 122,944 | 41,248 | 1,201 | 547,180
| --------- | --------- | --------- | ------- | ------------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 101,811 | 95,478
Other debtors | 689,527 | 632,576
| --------- | ---------
| 791,338 | 728,054
| --------- | ---------

Other debtors include an amount of £nil (2024 - £nil) falling due after more than one year.
8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts (secured) | 38,642 | 57,247
Trade creditors | 93,473 | 136,881
Corporation tax | 5,011 | 17,031
Social security and other taxes | 93,451 | 12,730
Stocking loan | 845,216 | 733,596
Other creditors | 72,014 | 90,836
| ------------ | ------------
| 1,147,807 | 1,048,321
| ------------ | ------------

Within stocking loan an amount of £503,629 (2024 - £272,214) is secured by a legal charge held by Volkswagen Financial Services (UK) Limited over the property of the company.
9. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts (secured) | 275,409 | 303,739
| --------- | ---------

Included within creditors: amounts falling due after more than one year is an amount of £227,507 (2024: £208,074) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bank facilities are secured by legal charges held by National Westminster Bank PLC over the property and assets of the company.
10. Provisions

| Deferred tax (note 11)
| £
At 1 November 2024 | 34,507
Charge against provision | ( 81)
| --------
At 31 October 2025 | 34,426
| --------

11. Deferred tax
The deferred tax included in the statement of financial position is as follows:

| 2025 | 2024
| £ | £
Included in provisions (note 10) | 34,426 | 34,507
| -------- | --------

The deferred tax account consists of the tax effect of timing differences in respect of:

| 2025 | 2024
| £ | £
Accelerated capital allowances | 34,426 | 34,507
| -------- | --------

12. Called up share capital
Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 360 | 360 | 360 | 360
Ordinary A shares of £ 1 each | 320 | 320 | 320 | 320
Ordinary B shares of £ 1 each | 20 | 20 | 20 | 20
Ordinary D shares of £ 1 each | 20 | 20 | 20 | 20
| ---- | ---- | ---- | ----
| 720 | 720 | 720 | 720
| ---- | ---- | ---- | ----

13. Related party transactions
The company was under the control of Mr GJ Hughes throughout the current and previous year. Mr GJ Hughes is the managing director and majority shareholder. During the year the company paid dividends totalling £1,500 (2024 - £1,500) to the shareholders.