Channel Motors Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01592477

Channel Motors Limited

Filleted Unaudited Financial Statements

31 March 2026

Channel Motors Limited

Statement of Financial Position

31 March 2026

	2026	2025
Note	£	£

Fixed assets

Tangible assets	5	2,283	1,691
Investments	6	325,000	270,000
		---------	---------
		327,283	271,691

Current assets

Cash at bank and in hand	71,914	36,512

Creditors: amounts falling due within one year	7	116,716	114,793
		---------	---------
Net current liabilities		44,802	78,281
		---------	---------
Total assets less current liabilities		282,481	193,410
		---------	---------
Net assets		282,481	193,410
		---------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	281,481	192,410
	---------	---------
Shareholders funds	282,481	193,410
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Channel Motors Limited

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 2 July 2026 , and are signed on behalf of the board by:

Ms A Baskeyfield
Director

Company registration number: 01592477

Channel Motors Limited

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Talwrn Lodge Farm, Higher Kinnerton, Chester, CH4 9BP, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	15% reducing balance

Investments

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Financial instruments

The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an an impairment loss is recognised in the statement of Income and Retained Earnings.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2025: 1 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 April 2025	13,281
Additions	995
	--------
At 31 March 2026	14,276
	--------
Depreciation
At 1 April 2025	11,590
Charge for the year	403
	--------
At 31 March 2026	11,993
	--------
Carrying amount
At 31 March 2026	2,283
	--------
At 31 March 2025	1,691
	--------

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2025	270,000
Revaluations	55,000
	---------
At 31 March 2026	325,000
	---------
Impairment
At 1 April 2025 and 31 March 2026	–
	---------

Carrying amount
At 31 March 2026	325,000
	---------
At 31 March 2025	270,000
	---------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Other creditors	116,716	114,793
	---------	---------

8. Director's advances, credits and guarantees

The director operated a loan account with the company during the year. The opening balance was £113,852 (2025 £113,540) with movement in the year of £1,885 and a closing balance as £115,737 owed to the director at the year-end (2025 £113,852). The loan is interest free and repayable upon demand.