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Registered number: 11629213
Vernon Auto Repairs Ltd
Financial Statements
For The Year Ended 31 October 2025
The PHLT Group
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11629213
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,854 9,249
15,854 9,249
CURRENT ASSETS
Stocks 5 1,901 2,683
Debtors 6 17,799 3,493
Cash at bank and in hand 12,764 1,759
32,464 7,935
Creditors: Amounts Falling Due Within One Year 7 (77,931 ) (35,766 )
NET CURRENT ASSETS (LIABILITIES) (45,467 ) (27,831 )
TOTAL ASSETS LESS CURRENT LIABILITIES (29,613 ) (18,582 )
NET LIABILITIES (29,613 ) (18,582 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (29,713 ) (18,682 )
SHAREHOLDERS' FUNDS (29,613) (18,582)
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Page 2
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Phillip Frith
Director
18/06/2026
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Vernon Auto Repairs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11629213 . The registered office is Unit 13 Camsley Grange Farm, Stockport Road, Lymm, Cheshire, WA13 9BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25%
Motor Vehicles 25%
Computer Equipment 25%
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2024 9,400 10,325 866 20,591
Additions 8,672 3,976 - 12,648
Disposals - (1,200 ) - (1,200 )
As at 31 October 2025 18,072 13,101 866 32,039
...CONTINUED
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Depreciation
As at 1 November 2024 5,144 5,577 621 11,342
Provided during the period 3,263 2,044 61 5,368
Disposals - (525 ) - (525 )
As at 31 October 2025 8,407 7,096 682 16,185
Net Book Value
As at 31 October 2025 9,665 6,005 184 15,854
As at 1 November 2024 4,256 4,748 245 9,249
5. Stocks
2025 2024
£ £
Stock 1,901 2,683
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 2,729 3,493
Directors' loan accounts 15,070 -
17,799 3,493
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 20,200 15,805
Bank loans and overdrafts 30,023 8,017
Other taxes and social security 10,492 2,628
VAT 13,621 2,860
Other creditors 2,795 5,605
Accruals 800 800
Directors' loan accounts - 51
77,931 35,766
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2024 Amounts advanced Amounts repaid Amounts written off As at 31 October 2025
£ £ £ £ £
Mr Phillip Frith - - - - 15,070
The above loan is unsecured, interest free and repayable on demand.
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