REGISTERED NUMBER: 00787857 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

FOR

CAR ELECTRONICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A J Marsden

Mr D Waddingham

Mr P Howland

Mr D A Coombs

Mr L M Andrews

REGISTERED OFFICE:

9 Oakland Road

Leicester

LE2 6AN

REGISTERED NUMBER:

00787857 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mark Harrison BA FCA

AUDITORS:

Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

BANKERS:

National Westminister Bank PLC

1 Granby Street

Leicester

Leicestershire

LE1 6EJ

SOLICITORS:

Shakespeare Martineau

2 Colton Square

Leicester

Leicestershire

LE1 1QH

FIXED ASSETS

Intangible assets

4

3,512

20,172

Tangible assets

5

61,377

422,479

Investment property

6

240,000

240,000

304,889

682,651

CURRENT ASSETS

Stocks

7

1,372,772

1,172,970

Debtors

8

1,284,740

1,008,506

Cash at bank and in hand

1,281,200

1,381,465

3,938,712

3,562,941

CREDITORS

Amounts falling due within one year

9

1,407,922

1,076,152

NET CURRENT ASSETS

2,530,790

2,486,789

TOTAL ASSETS LESS CURRENT LIABILITIES

2,835,679

3,169,440

PROVISIONS FOR LIABILITIES

11

42,251

85,738

NET ASSETS

2,793,428

3,083,702

CAPITAL AND RESERVES

Called up share capital

1,387

1,387

Revaluation reserve

12

-

237,353

Capital redemption reserve

763

763

Retained earnings

2,791,278

2,844,199

SHAREHOLDERS' FUNDS

2,793,428

3,083,702

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 May 2026 and were signed on its behalf by:

Mr A J Marsden - Director

1.	STATUTORY INFORMATION

Car Electronics 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 as modified by the revaluation of certain assets.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions entered into between wholly owned members of Celtrade Limited.

Turnover

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax. The following criteria must also be met before revenue is recognised.

Sale of goods

Revenue from the sale of goods is recognised at the earlier of the point of despatch or when the risk and rewards of ownership are transferred to the customer.

Rents received

Rents received are recognised on a straight line basis over the life of the rental agreement.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Freehold property

-

2% on cost

Fixtures and fittings

-

33% on cost and 15% on cost

Motor vehicles

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2025 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 February 2025

and 31 January 2026

188,203

AMORTISATION

At 1 February 2025

168,031

Charge for year

16,660

At 31 January 2026

184,691

NET BOOK VALUE

At 31 January 2026

3,512

At 31 January 2025

20,172

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2025

350,000

338,519

411,718

1,100,237

Additions

-

3,603

47,000

50,603

Disposals

(350,000

)

-

(37,000

)

(387,000

)

At 31 January 2026

-

342,122

421,718

763,840

DEPRECIATION

At 1 February 2025

-

322,882

354,876

677,758

Charge for year

-

9,936

51,769

61,705

Eliminated on disposal

-

-

(37,000

)

(37,000

)

At 31 January 2026

-

332,818

369,645

702,463

NET BOOK VALUE

At 31 January 2026

-

9,304

52,073

61,377

At 31 January 2025

350,000

15,637

56,842

422,479

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2025

and 31 January 2026

240,000

NET BOOK VALUE

At 31 January 2026

240,000

At 31 January 2025

240,000

Fair value at 31 January 2026 is represented by:

£

Valuation in 2026

240,000

If investment properties had not been revalued they would have been included at the following historical cost:

2026

2025

£

£

Cost

86,765

86,765

Included in investment property is a property with historical cost of £86,765 that was revalued at a total of £240,000 on 31 January 2026 by the directors of the company.

7.

STOCKS

2026

2025

£

£

Stocks

1,372,772

1,172,970

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,159,643

907,797

Other debtors

78,762

77,062

VAT

22,259

-

Prepayments

24,076

23,647

1,284,740

1,008,506

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

1,076,140

582,209

Taxation

117,495

187,901

Paye/Ni payable

11,316

12,181

VAT

-

185,438

Other creditors

23,052

1,771

Accruals and deferred income

179,919

106,652

1,407,922

1,076,152

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

78,000

78,000

Between one and five years

78,000

156,000

156,000

234,000

11.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

Accelerated capital allowances

15,197

21,465

Other timing differences

27,054

64,273

42,251

85,738

Deferred

tax

£

Balance at 1 February 2025

85,738

Movement

(43,487

)

Balance at 31 January 2026

42,251

12.

RESERVES

Revaluation

reserve

£

At 1 February 2025

237,353

Transfer to P & L account

(237,353

)

At 31 January 2026

-

Revaluation reserve

The revaluation reserve had arisen due to the revaluation of freehold properties and reflected the increase in value of those assets from their historical cost.

Capital redemption reserve

The capital redemption reserve is a non-distributable reserve arising from the redemption of the company's own shares.

Profit and loss account

This reserve includes all current and prior period retained profits and losses and cumulative revaluation gains or losses on investment properties. Included within the profit and loss account are amounts of £153,235 (2025: £153,235) which are non distributable.

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Harrison BA FCA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

14.	RELATED PARTY DISCLOSURES

The parent company at the balance sheet date is Celtrade Limited, a private limited company incorporated and registered in England and Wales.

In the year to January 2023, the company's employee ownership trust (EOT) acquired all shares in Celtrade Limited and holds them in a trust for employees.

The company leases it's head office from the Car Electronics Retirement Benefit Scheme, a related party by virtue of being the company's employee pension scheme.