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Registered number: OC351096 STABLE VEHICLE CONTRACTS LLP REPORT OF THE MEMBERS AND FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
STABLE VEHICLE CONTRACTS LLP REGISTERED NUMBER: OC351096 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 1,084 |  | 3,814
|  |  | 1,084 |  | 3,814
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 121,803 |  | 139,703 |
Cash at bank and in hand |  | 805,803 |  | 471,214 |
|  | 927,606 |  | 610,917 |
Creditors: Amounts Falling Due Within One Year | 7 | (469,950) |  | (296,381) |
Net current assets |  |  | 457,656 |  | 314,536
Total assets less current liabilities |  |  | 458,740 |  | 318,350
Net assets |  |  | 458,740 |  | 318,350
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Members' other interests |  |  |  |  |
Net Assets attributable to members |  | 458,740 |  | 318,350 |
|  |  | 458,740 |  | 318,350
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs. The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime. The financial statements were approved and authorised for issue by the members and were signed on their behalf by:
P Smyth for and on behalf Swansway Garages Limited
Designated member
Date: 20 April 2026
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STABLE VEHICLE CONTRACTS LLP RECONCILIATION OF MEMBERS' INTEREST FOR THE YEAR ENDED 31 DECEMBER 2025
| DEBT Loans and other debts due to members | Total Members' Interest
| £ | £
Amount due to members at 1 January 2025 | 318,350 | 318,350
Comprehensive income for the year |  |
Members' remuneration charged as an expense, including employment and retirement benefit costs | 458,849 | 458,849
Contributions by and distributions to members |  |
Drawings | (318,459) | (318,459)
Total transactions with members | (318,459) | (318,459)
Amounts due to members at 31 December 2025 | 458,740 | 458,740
The notes on pages 4 to 8 form part of these financial statements.
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STABLE VEHICLE CONTRACTS LLP RECONCILIATION OF MEMBERS' INTEREST FOR THE YEAR ENDED 31 DECEMBER 2024
| DEBT Loans and other debts due to members | Total Members Interest
| £ | £
Amount due to members at 1 January 2024 | 12,354 | 12,354
Comprehensive income for the year |  |
Members' remuneration charged as an expense, including employment and retirement benefit costs | 318,459 | 318,459
Contributions by and distributions to members |  |
Drawings | (12,463) | (12,463)
Total transactions with members | (12,463) | (12,463)
Amounts due to members at 31 December 2024 | 318,350 | 318,350
The notes on pages 4 to 8 form part of these financial statements.
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STABLE VEHICLE CONTRACTS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Stable Vehicle Contracts LLP is registered in England and Wales. The LLP's registered office address can be found on the General Information page. The presentation currency of the financial statements is the Pound Sterling (£).. 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.3 | Going concern
The Members continue to have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. As a consequence, the Members continue to adopt the going concern basis of accounting in preparing the financial statements. Page 4
STABLE VEHICLE CONTRACTS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2. Accounting policies (continued)
| 2.4 | Members' Participation Rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits). Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity. Profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment and the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense and presented as members remuneration charged as an expense in arriving at the result for the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities. Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as 'Loans and other debts due to members' to the extent they exceed debts due from a specific member. All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests. The capital (whether classified as a liability or equity) of an LLP may be reduced by agreement of the members either by repayment or by the conversion of equity capital into liability capital or other debt. In the absence of agreement to the contrary, unsecured debt due to members will rank equally with debts due to other unsecured creditors in a winding up.
| 2.5 | 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. Page 5
STABLE VEHICLE CONTRACTS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2. Accounting policies (continued)
| 2.5 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% - 33%
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.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factos that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are review on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
4. | Employees
| The average monthly number of employees, including directors, during the year was 10 (2024 - 11).
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STABLE VEHICLE CONTRACTS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost or valuation |
| At 1 January 2025 | 28,227
| At 31 December 2025 | 28,227
| Depreciation |
| At 1 January 2025 | 24,413
| Charge for the year on owned assets | 2,730
| At 31 December 2025 | 27,143
| Net book value |
| At 31 December 2025 | 1,084
| At 31 December 2024 | 3,814
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 46,548 | 20,451
| Amounts owed by group undertakings | - | 47,845
| Other debtors | 75,255 | 71,407
|  | 121,803 | 139,703
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STABLE VEHICLE CONTRACTS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 21,791 | 9,966
| Amounts owed to group undertakings | 172,761 | -
| Other taxation and social security | 106,809 | 133,076
| Other creditors | 168,589 | 153,339
|  | 469,950 | 296,381
| Loans and other debts due to members rank behind creditors, in accordance with the members' agreement.
8. | Contingent liabilities
The LLP is party to a cross guarantee over the assets of the group to which it belongs. This comprises both fixed and floating charges over all the assets of the LLP.
9. | Related party transactions
| During the year the LLP sold £961,145 (2024: £446,480) and purchased £106,643 (2024: £90,442) of goods to / from Swansway Garages Limited, a member. At the year end a net creditor of £172,761 (2024: £47,846 debtor) was outstanding. Included in other creditors are amounts of £79,948 (2024: £79,948) owed to three directors of Swansway Garages Limited.
10. | Controlling party
Swansway Garages Limited is the immediate parent company. Swansway Group Limited is the smallest and largest company for which consolidated accounts including Stable Vehicle Contracts LLP are prepared. The consolidated accounts of Swansway Group Limited are available from Companies House. The ultimate controlling party is considered to be Mr M. Smyth.
11. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 20 April 2026 by Paul Daly BEng FCA (Senior Statutory Auditor) on behalf of Cooper Parry Group Limited.
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