Company registration number 07121706 (England and Wales)
CLIFF DICKENSON & SON (WINSFORD) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
CLIFF DICKENSON & SON (WINSFORD) LIMITED
COMPANY INFORMATION
Directors
Mr. H C D Winward
Mr. M Winward
Mrs. S Winward
Secretary
Mrs. S Winward
Company number
07121706
Registered office
Station Road Garage
Station Road
Winsford
Cheshire
CW7 3DQ
Auditor
Jack Ross Limited
Barnfield House
The Approach
Manchester
M3 7BX
CLIFF DICKENSON & SON (WINSFORD) LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 24
CLIFF DICKENSON & SON (WINSFORD) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
- 1 -

The directors present the strategic report for the year ended 31 March 2026.

Review of the business

The company continued to trade as a used vehicle retailer and Ford authorised repairer during the year. This was the company’s first full financial year without Ford Retail Dealer status and, as expected, the loss of new vehicle sales resulted in a significant reduction in turnover.

Despite this change, the directors consider that the company has continued to produce a strong financial performance, supported by the continued development of the used vehicle sales and aftersales departments. Turnover for the year decreased to £15.8m from £20.9m in the prior year, principally due to the reduction in new vehicle sales following the loss of Ford Retail Dealer status. Profit before tax was £595k compared with £787k in the prior year.

Principal risks and uncertainties

The principal risks and uncertainties facing the company continue to include changes in the retail motor industry, competition within the used vehicle market, availability and pricing of suitable vehicle stock, and the company’s continuing relationship with key suppliers and franchise partners.

The loss of Ford Retail Dealer status has removed the company’s ability to sell and advertise new Ford vehicles. The directors recognise that this has affected turnover and gross profit from new vehicle sales. However, the company has retained its Ford authorised repairer status and continues to focus on used vehicle sales, service, parts and commercial repair work to mitigate the impact of this change.

The directors also recognise the importance of maintaining appropriate stock levels and sourcing high-quality used vehicles. During the year the company identified a reliable source for purchasing nearly new Ford stock, which has proved popular with customers and has supported used vehicle profitability.

Development and performance

In the first full year following the loss of Ford Retail Dealer status, new vehicle sales reduced substantially. The directors estimate that this resulted in a reduction in turnover of approximately £5.8m and a reduction in gross profit from new vehicle sales of approximately £320k.

The company has partly mitigated this reduction through growth in its used vehicle and aftersales activities. Used vehicle turnover increased during the year, and service and parts turnover also increased, supported by the increased capacity from the new service centre.

The new service centre has enabled the company to increase workshop capacity, although improvement works remain ongoing. The directors expect the building works to be completed by the end of summer 2026, after which the company will aim to increase staffing levels and market the new service centre to local businesses in order to increase bookings and utilisation.

The company’s key performance indicators have remained resilient. Used Car Gross Profit averaged £1,295 per unit. After taking account of the valuation movement in March 2025, the directors consider this to represent an improved underlying gross profit per unit. The company also achieved a small increase in its average Service Gross Profit %, reflecting the productivity of the enlarged aftersales team.

Going into the new financial year, the directors intend to increase the company’s used vehicle stockholding in order to improve unit sales. The directors also intend to continue developing the new service centre, with a particular focus on increasing local business bookings and expanding the workforce at the site.

Overall, the financial year reflects a reduction in turnover following the withdrawal from new vehicle retail sales, but with profitability streams maintained through used vehicle sales and aftersales operations. The directors consider this to be a strong performance given the significant change experienced by the company and the wider retail motor industry.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -
Key performance indicators

The directors use the following financial KPIs to assess the performance of the business:

KPI | 2026 | 2025 | Variance
Used Car Gross Profit/unit | £1,295 | £1,328 | (2.5%)
Service Gross Profit % | 74.5% | 74% | 0.5%

On behalf of the board

Mr. H C D Winward
Director
10 July 2026
CLIFF DICKENSON & SON (WINSFORD) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -

The directors present their annual report and financial statements for the year ended 31 March 2026.

Principal activities

The principal activity of the company continued to be that of selling and servicing motor vehicles.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £200,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr. H C D Winward
Mr. M Winward
Mrs. S Winward
Auditor

In accordance with the company's articles, a resolution proposing that Jack Ross Limited be reappointed as auditors of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr. H C D Winward
Director
10 July 2026
CLIFF DICKENSON & SON (WINSFORD) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CLIFF DICKENSON & SON (WINSFORD) LIMITED
- 5 -
Opinion

We have audited the financial statements of Cliff Dickenson & Son (Winsford) Limited (the 'company') for the year ended 31 March 2026 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CLIFF DICKENSON & SON (WINSFORD) LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to tax legislation, employment legislation, health and safety legislation and other legislation specific to the industry in which the company operates. We have considered the extent to which non-compliance might have a material effect on the financial statements. We also have considered those law and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks related to management judgement of when to recognise income and expenditure and the effect this would have on profit.

