C J H Montgomery01130 September 202525.0025.0013133011 October 2024010836292304This reserve includes all current and prior period retained profits and losses.32057931400289179289179341117378223218728147132122389231091218728147132218728147132678764464661728877828395121610886221631912238923109115457051477714564155426483294617411192716921054248314819720310629072324468888624866968835491418714556972585725977017236175020096222133842175405522790825556762983490531831932318544759386555792603268041844719709226221695751162834378113426342623195582744133612280517705451243817091986041155194117662193820452700205164788127962178384325282530137051370541412644604854815442049381320284518561288227011817752671537701368455468017917165035714771473819890323017015178519220229949976880911895143140015307614738461381530761477714972811517851477713454962734428316163982831610946179509146167179509146167Critical judgements in applying the Company's accounting policies In preparing these financial statements, the Directors have made the following judgements: Determining and reassessing the residual values and useful economic lives of tangible assets Recoverability of debtors Assessing indicators of impairment in the value of stockEnter details Enter details Enter details Enter details Enter details Enter details Enter detailsEquity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when a shareholders' written resolution is passed.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.Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.Where they relate to timing differences in respect of interests in subsidiaries, joint ventures and associated undertaking and the group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item recognised in other comprehensive income or directly in equity. In this case, the tax is recognised in other comprehensive income or directly in equity respectively.The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet and are depreciated over their useful lives. The capital elements of future obligations under the leases and hire purchase contracts are included as liabilities in the balance sheet. The interest elements of the rental obligations are charged in the profit and loss account over the years of the leases and hire purchase contracts and represent a constant proportion of the balance of capital repayments outstanding.Cash and cash equivalents include cash in hand, deposits with financial institutions repayable without penalty on notice of not more than 24 hours, other highly liquid investments that mature in no more than three months from the date of acquisition and bank overdrafts. Bank overdrafts, where applicable, are shown within 'Creditors: amounts due within one year'.Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out (FIFO) basis.Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.Subsequently, tangible fixed assets are measured using the cost model .Revenue from a contract to provide services is recognised in the period in which services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:the amount of revenue can be measured reliably;it is probable that the Company will receive the consideration due under the transaction;the stage of completion of the contract at the end of the reporting period can be measured reliably; andthe costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from the sale of goods is recognised when all of the following conditions are satisfied:the Company has transferred the significant risks and rewards of ownership to the buyer;the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;the amount of revenue can be measured reliably;it is probable that the Company will receive the consideration due under the transaction; andthe costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.The Company's functional and presentational currency is the Pound Sterling.The financial statements have been prepared under the historic cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (FRS 102) and the Companies Act 2006.The principal activity of the Company is the maintenance and repair of motor vehicles.1005334592533469260000060000060000060000058963858963858963810053449545345054608435391575391571005405797540589729 June 2026533469253450543205792891795873999578136540292803926890108169241039306214035511803341844719185447576880911895147575150011624219921652175872131165801158401013564927125056622263496620591054361998933309671629 June 2026BelfastGrant Thornton (NI) LLPLouise KellyIn response to these principal risks, our audit procedures included but were not limited to: enquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;inspection of the company’s regulatory and legal correspondence and review of minutes of the board of directors meetings during the year to corroborate inquiries made;gaining an understanding of the entity’s current activities, the scope of authorisation and the effectiveness of its control environment to mitigate risks related to fraud;discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;challenging assumptions and judgements made by management in their significant accounting estimates, including estimating useful lives of tangible fixed assets, carrying value of stock and useful lives of depreciable assets, estimating allowance for impairment of debtors ; andreview of the financial statement disclosures to underlying supporting documentation and inquiries of management. The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls. The objectives of an auditor 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 Auditors' report that includes their 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. