Company No: 03731548 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	469,058		545,045
		469,058		545,045
Current assets
Stocks		395,241		254,176
Debtors	4	28,303		27,933
Cash at bank and in hand		163		341
		423,707		282,450
Creditors: amounts falling due within one year	5	( 439,685)		( 252,978)
Net current (liabilities)/assets		(15,978)		29,472
Total assets less current liabilities		453,080		574,517
Creditors: amounts falling due after more than one year	6	( 43,695)		( 46,390)
Provision for liabilities		( 42,637)		( 44,281)
Net assets		366,748		483,846
Capital and reserves
Called-up share capital	7	10,000		10,000
Revaluation reserve		24,746		25,415
Profit and loss account		332,002		448,431
Total shareholder's funds		366,748		483,846

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Specialist Vehicles of Plymouth Limited (registered number: 03731548) were approved and authorised for issue by the Board of Directors on 07 July 2026. They were signed on its behalf by:

Mr T Orr Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Specialist Vehicles of Plymouth Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 6-7 Alder Court Bell Close, Plympton, Plymouth, PL7 4JH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings	not depreciated
	10 - 50 years straight line
Plant and machinery	5 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	33 % reducing balance
Office equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		11

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2025	581,072		57,031		95,874		38,788		15,198		787,963
Additions	0		4,000		87,990		1,000		7,481		100,471
Disposals	0		0		( 150,656)		0		0		( 150,656)
At 31 December 2025	581,072		61,031		33,208		39,788		22,679		737,778
Accumulated depreciation
At 01 January 2025	139,327		52,304		17,062		27,496		6,729		242,918
Charge for the financial year	20,469		2,441		14,721		3,754		3,686		45,071
Disposals	0		0		( 19,269)		0		0		( 19,269)
At 31 December 2025	159,796		54,745		12,514		31,250		10,415		268,720
Net book value
At 31 December 2025	421,276		6,286		20,694		8,538		12,264		469,058
At 31 December 2024	441,745		4,727		78,812		11,292		8,469		545,045

The fair value of the company's land and buildings was revalued on 24 November 2011 by an independent valuer. The valuation was on an open market basis. The name and qualification of the independent valuer are Vickery Holman Limited - RICS. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £396,639 (2024 - £425,087).

4. Debtors

	2025		2024
	£		£
Trade debtors	11,995		18,953
Corporation tax	5,879		0
Other debtors	10,429		8,980
	28,303		27,933

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts (secured)	25,209		56,091
Trade creditors	56,496		39,805
Amounts owed to Group undertakings	150,000		0
Taxation and social security	17,353		39,816
Obligations under finance leases and hire purchase contracts (secured £10,446)	10,466		10,612
Other creditors	180,161		106,654
	439,685		252,978

The bank overdraft is secured by fixed and floating charges inclusive of a negative pledge, held over all property and undertaking of the company.

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts (secured)	43,695		46,390

The finance leases above are secured against the assets to which they relate.

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
9,200 Ordinary A shares of £ 1.00 each	9,200		9,200
800 Ordinary B shares of £ 1.00 each	800		800
	10,000		10,000

8. Ultimate controlling party

Parent Company:

CEO Group Limited

118-130 Ridgeway, Plympton, Plymouth, Devon, PL7 2HN