Audit response to risks identified

- Enquiry of management and those charged with governance

- Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error as fraud may involve concealment.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CLIFF DICKENSON & SON (WINSFORD) LIMITED
- 7 -

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Talha Raja ACA (Senior Statutory Auditor)
For and on behalf of Jack Ross Limited
Statutory Auditor
Barnfield House
The Approach
Manchester
M3 7BX
10 July 2026
CLIFF DICKENSON & SON (WINSFORD) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
2026
2025
Notes
£
£
Turnover
2
15,821,909
20,939,677
Cost of sales
(14,389,300)
(19,228,947)
Gross profit
1,432,609
1,710,730
Administrative expenses
(1,095,248)
(1,072,526)
Other operating income
254,680
113,523
Operating profit
3
592,041
751,727
Interest receivable and similar income
6
107,177
76,979
Interest payable and similar expenses
7
(67,050)
(41,366)
Profit before taxation
632,168
787,340
Tax on profit
8
(279,346)
(156,868)
Profit for the financial year
352,822
630,472

The profit and loss account has been prepared on the basis that all operations are continuing operations.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 9 -
2026
2025
Notes
£
£
£
£
Fixed assets
Goodwill
10
1
1
Tangible assets
11
1,951,923
658,465
1,951,924
658,466
Current assets
Stocks
13
2,215,190
2,201,602
Debtors
14
447,084
714,226
Cash at bank and in hand
2,873,866
3,028,527
5,536,140
5,944,355
Creditors: amounts falling due within one year
15
(1,948,884)
(1,356,841)
Net current assets
3,587,256
4,587,514
Total assets less current liabilities
5,539,180
5,245,980
Creditors: amounts falling due after more than one year
16
(263,815)
(262,416)
Provisions for liabilities
(138,979)
-
0
Net assets
5,136,386
4,983,564
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
5,135,386
4,982,564
Total equity
5,136,386
4,983,564
The financial statements were approved by the board of directors and authorised for issue on 10 July 2026 and are signed on its behalf by:
Mr. H C D Winward
Director
Company Registration No. 07121706
CLIFF DICKENSON & SON (WINSFORD) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2024
1,000
4,352,092
4,353,092
Year ended 31 March 2025:
Profit and total comprehensive income
-
630,472
630,472
Balance at 31 March 2025
1,000
4,982,564
4,983,564
Year ended 31 March 2026:
Profit and total comprehensive income
-
352,822
352,822
Dividends
9
-
(200,000)
(200,000)
Balance at 31 March 2026
1,000
5,135,386
5,136,386
CLIFF DICKENSON & SON (WINSFORD) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
- 11 -
2026
2025
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
429,864
1,121,837
Interest paid
(67,050)
(41,366)
Income taxes paid
(173,694)
(90,039)
Net cash inflow from operating activities
189,120
990,432
Investing activities
Purchase of tangible fixed assets
(450,958)
(356,498)
Repayment of loans
-
0
(49,854)
Interest received
107,177
76,979
Net cash used in investing activities
(343,781)
(329,373)
Net (decrease)/increase in cash and cash equivalents
(154,661)
661,059
Cash and cash equivalents at beginning of year
3,028,527
2,367,468
Cash and cash equivalents at end of year
2,873,866
3,028,527
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 12 -
1
Accounting policies
Company information

Cliff Dickenson & Son (Winsford) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Station Road Garage, Station Road, Winsford, Cheshire, CW7 3DQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

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

1.3
Turnover

Turnover represents amounts invoiced, excluding value added tax, in respect of the sale of goods and services to customers.

1.4
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

1.5
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
39 years useful life
Leasehold property
4% straight line
Improvements to property
10% straight line
Plant and machinery
25% straight line
Fixtures, fittings & equipment
25% straight line
Computer equipment
33% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 13 -
1.7
Stocks

Stocks 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 the normal cost of transporting stock to its present location and condition.