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below: Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with Data Privacy law, Employment Law, Environmental Regulations, and Health and Safety laws, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and UK tax legislation. The Audit engagement partner considered the experience and expertise of the engagement team to ensure that the team had appropriate competence and capabilities to identify or recognise non-compliance with the laws and regulation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statement.As explained more fully in the Directors' responsibilities statement, management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 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, management is 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 management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Company's financial reporting process.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 by , or returns adequate for our audit have not been received from branches not visited by us; orthe Company financial statements are not in agreement with the accounting records and returns; orcertain disclosures of Directors' remuneration specified by law are not made; orwe have not received all the information and explanations we require for our audit.Other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' report thereon, including the Directors' report and the Strategic Report. The Directors are responsible for the other information. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 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 auditors' 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 United Kingdom, including the Financial Reporting Council'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.give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 30 September 2025 and of its financial performance for the year then ended; andhave been prepared in accordance with the requirements of the Companies Act 2006.We have audited the financial statements of Sapphire Vehicle Services Limited (the Company) for the year ended 30 September 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of 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).29 June 2026Each of the persons who are Directors at the time when this Directors' report is approved has confirmed that:so far as the Directors are aware, there is no relevant audit information of which the Company's auditors are unaware, andthe Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.Under Schedule 7.1A of "Large and Medium-Sized Companies and Groups (Accounts and Reports) Regulations 2008" the company has elected to disclose the following directors' report information in the strategic report: • Principal activities and business review• Principal risks and uncertainties• Financial key performance indicators• Going concern• Events after the balance sheetDirectors' responsibilities statementThe Directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;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.In dealing with applications for employment from the disabled or where individuals became disabled whilst in the company’s employment, every reasonable effort is made to provide opportunities for them, having regard to the ability of the individuals concerned, and to provide training and other appropriate facilities.H M J MontgomeryA Blair31-12-2024D Williams01-11-202431-05-2026R N P Hudson01-11-2024Carson McDowell LLPBank of IrelandSuite 6, Redhill Farm 97 Top StreetAppleby MagnaSwadlincoteDE12 7AH07216859J Darragh30 September 2025Report and Financial StatementsSapphire Vehicle ServicesFinancials UK FRS 1022026.7.0+87708539157589638 07216859 bus:Director2 2025-09-30 07216859 bus:Director1 2025-09-30 07216859 bus:Audited 2024-10-01 2025-09-30 07216859 bus:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 07216859 core:OwnedOrFreeholdAssets 2024-10-01 2025-09-30 07216859 core:RetainedEarningsAccumulatedLosses 2025-09-30 07216859 core:RetainedEarningsAccumulatedLosses 2024-09-30 07216859 bus:Agent1 2024-10-01 2025-09-30 07216859 core:OfficeEquipment 2025-09-30 07216859 core:MotorVehicles 2025-09-30 07216859 bus:Director2 2024-10-01 2025-09-30 07216859 core:PlantMachinery 2024-10-01 2025-09-30 07216859 core:RetainedEarningsAccumulatedLosses 2024-10-01 2025-09-30 07216859 core:ShareCapital 2024-09-30 07216859 core:RetainedEarningsAccumulatedLosses 2023-10-01 07216859 core:WithinOneYear 2024-09-30 07216859 bus:Director1 2024-10-01 2025-09-30 07216859 core:BetweenOneFiveYears 2024-09-30 07216859 core:ShareCapital 2025-09-30 07216859 core:PreviouslyStatedAmount 2024-09-30 07216859 bus:Director4 2024-10-01 2025-09-30 07216859 core:CurrentFinancialInstruments 2025-09-30 07216859 core:BetweenOneFiveYears 2025-09-30 07216859 1 2024-10-01 2025-09-30 07216859 bus:Director3 2024-10-01 2025-09-30 07216859 bus:RegisteredOffice 2024-10-01 2025-09-30 07216859 core:ShareCapital 2023-10-01 07216859 bus:FullAccounts 2024-10-01 2025-09-30 07216859 curr:PoundSterling 2024-10-01 2025-09-30 07216859 core:Non-currentFinancialInstruments 2024-09-30 07216859 bus:CompanySecretary1 2024-10-01 2025-09-30 07216859 core:OwnedOrFreeholdAssets core:OfficeEquipment 2024-10-01 2025-09-30 07216859 core:OfficeEquipment 2024-10-01 2025-09-30 07216859 core:MotorVehicles 2024-09-30 07216859 core:PlantMachinery 2024-09-30 07216859 core:OfficeEquipment 2024-09-30 07216859 bus:Director5 2025-09-30 07216859 2024-10-01 07216859 core:CurrentFinancialInstruments 2024-09-30 07216859 core:OwnedOrFreeholdAssets core:MotorVehicles 2024-10-01 2025-09-30 07216859 core:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 07216859 core:Non-currentFinancialInstruments 2025-09-30 07216859 bus:Director5 2024-10-01 2025-09-30 07216859 core:PlantMachinery 2025-09-30 07216859 core:WithinOneYear 2025-09-30 07216859 bus:FRS102 2024-10-01 2025-09-30 07216859 core:OwnedOrFreeholdAssets core:PlantMachinery 2024-10-01 2025-09-30 07216859 core:MotorVehicles 2024-10-01 2025-09-30 07216859 2024-09-30 07216859 2025-09-30 07216859 2023-10-01 2024-09-30 07216859 2024-10-01 2025-09-30 07216859 2023-10-01 xbrli:pure xbrli:pure iso4217:GBP iso4217:GBP

