REGISTERED NUMBER: 01408509 (England and Wales)

CORTEN-MILLER GARAGES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L Corten-Miller

Mr T Corten-Miller

Mr B Corten-Miller

REGISTERED OFFICE:

Eaudykes

Friskney

Boston

Lincolnshire

PE22 8NL

REGISTERED NUMBER:

01408509 (England and Wales)

ACCOUNTANTS:

Socius Accountants Limited

Excel House

Millbrook Lane

Wragby

Market Rasen

Lincolnshire

LN8 5AB

FIXED ASSETS

Tangible assets

3

152,763

145,253

CURRENT ASSETS

Stocks

455,909

336,858

Debtors

43,704

49,901

Cash at bank and in hand

206,835

154,545

706,448

541,304

CREDITORS

Amounts falling due within one year

336,931

304,509

NET CURRENT ASSETS

369,517

236,795

TOTAL ASSETS LESS CURRENT LIABILITIES

522,280

382,048

CREDITORS

Amounts falling due after more than one year

(35,022

)

(71,218

)

PROVISIONS FOR LIABILITIES

(22,490

)

(16,169

)

NET ASSETS

464,768

294,661

CAPITAL AND RESERVES

Called up share capital

5,002

5,002

Share premium

2,312

2,312

Retained earnings

457,454

287,347

464,768

294,661

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings 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:

Mrs L Corten-Miller - Director

1.	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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment

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

Freehold property

-

2.5% on reducing balance

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Inventories

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 11 ) .

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2025

407,496

Additions

39,592

Disposals

(15,300

)

At 31 December 2025

431,788

DEPRECIATION

At 1 January 2025

262,243

Charge for year

21,982

Eliminated on disposal

(5,200

)

At 31 December 2025

279,025

NET BOOK VALUE

At 31 December 2025

152,763

At 31 December 2024

145,253