Varteg Motors Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05845689 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

VARTEG MOTORS LIMITED

T/A

PHIL ANSLOW COACHES

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

2,867,793

2,392,794

Investments

5

10

2,867,803

2,392,804

CURRENT ASSETS

Stocks

30,419

25,855

Debtors

6

2,099,441

2,041,589

Cash at bank and in hand

237,797

139,858

2,367,657

2,207,302

CREDITORS

Amounts falling due within one year

7

559,342

560,957

NET CURRENT ASSETS

1,808,315

1,646,345

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,676,118

4,039,149

CREDITORS

Amounts falling due after more than one year

8

(864,029

)

(606,323

)

PROVISIONS FOR LIABILITIES

(700,586

)

(592,892

)

NET ASSETS

3,111,503

2,839,934

CAPITAL AND RESERVES

Called up share capital

11

100

Retained earnings

3,111,403

2,839,834

SHAREHOLDERS' FUNDS

3,111,503

2,839,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 30 April 2026 and were signed on its behalf by:

Mr P Anslow - Director

1.	STATUTORY INFORMATION

Varteg Motors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05845689

Registered office:

13-14 Gelliwastad Road

Pontypridd

Rhondda Cynon Taf

CF37 2BW

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.

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

Therefore the financial statements have been prepared on a going concern basis.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 20% on cost and 15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 61 (2024 - 62 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2024

4,758,915

Additions

1,115,590

Disposals

(147,000

)

At 31 August 2025

5,727,505

DEPRECIATION

At 1 September 2024

2,366,121

Charge for year

601,483

Eliminated on disposal

(107,892

)

At 31 August 2025

2,859,712

NET BOOK VALUE

At 31 August 2025

2,867,793

At 31 August 2024

2,392,794

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 September 2024

1,078,000

Additions

963,095

At 31 August 2025

2,041,095

DEPRECIATION

At 1 September 2024

207,667

Charge for year

268,790

At 31 August 2025

476,457

NET BOOK VALUE

At 31 August 2025

1,564,638

At 31 August 2024

870,333

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2024

and 31 August 2025

10

NET BOOK VALUE

At 31 August 2025

10

At 31 August 2024

10

6.

DEBTORS

31/8/25

31/8/24

£

Amounts falling due within one year:

Trade debtors

151,818

205,823

Amounts owed by group undertakings

713,552

667,225

Other debtors

334,071

268,541

1,199,441

1,141,589

31/8/25

31/8/24

£

Amounts falling due after more than one year:

Other debtors

900,000

Aggregate amounts

2,099,441

2,041,589

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/8/25

31/8/24

£

Bank loans and overdrafts

50,000

Hire purchase contracts

250,329

103,036

Trade creditors

46,593

92,013

Taxation and social security

29,055

132,451

Other creditors

183,365

183,457

559,342

560,957

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/8/25

31/8/24

£

Bank loans

16,667

66,667

Hire purchase contracts

847,362

539,656

864,029

606,323

9.	SECURED DEBTS

The following secured debts are included within creditors:

31/8/25

31/8/24

£

Hire purchase contracts

1,097,691

642,692

Hire purchase liabilities are secured against the assets to which they relate.

10.	FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/25

31/8/24

value:

£

70

Ordinary shares

£1

70

15

Ordinary A Shares

£1

15

Ordinary B Shares

£1

15