Premier Vauxhall Spares Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 8

Premier Vauxhall Spares Limited

(Registration number: 05902577)
Statement of Financial Position as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	367,192	376,272
Current assets
Stocks		145,660	143,315
Debtors	6	13,333	13,095
Cash at bank and in hand		143,371	503,499
		302,364	659,909
Creditors: Amounts falling due within one year	7	(466,160)	(514,604)
Net current (liabilities)/assets		(163,796)	145,305
Total assets less current liabilities		203,396	521,577
Provisions for liabilities		(34,093)	(37,760)
Net assets		169,303	483,817
Capital and reserves
Called up share capital		100	100
Profit and loss account		169,203	483,717
Shareholders' funds		169,303	483,817

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 22 May 2026 and signed on its behalf by:
 

J A Turner Director

Premier Vauxhall Spares Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is retail of motor vehicles and parts

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Premier Vauxhall Spares Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	2% straight line
Short leasehold property	10 Year straight line
Fitting fixtures and equipment	15% reducing balance
Motor vehicles	25% reducing balance
Computer equipment	25% straight line

Premier Vauxhall Spares Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

2	Accounting policies (continued)

Impairment

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

Premier Vauxhall Spares Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 7).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 October 2024	80,000	80,000
At 30 September 2025	80,000	80,000
Amortisation
At 1 October 2024	80,000	80,000
At 30 September 2025	80,000	80,000
Carrying amount
At 30 September 2025	-	-

Premier Vauxhall Spares Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

5	Tangible assets

	Freehold property £	Short leasehold property £	Fixtures, fittings and equipment £	Computer equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 October 2024	469,764	2,151	38,465	1,298	6,164	517,842
Additions	-	-	996	399	-	1,395
At 30 September 2025	469,764	2,151	39,461	1,697	6,164	519,237
Depreciation
At 1 October 2024	110,925	860	24,272	1,298	4,215	141,570
Charge for the year	7,395	215	2,279	99	487	10,475
At 30 September 2025	118,320	1,075	26,551	1,397	4,702	152,045
Carrying amount
At 30 September 2025	351,444	1,076	12,910	300	1,462	367,192
At 30 September 2024	358,839	1,291	14,193	-	1,949	376,272

Included within the net book value of land and buildings above is £351,444 (2024 - £358,839) in respect of freehold land and buildings and £1,076 (2024 - £1,291) in respect of short leasehold land and buildings.
 

6

Debtors

	2025 £	2024 £
Trade debtors	4,818	4,998
Prepayments	8,515	8,097
	13,333	13,095

Premier Vauxhall Spares Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Trade creditors		1,818	3,699
Amounts owed to group undertakings	10	408,273	444,828
Taxation and social security		51,981	62,507
Accruals and deferred income		4,088	3,570
		466,160	514,604

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	12,000	12,000
Later than one year and not later than five years	48,000	48,000
Later than five years	12,000	24,000
	72,000	84,000

The company has non cancellable lease commitments of £72,000 (2024: £84,000) in respect of the land at 20 Stonehouse Street.

Premier Vauxhall Spares Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

10	Related party transactions

Transactions with directors

During the year the directors entered into the following advances and credits with the company:

2025	At 1 October 2024 £	Advances to director £	Repayments by director £	At 30 September 2025 £
Directors	-	36,555	(36,555)	-

2024	At 1 October 2023 £	Advances to director £	Repayments by director £	At 30 September 2024 £
Directors	-	15,600	(15,600)	-

Director's loan are repayable on demand and subject to interest on overdrawn balances at the official rate.

Summary of transactions with parent

Premier Vauxhall Holdings Limited

Loans from related parties

2025	Parent £	Total £
At start of period	444,828	444,828
Advanced	390,000	390,000
Repaid	(426,555)	(426,555)
At end of period	408,273	408,273

2024	Parent £	Total £
At start of period	235,428	235,428
Advanced	395,000	395,000
Repaid	(185,600)	(185,600)
At end of period	444,828	444,828

11	Parent and ultimate parent undertaking

The company's immediate parent is Premier Vauxhall Holdings Ltd, incorporated in England & Wales.