REGISTERED NUMBER: 07778480 (England and Wales)

Financial Statements for the Year Ended 31 August 2025

for

VAG Autoworks Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M J Herring

I A Herring

REGISTERED OFFICE:

4 Reading Road

Pangbourne

Berkshire

RG8 7LY

REGISTERED NUMBER:

07778480 (England and Wales)

ACCOUNTANTS:

Geoffrey Cole & Co

4 Reading Road

Pangbourne

Reading

Berkshire

RG8 7LY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

97,531

121,015

97,531

121,015

CURRENT ASSETS

Stocks

9,147

8,656

Debtors

6

39,539

63,463

Cash at bank

82,069

62,896

130,755

135,015

CREDITORS

Amounts falling due within one year

7

109,536

110,975

NET CURRENT ASSETS

21,219

24,040

TOTAL ASSETS LESS CURRENT LIABILITIES

118,750

145,055

CREDITORS

Amounts falling due after more than one year

8

(5,000

)

(15,000

)

PROVISIONS FOR LIABILITIES

(14,795

)

(21,640

)

NET ASSETS

98,955

108,415

CAPITAL AND RESERVES

Called up share capital

380

380

Share premium

19,962

19,962

Retained earnings

78,613

88,073

SHAREHOLDERS' FUNDS

98,955

108,415

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 21 May 2026 and were signed on its behalf by:

I A Herring - Director

1.	STATUTORY INFORMATION

VAG Autoworks Ltd 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.

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.

Turnover

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

Goodwill

Goodwill being the amount paid in connection with the acquisition of former businesses, is amortised in equal instalments over 10 years, being the directors' estimate of its useful economic life.

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.

Tangible fixed assets

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

Improvements to property

-

Over life of lease

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost and 20% on cost

Computer equipment

-

25% on cost

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 statement of financial position date.

The company as at 31 August 2025 had taxable losses to carry forward of £40,309.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

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 9 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2024

and 31 August 2025

129,457

AMORTISATION

At 1 September 2024

and 31 August 2025

129,457

NET BOOK VALUE

At 31 August 2025

-

At 31 August 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2024

237,478

Additions

14,014

Disposals

(2,800

)

At 31 August 2025

248,692

DEPRECIATION

At 1 September 2024

116,463

Charge for year

37,498

Eliminated on disposal

(2,800

)

At 31 August 2025

151,161

NET BOOK VALUE

At 31 August 2025

97,531

At 31 August 2024

121,015

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

23,809

44,787

Other debtors

15,730

18,676

39,539

63,463

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

26,221

24,407

Taxation and social security

18,423

21,173

Other creditors

54,892

55,395

109,536

110,975

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

5,000

15,000

9.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

65,330

65,330

Between one and five years

256,077

257,507

In more than five years

212,325

276,225

533,732

599,062

Joint and several personal guarantee have been given by I A Herring and M J Herring concerning the full lease term of the premises at 113A Kidmore Road, Caversham.