Net realisable value is the anticipated sales proceeds less any costs of disposal.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 14 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 15 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable. The assets of the scheme are held separately from those of the company in an administered fund.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Turnover and other revenue

An analysis of the company's turnover is as follows:

2026
2025
£
£
Turnover analysed by class of business
New vehicles
657
5,800,113
Used vehicles
12,768,379
12,463,482
Service
1,906,156
1,491,556
Parts
1,146,717
1,184,526
15,821,909
20,939,677
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
2
Turnover and other revenue
(Continued)
- 16 -
2026
2025
£
£
Turnover analysed by geographical market
UK
15,821,909
20,939,677
2026
2025
£
£
Other revenue
Interest income
107,177
76,979
Commissions received
254,680
113,523
3
Operating profit
2026
2025
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
18,485
19,875
Depreciation of tangible fixed assets
200,088
89,586
Operating lease charges
99,506
102,841
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
33
31

Their aggregate remuneration comprised:

2026
2025
£
£
Wages and salaries
1,219,807
1,149,078
Social security costs
166,814
128,461
Pension costs
85,576
206,290
1,472,197
1,483,829
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 17 -
5
Directors' remuneration
2026
2025
£
£
Remuneration for qualifying services
145,579
141,906
Company pension contributions to defined contribution schemes
60,000
180,000
205,579
321,906
6
Interest receivable and similar income
2026
2025
£
£
Interest income
Interest on bank deposits
107,177
76,979
2026
2025
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
107,177
76,979
7
Interest payable and similar expenses
2026
2025
£
£
Interest on financial liabilities measured at amortised cost
Other interest on financial liabilities
67,050
41,366
8
Taxation
2026
2025
£
£
Current tax
UK corporation tax on profits for the current period
140,367
156,868
Deferred tax
Origination and reversal of timing differences
138,979
-
0
Total tax charge
279,346
156,868
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
8
Taxation
(Continued)
- 18 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2026
2025
£
£
Profit before taxation
632,168
787,340
Expected tax charge based on the standard rate of corporation tax in the UK of 25% (2025: 25%)
158,042
196,835
Effects of:
Expenses that are not deductible in determining taxable profit
213
200
Permanent capital allowances in excess of depreciation
(67,910)
(53,097)
Depreciation on assets not qualifying for tax allowances
50,022
12,930
Deferred tax
138,979
-
0
Taxation charge in the financial statements
279,346
156,868
9
Dividends
2026
2025
£
£
Final paid
100,000
-
0
Interim paid
100,000
-
0
200,000
-
10
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2025 and 31 March 2026
380,000
Amortisation and impairment
At 1 April 2025 and 31 March 2026
379,999
Carrying amount
At 31 March 2026
1
At 31 March 2025
1
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 19 -
11
Tangible fixed assets
Land and buildings Freehold
Leasehold property
Improvements to property
Assets under construction
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
£
£
£
Cost
At 1 April 2025
-
0
352,919
431,737
208,275
223,345
64,961
59,007
78,495
1,418,739
Additions
987,000
-
0
226,635
-
0
57,480
6,770
12,847
110,226
1,400,958
Transfers
-
0
-
0
85,106
(208,275)
123,169
-
0
-
0
92,588
92,588
At 31 March 2026
987,000
352,919
743,478
-
0
403,994
71,731
71,854
281,309
2,912,285
Depreciation and impairment
At 1 April 2025
-
0
118,794
308,294
-
0
158,360
58,592
55,939
60,295
760,274
Depreciation charged in the year
12,179
14,116
60,356
-
0
49,202
3,615
4,786
55,834
200,088
At 31 March 2026
12,179
132,910
368,650
-
0
207,562
62,207
60,725
116,129
960,362
Carrying amount
At 31 March 2026
974,821
220,009
374,828
-
0
196,432
9,524
11,129
165,180
1,951,923
At 31 March 2025
-
0
234,125
123,443
208,275
64,985
6,369
3,068
18,200
658,465
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 20 -
12
Financial instruments

The company’s financial instruments comprise cash at bank and in hand, trade debtors and creditors, amounts due to and from directors, and a loan from a trust. The company’s policy is not to trade in derivative financial instruments. The company has no significant exposure to foreign exchange, interest rate, or other price risks. The directors consider the company’s exposure to credit risk and liquidity risk to be immaterial.

13
Stocks
2026
2025
£
£
Raw materials and consumables
121,199
117,449
Finished goods and goods for resale
2,093,991
2,084,153
2,215,190
2,201,602
14
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
163,185
166,337
Other debtors
92,651
439,577
Prepayments and accrued income
191,248
108,312
447,084
714,226
15
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
451,449
598,662
Corporation tax
140,367
173,694
Other taxation and social security
179,939
185,981
Other creditors
1,114,993
339,180
Accruals and deferred income
62,136
59,324
1,948,884
1,356,841
16
Creditors: amounts falling due after more than one year
2026
2025
£
£
Other creditors
263,815
262,416
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 21 -
17
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company:

Liabilities
Liabilities
2026
2025
Balances:
£
£
Accelerated capital allowances
138,979
-
2026
Movements in the year:
£
Liability at 1 April 2025
-
Charge to profit or loss
138,979
Liability at 31 March 2026
138,979

The deferred tax liability recognised at 31 March 2026 arises principally from timing differences between the carrying value of tangible fixed assets and their tax written down value, following the capital allowances claimed by the company. Deferred tax had not previously been recognised as the amounts were not material; however, due to the level of capital expenditure and the resulting timing differences at 31 March 2026, a deferred tax liability has been recognised in the current year. Management has assessed the deferred tax position at the start of the year and concluded that any deferred tax liability not recognised in prior periods was not material to those financial statements.