Registered number: 07216859

Sapphire Vehicle Services Limited

​​​​​

Report and Financial Statements

For The Year​ Ended 30 September 2025

Sapphire Vehicle Services

Company information2
Strategic report4
Directors' report7
Audit report10
Statement of comprehensive income16
Balance sheet17
Statement of changes in equity18
Notes to the financial statements19

Company information

Directors

A Blair (appointed 01-11-2024)
R N P Hudson (appointed 31-12-2024)
C J H Montgomery
H M J Montgomery
D Williams (appointed 01-11-2024, resigned 31-05-2026)

Company​​ secretary

J Darragh​

Registered number

07216859​

Registered office

Suite 6, Redhill Farm 97 Top Street
Appleby Magna
Swadlincote
DE12 7AH

​Independent auditors

Grant Thornton (NI) LLP 

Chartered Accountants & Statutory Auditors​​​
12-15 Donegall Square West​
Belfast​​
BT1 6JH​

Bankers

Bank of Ireland​
275 Antrim Road​​
Newtownabbey​​
BT36 7QN​
​

2

Company information

Solicitor

Carson McDowell LLP​
Murray House​
4 Murray Street ​​
Belfast​​
BT1 6DN​​

3

Sapphire Vehicle Services

Strategic report

For the year ended 30 September 2025

Introduction

The Directors present their Strategic report, Directors' report and financial statements for the year ended 30 September 2025.

Principal activity

The principal activity of the Company is the maintenance and repair of motor vehicles.

Business review

We aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year-end. Our review is consistent with the size and nature of the business and is written in the context of the risks and uncertainties we face. The company operates within the transport industry and sells its products and services through dealerships and sales representatives to customers throughout the UK. 

Principal risks and uncertainties

The vehicle maintenance sector remains competitive. The company seeks to maintain an advantage over its competitors by offering the highest level of quality and customer service.

Interest rate risk

The company has interest based assets and liabilities, both of which bear interest at variable rates. There is a small proportion of the long term borrowing that has been fixed. The appropriateness of this policy will be revisited should the company’s operations change materially.

4

Sapphire Vehicle Services

Strategic report

For the year ended 30 September 2025

Credit risk

The company has implemented the policy that we require credit checks to be performed on all potential customers before any sales are made. The amount of exposure to individual customers is monitored regularly by the company’s management team.

Events after the balance sheet

There have been no significant events affecting the Company since the year end.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Financial key performance indicators

We consider that our key performance indicators are turnover, gross margin, profit before taxation and growth in shareholders' funds.

