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Registered number: 01988026 BUSINESS LINES LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
BUSINESS LINES LIMITED REGISTERED NUMBER: 01988026 BALANCE SHEET AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 6 |  | - |  | 8,982
Tangible assets | 7 |  | 140,752 |  | 140,037
Investments | 8 |  | 206 |  | 206
|  |  | 140,958 |  | 149,225
Current assets |  |  |  |  |
Stocks | 9 | 302,780 |  | 278,367 |
Debtors: amounts falling due within one year | 10 | 867,507 |  | 432,594 |
Cash at bank and in hand |  | 208,864 |  | 59,197 |
|  | 1,379,151 |  | 770,158 |
Creditors: amounts falling due within one year | 11 | (520,528) |  | (330,295) |
Net current assets |  |  | 858,623 |  | 439,863
Total assets less current liabilities |  |  | 999,581 |  | 589,088
Provisions for liabilities |  |  |  |  |
Deferred tax | 12 |  | (15,323) |  | (26,325)
Net assets |  |  | 984,258 |  | 562,763
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 984,158 |  | 562,663
|  |  | 984,258 |  | 562,763
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 February 2026. Page 1
BUSINESS LINES LIMITED REGISTERED NUMBER: 01988026 BALANCE SHEET (CONTINUED) AS AT 31 JULY 2025
Mr M Depelteau
Director
The notes on pages 5 to 13 form part of these financial statements. Page 2
BUSINESS LINES LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 August 2024 | 100 | 562,663 | 562,763
Comprehensive income for the year |  |  |
Profit for the year | - | 421,495 | 421,495
Other comprehensive income for the year | - | - | -
Total comprehensive income for the year | - | 421,495 | 421,495
Total transactions with owners | - | - | -
At 31 July 2025 | 100 | 984,158 | 984,258
| The notes on pages 5 to 13 form part of these financial statements.
Page 3
BUSINESS LINES LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 August 2023 | 100 | 1,599,094 | 1,599,194
Comprehensive income for the year |  |  |
Profit for the year | - | 2,026,793 | 2,026,793
Other comprehensive income for the year | - | - | -
Total comprehensive income for the year | - | 2,026,793 | 2,026,793
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (3,063,224) | (3,063,224)
Total transactions with owners | - | (3,063,224) | (3,063,224)
At 31 July 2024 | 100 | 562,663 | 562,763
| The notes on pages 5 to 13 form part of these financial statements.
Page 4
BUSINESS LINES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. | General information
Business Lines Limited is a private company limited by shares, incorporated in England and Wales (registered number: 01988026). Its registered office is Unit 9 Kellet Road Indsutrial Estate, Carnforth, Lancashire LA5 9XP. The principal activity of the company throughout the year continued to be that of wholesale trade of motor vehicle parts and accessories. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 5
BUSINESS LINES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.3 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Sale of goods Turnover from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of turnover can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.5 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 6
BUSINESS LINES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.6 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3. | Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
4. | Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life. Goodwill has now been fully written off.
| 4.1 | Intangible assets
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probably that the expected future economic benefits that are attributable The estimated useful lives range as follows:
|  |  |  | Development expenditure | - |  | 25% straight line
Page 7
BUSINESS LINES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 4.2 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% on written down value
|  |  |  | Motor vehicles | - | 25% on written down value
|  |  |  | Fixtures and fittings | - | 33.3% on written down value
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 4.3 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is 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.
| 4.4 | Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. Entities in which the company has a long-term interest and shares control under a contractual arrangement are classified as jointly controlled entities. Page 8
BUSINESS LINES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 4.5 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 4.6 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 4.7 | Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Balance sheet 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.
5. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Employees | 9 | 10
Page 9
BUSINESS LINES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
6. | Intangible assets
|  | Development expenditure | Goodwill | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 August 2024 | 35,934 | 283,491 | 319,425
| At 31 July 2025 | 35,934 | 283,491 | 319,425
| Amortisation |  |  |
| At 1 August 2024 | 26,952 | 283,491 | 310,443
| Charge for the year | 8,982 | - | 8,982
| At 31 July 2025 | 35,934 | 283,491 | 319,425
| Net book value |  |  |
| At 31 July 2025 | - | - | -
| At 31 July 2024 | 8,982 | - | 8,982
Page 10
BUSINESS LINES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
7. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost |  |  |  |
| At 1 August 2024 | 462,023 | 52,172 | 95,196 | 609,391
| Additions | - | 37,557 | 4,187 | 41,744
| Disposals | (3,339) | (24,163) | (1,358) | (28,860)
| At 31 July 2025 | 458,684 | 65,566 | 98,025 | 622,275
| Depreciation |  |  |  |
| At 1 August 2024 | 348,780 | 41,050 | 79,524 | 469,354
| Charge for the year | 22,577 | 9,213 | 5,252 | 37,042
| Disposals | (2,982) | (20,811) | (1,080) | (24,873)
| At 31 July 2025 | 368,375 | 29,452 | 83,696 | 481,523
| Net book value |  |  |  |
| At 31 July 2025 | 90,309 | 36,114 | 14,329 | 140,752
| At 31 July 2024 | 113,243 | 11,122 | 15,672 | 140,037
8. | Fixed asset investments
|  | Investments in subsidiary company
|  | £
| Cost |
| At 1 August 2024 | 206
| At 31 July 2025 | 206
| Investments are included in the financial statements at cost of acquisition less any impairment as all investments relate to unlisted companies.
Page 11
BUSINESS LINES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
9. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 302,780 | 278,367
10. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 485,645 | 412,509
| Amounts owed by group undertakings | 360,875 | -
| Other debtors | - | 3,671
| Prepayments and accrued income | 20,987 | 16,414
|  | 867,507 | 432,594
11. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 83,389 | 146,713
| Amounts owed to group undertakings | 209,109 | -
| Corporation tax | 151,413 | 77,437
| Other taxation and social security | 59,819 | 58,240
| Other creditors | 3,543 | 10,825
| Accruals and deferred income | 13,255 | 37,080
|  | 520,528 | 330,295
12. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | 26,325
| Charged to profit or loss | (11,002)
| At end of year | 15,323
Page 12
BUSINESS LINES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 12.Deferred taxation (continued)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | 15,323 | 26,325
13. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,944 (2024 - £5,922).Contributions totalling £1,813 (2024: £NIL) were payable to the fund at the Balance Sheet date and are included in creditors.
14. | Related party transactions
| The company has taken advantage of the exemption under paragraph 33.1A from the provisions of section 33 of FRS 102. Related party disclosures, from disclosing transaction with wholly owned subsidiary undertakings.
15. | Controlling party
The immediate only parent undertaking and controlling party is Martins Industries UK Limited. The registered office of Martins Industries are Unit 9 Kellet Road Industrial Estate, Boundary Lane, Carnforth, England, LA5 9XP. The ultimate parent undertaking and controlling part is Industries Martins Inc. The registered offiice of Industries Martins Inc is 1850-1 Carre Westmount, Westmount QZ, H3Z 2P9, Canada.
16. | Auditors' information
The auditors' report on the financial statements for the year ended 31 July 2025 was unqualified. The audit report was signed on 17 February 2026 by Andrew Irvine (Senior Statutory Auditor) on behalf of Shorts Chartered Accountants & Statutory Auditors.
Page 13