REGISTERED NUMBER: 06984595 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 OCTOBER 2024 TO 31 DECEMBER 2025

FOR

K & R VEHICLE SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K J Humphries

I J Pugh

REGISTERED OFFICE:

10 Festival Trade Park

Wymans Lane

Cheltenham

Gloucester

GL51 9FS

REGISTERED NUMBER:

06984595 (England and Wales)

AUDITORS:

Magma Audit LLP (part of the Dains Group)

Chartered Accountants

Statutory Auditor

Unit 2, Charnwood Edge Business Park

Syston Road

Leicestershire

LE7 4UZ

FIXED ASSETS

Tangible assets

4

292,424

326,572

CURRENT ASSETS

Stocks

5

62,033

61,944

Debtors

6

247,032

344,734

Cash at bank

51,278

74,231

360,343

480,909

CREDITORS

Amounts falling due within one year

7

(531,545

)

(790,601

)

NET CURRENT LIABILITIES

(171,202

)

(309,692

)

TOTAL ASSETS LESS CURRENT LIABILITIES

121,222

16,880

CREDITORS

Amounts falling due after more than one year

8

(6,098

)

(77,859

)

NET ASSETS/(LIABILITIES)

115,124

(60,979

)

CAPITAL AND RESERVES

Called up share capital

800

800

Share premium

109,280

109,280

Retained earnings

5,044

(171,059

)

115,124

(60,979

)

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 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 12 June 2026 and were signed on its behalf by:

I J Pugh - Director

1.	STATUTORY INFORMATION

K & R Vehicle Solutions Limited is a private limited company, limited by shares, incorporated in England and Wales. Its registered office address is 10 Festival Trade Park, Wymans Lane, Cheltenham, Gloucester, GL51 9FS and the registered number is 06984595.

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.

The financial year end of the company was changed from 30 September to 31 December so as to be coterminous with the year end of other companies within the AGC UK Group. The current period therefore covers 15 months, and comparative figures are not directly comparable.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

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

Revenue from parts supplied is recognised when the significant risks and rewards of ownership pass to the customer, typically upon completion of the repair.

Revenue from repair services is recognised based on the stage of completion at the reporting date, measured by the proportion of costs incurred to total estimated costs. Where the outcome cannot be reliably estimated, revenue is recognised only to the extent of recoverable costs.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and impairment losses.

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

Improvements to property

Over 17 years straight line

Plant and machinery

6% and 33% straight line

Fixtures and fittings

33% straight line

Motor vehicles

33% straight line

Computer equipment

33% straight line

The gain or loss that arises from the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset which is then charged or credited to the profit or loss.

Stocks and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Finance leases

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included within creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 28 (2024 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 October 2024

29,462

436,614

13,104

Additions

4,022

6,993

-

Disposals

-

(33,000

)

-

At 31 December 2025

33,484

410,607

13,104

DEPRECIATION

At 1 October 2024

3,665

139,129

12,698

Charge for period

3,745

47,980

406

Eliminated on disposal

-

(27,146

)

-

At 31 December 2025

7,410

159,963

13,104

NET BOOK VALUE

At 31 December 2025

26,074

250,644

-

At 30 September 2024

25,797

297,485

406

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2024

37,632

7,316

524,128

Additions

12,942

1,981

25,938

Disposals

-

-

(33,000

)

At 31 December 2025

50,574

9,297

517,066

DEPRECIATION

At 1 October 2024

36,844

5,220

197,556

Charge for period

1,219

882

54,232

Eliminated on disposal

-

-

(27,146

)

At 31 December 2025

38,063

6,102

224,642

NET BOOK VALUE

At 31 December 2025

12,511

3,195

292,424

At 30 September 2024

788

2,096

326,572

5.

STOCKS

2025

2024

£

£

Stocks

15,440

28,828

Work-in-progress

46,593

33,116

62,033

61,944

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

132,922

243,566

Other debtors

85,000

85,000

Prepayments and accrued income

29,110

16,168

247,032

344,734

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

4,412

17,349

Paint loans

-

14,848

Finance leases

17,729

34,505

Trade creditors

67,040

75,840

Amounts owed to group undertakings

109,128

203,373

Amounts owed to associates

153,127

192,994

Social security and other taxes

23,551

19,356

VAT

58,902

50,395

Other creditors

33,638

82,172

Directors' loan accounts

377

377

Accruals and deferred income

63,641

99,392

531,545

790,601

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Finance leases

6,098

32,859

Other creditors

-

45,000

6,098

77,859

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Finance leases

23,827

67,364

The finance leases are secured on the assets concerned.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Luke Turner FCA FCCA (Senior Statutory Auditor)

for and on behalf of Magma Audit LLP (part of the Dains Group)