Description
2025
£
2024
£
Turnover
36,199,893
33,096,716
Gross Margin (%)
37
38
Profit before tax
768,809
1,189,514
Equity Shareholders' Funds
5,334,692
5,345,054

The Directors are happy to report a sustained level of profit for the year. As with many businesses of our size, the business environment in which we operate continues to be challenging. The impact of strong competition and regulatory change presents us with challenges. With this in mind, we are aware that any plans for the future development of the business may be subject to unforeseen future events outside of our control.

5

Sapphire Vehicle Services

Strategic report

For the year ended 30 September 2025

The Board of Directors of the company, both individually and together, confirmed that they have acted in the way they consider, in good faith, would be most likely to promote success of the company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in Section 172(1) (a-f) of the Act) in the decisions taken during the year ended 30 September 2025. The following paragraphs summarise how the directors fulfil their duties: 

•As the board of directors, our intention is to behave responsibly and ensure that management operate the business in a responsible manner.
•As the board of directors, we are committed to openly engage with our shareholders. It is important to us that shareholders understand our strategy and objectives, so these must be clearly communicated, feedback heard and issues or questions raised properly considered. 
•As our services provided grow, our risk environment also becomes more complex. It is therefore, important that we effectively identify, evaluate, manage and mitigate the risks the company faces. For details of our principal risks and uncertainties, please see previous paragraphs of our company strategic report.
•Our employees are vital to the services provided by the company. We aim to be a responsible employer in our approach to the pay and benefits for our employees. For our business to succeed, we need to manage our employees performance and develop talent while ensuring the company operates as efficiently as possible. The health and safety of our employees is very important to us.
•In order to grow our business, we need to develop and maintain strong business relationships. We value all of our suppliers and customers.

Engagement with suppliers, customers and others

Our strategy prioritises growth, driven by continued expansion and bringing new customers into the company, and up-selling services to existing clients. To do this, we continue to develop and nurture strong customer relationships. We value all of our suppliers and have multi-year contracts in place with our key suppliers.

This report was approved by the board and signed on its behalf:

C J H Montgomery​​
Director​​​

29 June 2026 

6

Sapphire Vehicle Services

Directors' report

for the year ended 30 September 2025

The Directors present​​ their​ report and the financial statements for the year ended 30 September 2025.

Directors​​​​​

The Directors​ who served during the year:

A Blair (appointed 01-11-2024)

R N P Hudson (appointed 31-12-2024)

C J H Montgomery

H M J Montgomery

D Williams (appointed 01-11-2024, resigned 31-05-2026)

Results and dividends

The Profit for the year, after taxation, amounted to £589,638 (2024 Profit: £539,157). The Directors have recommended a dividend of £600,000 (2024: £600,000).

Future developments

For the future, the directors consider the business is well placed to take advantage of opportunities to develop further. As far as they are aware, there are no major external obstacles to this further development, other than the normal competitive pressures and general economic conditions in each of the Company’s markets. 

Events since the balance sheet​ date

There have been no significant events affecting the company since the year end. 

Disabled employees

In dealing with applications for employment from the disabled or where individuals became disabled whilst in the company’s employment, every reasonable effort is made to provide opportunities for them, having regard to the ability of the individuals concerned, and to provide training and other appropriate facilities. 

Engagement with employees

Meetings with employee representatives took place during the year to keep employees informed as to the performance of the company and plans for the future. Management was also aware of the views of employees through these regular meetings. 

7

Sapphire Vehicle Services

Directors' report

for the year ended 30 September 2025

Directors’ liability insurance

The company has indemnified the directors of the company against liability in respect of proceedings brought by third parties, subject to the conditions set out in the Companies Act 2006. Such qualifying third party indemnity provision was in force during the year and is in force at the date of approving the directors’ report.

Greenhouse gas emissions, energy consumption and energy efficiency action

The company is exempt from the requirement to present a Streamlined Energy and Carbon Reporting disclosure as consolidated disclosures, in which this entity is included, can be found in the financial statements of Ballyvesey Industries Limited, details of which can be found in the Directors' Report. 