18
Retirement benefit schemes
2026
2025
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
85,576
206,290

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

19
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2026
2025
£
£
Within one year
74,500
87,000
Between two and five years
180,167
254,667
254,667
341,667
CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 22 -
20
Capital commitments

There are no capital commitments or contingent liabilities at the balance sheet date.

21
Events after the reporting date

There have been no events since the balance sheet date that require disclosure in the financial statements.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 23 -
22
Related party transactions
Transactions with related parties

At the year end, there were no balances due from the directors of the company (2025: £330,100).

At the year end, balances due to the directors of the company amounted to £750,159 (2025: £287,923) and were included within other creditors. The loans are unsecured and repayable on demand. During the year, interest of £36,661 was credite d in respect of directors’ loan account balances.

At the year end, there was a balance due to a close family member of certain directors amounting to £301,999 (2025: £Nil), included within other creditors. The balance is unsecured and repayable on demand. During the year, interest of £9,995 was credited in respect of this balance.

During the year dividends totalling £200,000 (2025: £Nil) were paid to the directors of the company.

During the year rent of £25,002 (2025: £50,004) was paid to the directors of the company.

Also, during the year rent of £65,000 (2025: £52,833) was paid to a pension scheme of which directors are members.

During the year, the company purchased land and buildings from the directors for £950,000.

At the year end, there was a balance due to the K Dickenson Settlement Trust, of which Mr M Winward and Mrs S Winward, directors of the company, are beneficiaries, of £271,819 (2025: £270,420). The loan is unsecured and accrued interest of £20,394 during the year (2025: £22,339).

23
Ultimate controlling party

In the opinion of the directors, there is no ultimate controlling party.

CLIFF DICKENSON & SON (WINSFORD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 24 -
24
Cash generated from operations
2026
2025
£
£
Profit after taxation
352,822
630,472
Adjustments for:
Taxation charged
279,346
156,868
Finance costs
67,050
41,366
Investment income
(107,177)
(76,979)
Depreciation and impairment of tangible fixed assets
200,088
89,586
Movements in working capital:
Increase in stocks
(106,176)
(190,088)
Increase in debtors
(62,958)
(58,514)
(Decrease)/increase in creditors
(193,131)
529,126
Cash generated from operations
429,864
1,121,837

During the year, the company acquired property from Mr H C D Winward and Mrs S Winward for consideration of £950,000. The consideration was credited to the directors’ loan accounts and therefore did not result in an investing cash outflow.

Dividends of £200,000 were declared during the year and credited to the directors’ loan accounts. These dividends did not result in a cash outflow at the point of declaration.

25
Analysis of changes in net funds
1 April 2025
Cash flows
31 March 2026
£
£
£
Cash at bank and in hand
3,028,527
(154,661)
2,873,866
CLIFF DICKENSON & SON (WINSFORD) LIMITED
SCHEDULES TO THE PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2026
2026
2025
£
£
Cost of sales
Opening stock of finished goods
2,201,603
2,011,514
Purchases and other direct costs
Purchases
12,999,354
18,088,872
Direct costs
284,781
303,340
Wages and salaries
965,897
902,727
Social security costs
129,780
102,191
Staff pension costs defined contribution
23,075
21,906
Total purchases and other direct costs
14,402,887
19,419,036
Closing stock of finished goods
2,215,190
2,201,603
Total cost of sales
14,389,300
19,228,947
Administrative expenses
Wages and salaries
108,331
104,445
Social security costs
14,303
10,454
Staff pension costs
2,501
4,384
Directors' remuneration
145,579
141,906
Directors' social security costs
22,731
15,816
Directors' pension costs
60,000
180,000
Rent
99,506
102,841
Rates
30,196
32,136
Light and heat
29,931
32,878
Repairs and maintenance
70,020
47,319
Insurance
36,397
34,094
Computer running costs
37,047
32,002
Motor running expenses
17,494
20,213
Travelling expenses
407
200
Postage, courier and delivery charges
12,005
12,636
Professional subscriptions
2,519
2,145
Legal and professional fees
13,931
8,573
Audit fees
18,485
19,875
Charitable donations
250
500
Bank charges
28,123
25,229
Printing, postage and stationery
14,289
8,913
Advertising
58,628
61,707
Telecommunications
11,937
10,134
Sundry expenses
60,550
74,540
Depreciation
200,088
89,586
1,095,248
1,072,526
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