Registration number: 10293411

Fords South West Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Fords South West Limited

Company Information

Directors

Mr R P Flynn Mr M R Fisher Mr N A Jones Mr D Salter Mr A J Patch

Registered office

Unit 3 Alexandria Industrial Estate Alexandria Road Sidmouth Devon EX10 9HA

Accountants

Thompson Jenner LLP 1 Colleton Crescent Exeter Devon EX2 4DG

Fords South West Limited

(Registration number: 10293411)
Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	33,321	66,641
Tangible assets	5	324,263	273,470
		357,584	340,111
Current assets
Stocks	6	96,786	106,101
Debtors	7	406,110	396,277
Cash at bank and in hand		160,364	196,053
		663,260	698,431
Creditors: Amounts falling due within one year	8	(455,631)	(515,545)
Net current assets		207,629	182,886
Total assets less current liabilities		565,213	522,997
Creditors: Amounts falling due after more than one year	8	(120,018)	(115,732)
Provisions for liabilities		(78,236)	(63,656)
Net assets		366,959	343,609
Capital and reserves
Called up share capital		500,001	500,001
Retained earnings		(133,042)	(156,392)
Shareholders' funds		366,959	343,609

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Fords South West Limited

(Registration number: 10293411)
Balance Sheet as at 30 September 2025

These financial statements have been 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 Profit and Loss Account.

Approved and authorised by the Board on 6 May 2026 and signed on its behalf by:
 

......................................... Mr M R Fisher Director

Fords South West 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 & Wales.

The address of its registered office is:
Unit 3 Alexandria Industrial Estate
Alexandria Road
Sidmouth
Devon
EX10 9HA
United Kingdom

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.

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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

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 sales/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.

Government grants

The Apprenticeship Incentive has been recognised under the accrual model and is credited to other income over the periods in which the compensated costs have been recognised.

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.

Fords South West Limited

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

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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet 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 down to their residual value, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	20 % straight line
Fixtures and fittings	20 % straight line
Computer equipment	20 % straight line
Motor vehicles	20 % straight line
Plant and tools	20 % straight line

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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 % straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Fords South West Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fords South West Limited

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

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 52 (2024 - 50).

Fords South West Limited

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

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 October 2024	333,203	333,203
At 30 September 2025	333,203	333,203
Amortisation
At 1 October 2024	266,562	266,562
Amortisation charge	33,320	33,320
At 30 September 2025	299,882	299,882
Carrying amount
At 30 September 2025	33,321	33,321
At 30 September 2024	66,641	66,641

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 October 2024	250,173	546,580	21,706	818,459
Additions	13,860	87,253	4,527	105,640
Disposals	(7,615)	(35,531)	(6,222)	(49,368)
At 30 September 2025	256,418	598,302	20,011	874,731
Depreciation
At 1 October 2024	209,455	321,833	13,701	544,989
Charge for the period	12,445	35,757	3,227	51,429
Eliminated on disposal	(7,386)	(32,342)	(6,222)	(45,950)
At 30 September 2025	214,514	325,248	10,706	550,468
Carrying amount
At 30 September 2025	41,904	273,054	9,305	324,263
At 30 September 2024	40,718	224,747	8,005	273,470

Assets upon which security is offered have a net book value at the balance sheet date of £111,853 (2024 - £87,646).

Fords South West Limited

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

6

Stocks

	2025 £	2024 £
Other stocks	96,786	106,101

7

Debtors

	2025 £	2024 £
Trade debtors	208,620	194,051
Other debtors	193,869	186,540
Prepayments and accrued income	3,621	15,686
Total current trade and other debtors	406,110	396,277

8

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	35,805	22,264
Trade creditors		245,780	215,948
Amounts owed to group undertakings and undertakings in which the company has a participating interest		-	32,395
Taxation and social security		114,246	174,720
Other creditors		24,794	28,219
Accrued expenses		35,006	41,999
		455,631	515,545