Directors' responsibilities statement​

The Directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company​​'s financial statements and then apply them consistently;
•make judgements and accounting estimates that are reasonable and prudent;
•state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
•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.

8

Sapphire Vehicle Services

Directors' report

for the year ended 30 September 2025

Matters covered in the Strategic report

Under Schedule 7.1A of "Large and Medium-Sized Companies and Groups (Accounts and Reports) Regulations 2008" the company has elected to disclose the following directors' report information in the strategic report:

• Principal activities and business review

• Principal risks and uncertainties

• Financial key performance indicators

• Going concern

• Events after the balance sheet

Disclosure of information to auditors

Each of the persons who are Directors​​​ at the time when this Directors' report​​ is approved has confirmed that:

•so far as the Directors are​​​​​ aware, there is no relevant audit information of which the Company's auditors are unaware, and
•the Director​​​ has taken all the steps that ought to have been taken as a Director​ in order to be aware of any relevant audit information and to establish that the Company​'s auditors​​​​ are​​​ aware of that information.

Auditors

Grant Thornton (NI) LLP were appointed as auditors and have indicated their willingness to continue in office in accordance with section 485 of the Companies Act 2006, and a resolution that they will be reappointed will be proposed at the annual general meeting.

This report was approved by the board and signed on its behalf:

C J H Montgomery​​​​​​​
Director​​​

Date: 29 June 2026 

9

Sapphire Vehicle Services

Independent auditors' report to the shareholders of Sapphire Vehicle Services

Opinion

We have audited the financial statements of Sapphire Vehicle Services Limited​ (the Company)​​​ for the year ended 30 September 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of 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 in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 30 September 2025 and of its financial performance for the year then ended; 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 auditors'​​ 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 United Kingdom, including the Financial Reporting Council'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.

10

Sapphire Vehicle Services

Independent auditors' report to the shareholders of Sapphire Vehicle Services

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 Director with respect to going concern are described in the relevant sections of this report.

Other information

Other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' report thereon, including the Directors' report and the Strategic Report. The Directors are responsible for the other information. 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we​ identify such material inconsistencies or apparent material misstatements, we are​ required to determine whether there is a material misstatement in the ​​​​​​financial statements or a material misstatement of the other information. 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.

Opinion on other matters prescribed by the Companies Act 2006

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

•the information given in the ​​​Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
•the group ​Directors' Report have been prepared in accordance with applicable legal requirements.

11

Sapphire Vehicle Services

Independent auditors' report to the shareholders of Sapphire Vehicle Services

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 identified material misstatements in the Strategic report and the Directors' report.

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 by, or returns adequate for our audit have not been received from branches not visited by us; or
•the Company 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 management and those charged with governance for the financial statements

As explained more fully in the Directors' responsibilities statement, management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 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, management is 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 management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so. 

Those charged with governance are responsible for overseeing the Company's financial reporting process.

12

Sapphire Vehicle Services

Independent auditors' report to the shareholders of Sapphire Vehicle Services

Responsibilities of the auditor for the audit of the financial statements

The objectives of an auditor 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 Auditors' report that includes their 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.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

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

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with Data Privacy law, Employment Law, Environmental Regulations, and Health and Safety laws, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and UK tax legislation. The Audit engagement partner considered the experience and expertise of the engagement team to ensure that the team had appropriate competence and capabilities to identify or recognise non-compliance with the laws and regulation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statement.

13

Sapphire Vehicle Services

Independent auditors' report to the shareholders of Sapphire Vehicle Services

In response to these principal risks, our audit procedures included but were not limited to:

•enquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;
•inspection of the company’s regulatory and legal correspondence and review of minutes of the board of directors meetings during the year to corroborate inquiries made;
•gaining an understanding of the entity’s current activities, the scope of authorisation and the effectiveness of its control environment to mitigate risks related to fraud;
•discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;
•identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;
•designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;
•challenging assumptions and judgements made by management in their significant accounting estimates, including estimating useful lives of tangible fixed assets, carrying value of stock and useful lives of depreciable assets, estimating allowance for impairment of debtors ; and
•review of the financial statement disclosures to underlying supporting documentation and inquiries of management. 

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.

14

Sapphire Vehicle Services

Independent auditors' report to the shareholders of Sapphire Vehicle Services

The purpose of our audit work and to whom we owe our responsibilities

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.

Louise Kelly​ FCA (Senior Statutory Auditor)

For and on behalf of
Grant Thornton (NI) LLP ​

12-15 Donegall Square West

​Belfast

BT1 6JH

Date:29 June 2026​

15

Sapphire Vehicle Services

Statement of comprehensive income​
​for the year ended 30 September 2025

Note
2025
£
2024
£
Turnover
 4
36,199,893
33,096,716
Cost of sales
(22,634,966)
(20,591,054)
Gross Profit
13,564,927
12,505,662
Administrative expenses
(13,116,580)
(11,584,010)
Other operating income
175,872
-
Operating Profit
624,219
921,652
(Loss)/profit on the sale of fixed assets
(7,575)
150,011
Other interest receivable and similar income
179,509
146,167
Interest payable and similar expenses
(27,344)
(28,316)
Profit before tax
768,809
1,189,514
Tax on Profit
 10
(179,171)
(650,357)
Profit for the financial year
589,638
539,157

The notes on pages 19 to 33 form part of these financial statements.

The above results were derived from continuing operations.

There was no other comprehensive income for the year (2024: £Nil)

16

Sapphire Vehicle Services

Registered number: 07216859​

Balance sheet​

as at 30 September 2025

Note
2025
£
2024
£
Fixed assets
Tangible fixed assets
 11
1,844,719
1,854,475
 
1,844,719
1,854,475
Current assets
Stocks
 12
2,361,750
2,009,622
Debtors: amounts falling due within one year
 13
8,314,819
7,203,106
Cash at bank and in hand
140,355
1,180,334
 
10,816,924
10,393,062
Creditors: amounts falling due within one year
 14
(6,787,644)
(6,466,172)
Net current assets
4,029,280
3,926,890
Total assets less current liabilities
5,873,999
5,781,365
Creditors: amounts falling due after more than one year
 15
(218,728)
(147,132)
 
5,655,271
5,634,233
Provisions for liabilities
Deferred taxation
 17
(320,579)
(289,179)
Net assets
5,334,692
5,345,054
Capital and reserves
Called up share capital
 18
100
100
Profit and loss account
 19
5,334,592
5,344,954
Total capital and reserves
5,334,692
5,345,054

The financial statements were approved and authorised for issue by the board and were signed on its behalf:

C J H Montgomery
Director

Date: 29 June 2026 

The notes on pages 19 to 33 form part of these financial statements.

17

Sapphire Vehicle Services

Statement of changes in equity
For The Year​ Ended 30 September 2025​

Called up share capital
£
Profit and loss account
£
Total
£
At 1 October 2023 
100
5,405,797
5,405,897
Profit for the year
-
539,157
539,157
Dividends
-
(600,000)
(600,000)
At 1 October 2024
100
5,344,954
5,345,054
Profit for the year
-
589,638
589,638
Dividends declared and paid
-
(600,000)
(600,000)
At 30 September 2025
100
5,334,592
5,334,692

The notes on pages 19 to 33 form part of these financial statements.

18

Sapphire Vehicle Services

1. General information

Sapphire Vehicle Services is a private company limited by shares and is incorporated in England & Wales. The address of its registered office is Suite 6, Redhill Farm 97 Top Street​, Appleby Magna​, Swadlincote​, Derbyshire​, DE12 7AH.

The principal activity of the Company is the maintenance and repair of motor vehicles.

2. Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied consistently to all periods presented, unless otherwise stated.

a. Basis of preparation of financial statements

The financial statements have been prepared under the historic cost convention unless otherwise specified within these accounting policies and in accordance with ​Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's​ accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 3.

The Company's functional and presentational currency is the Pound Sterling.

b. Disclosure exemptions for qualifying entities under FRS 102

The Company has taken advantage of the following disclosure exemptions in preparing its ​​​​financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

•the requirements ofSection 7 Statement of Cash Flows and paragraph 3.17(d).
•the requirements of section 11 Basic Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b), 11.48(c), 12.26, 12.27, 12.29(a), 12.29(b) and 12.29Aas equivalent information is included in the consolidated financial statements of the group in which the Company is consolidated.
•the requirements of section 26 paragraphs 26.18(b), 26.19 to 26.21 and 26.23 as the Company is a subsidiary and the share-based payment arrangement concerns equity instruments of another group entity.​​​
•the requirement of section 33 Related Party Disclosures paragraph 33.7.

The information is included in the consolidated financial statements of Ballyvesey Industries Limited as at 30 September 2025 and these financial statements may be obtained from Carr Hill, Doncaster, England, DN4 8DE.

19

Sapphire Vehicle Services

2. Accounting policies continued
c. Revenue

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

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

•the Company has transferred the significant risks and rewards of ownership to the buyer;
•the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
•the amount of revenue can be measured reliably;
•it is probable that the Company will receive the consideration due under the transaction; and
•the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

•the amount of revenue can be measured reliably;
•it is probable that the Company​​​ will receive the consideration due under the transaction;
•the stage of completion of the contract at the end of the reporting period can be measured reliably; and
•the costs incurred or to be incurred in respect of the transaction can be measured reliably.

20

Sapphire Vehicle Services

2. Accounting policies continued
d. Tangible fixed assets

Tangible fixed assets are initially recognised at cost. Cost includes the purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Subsequently, tangible fixed assets are measured using the cost model. 

All tangible fixed assets are considered to have a finite useful life.

Depreciation is calculated to allocate the depreciable amount of tangible fixed assets to their residual values over their estimated useful lives on the following bases​:

Asset class
Depreciation method and rate
Plant and equipment
15% to 20% straight line
Motor Vehicles
25% straight line
Fixtures, fittings and equipment
10% to 20% straight line
Computer equipment
33% straight line
Office equipmnt
10% straight line 

If factors such as a change in how an asset is used, technological advancement, or changes in market prices indicate that the residual value or useful life of an asset has changed since the most recent balance sheet date, the Company reviews its previous estimates and, if current expectations differ, amends the residual value, amortisation method or useful life, accounting for this as a change in an accounting estimate.

Tangible fixed assets are derecognised on disposal, with the difference between the net disposal proceeds and the carrying amount recognised in profit or loss.

e. impairment of non-financial assets

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

f. Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out (FIFO)​​ basis. 

21

Sapphire Vehicle Services

2. Accounting policies continued
f. Stocks continued

At each balance sheet date, stocks are assessed for impairment. If an item of 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.

g. Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits with financial institutions repayable without penalty on notice of not more than 24 hours, other highly liquid investments that mature in no more than three months from the date of acquisition and bank overdrafts. Bank overdrafts, where applicable, are shown within 'Creditors: amounts due within one year'.

h. Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. 

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

i. Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. 

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

22

Sapphire Vehicle Services

2. Accounting policies continued
j. Leasing and hire purchase commitments

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. 

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet and are depreciated over their useful lives. The capital elements of future obligations under the leases and hire purchase contracts are included as liabilities in the balance sheet. 

The interest elements of the rental obligations are charged in the profit and loss account over the years of the leases and hire purchase contracts and represent a constant proportion of the balance of capital repayments outstanding.

k. Taxation

The tax expense for the year​ comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item recognised in other comprehensive income or directly in equity. In this case, the tax is recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company ​​operates​ ​and generates​​ income.

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

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

23

Sapphire Vehicle Services

2. Accounting policies continued
l. Pension costs

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. 

The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

m. Provisions

Provisions are recognised when the company has an obligation at the reporting date 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.

n. Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when a shareholders' written resolution is passed.

3. Judgements

Judgements in applying accounting policies and key sources of estimation uncertainty

Critical judgements in applying the Company's accounting policies

In preparing these financial statements, the Directors have made the following judgements:

•Determining and reassessing the residual values and useful economic lives of tangible assets 
•Recoverability of debtors 
•Assessing indicators of impairment in the value of stock

24

Sapphire Vehicle Services

3. Judgements continued

Key accounting estimates and assumptions

The Company​ makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, rarely equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Determining and reassessing the residual values and useful economic lives of tangible assets 

•The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and physical condition of the assets. 

Recoverability of debtors 

•Short term debtors are measured at transaction price, less any impairment. Estimates are made in respect to the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of debtors are considered. 

Assessing indicators of impairment 

•Stocks are stated at the lower of cost and net realisable value. Provision is made where necessary for obsolete, slow moving and defective stocks. 

25

Sapphire Vehicle Services

4. Turnover

The Directors​​ consider that disclosure of turnover analysed by class of business and by geographical market would be seriously prejudicial to the interests of the Company​.

5. Operating profit

Arrived at after charging:

2025
£
2024
£
Depreciation of owned assets
532,186
479,060
Depreciation of assets held on hire purchase and finance lease agreements
328,225
327,589
Gain/loss on disposal of property, plant and equipment
7,575
150,011
Operating lease expense - land & buildings
99,139
115,225
Auditors' remuneration - audit services
9,114
7,166
6. Employees

Staff costs, including Directors' remuneration, were as follows:

2025
£
2024
£
 
Wages and salaries
15,492,304
13,308,754
Social security costs
1,667,677
1,354,473
Pension costs, defined contribution scheme
388,656
749,185
17,548,637
15,412,412

The average monthly number of employees, including the Director, during the year was as follows:

2025 No.
2024 No.
Production
87
78
Administration and support
226
223
 
313
301

26

Sapphire Vehicle Services

7. Directors'

The directors' remuneration for their services to the company during the year was £Nil (2024: £Nil).

8. interest receivable and similar income
2025
£
2024
£
Interest income
(179,509)
(146,167)
9. Interest payable and similar expenses
2025
£
2024
£
Bank interest payable
10,946
-
Hire purchase and finance lease interest payable
16,398
28,316
 
27,344
28,316
10. Taxation
2025
£
2024
£
Corporation tax
UK Corporation tax on profits for the year
147,771
345,496
Adjustments in respect of previous periods
-
151,785
 
147,771
497,281
 
147,771
497,281
Total current tax
147,771
497,281
Deferred tax
Origination and reversal of timing differences
46,138
153,076
Deferred tax - adjustments in respect of previous periods
(14,738)
-
Total deferred tax
31,400
153,076
Tax on Profit
179,171
650,357

The tax on loss befor tax for the year is equal to the standard rate of corporation tax in the UK of 25% (2024- 25%). 

The differences are reconciled below:

Reconciliation of tax charge
2025
£
2024
£
Profit before tax
768,809
1,189,514

27

Sapphire Vehicle Services

10. Taxation continued
Reconciliation of tax charge
2025
£
2024
£
Profit multiplied by the standard rate of corporation tax in the UK of 25.00% (2024 - 25.00%)
192,202
299,499
Effects of:
Increase in UK and foreign current tax from adjustment for prior periods
-
151,785
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
230
170
Deferred tax (credit)/expense from unrecognised temporary difference from a prior period
(14,738)
198,903
Other timing differences
1,477
-
Total tax charge for the year
179,171
650,357

28

Sapphire Vehicle Services

11. Tangible fixed assets
Plant and machinery
£
Motor vehicles
£
Other tangible assets
£
Total
£
Cost
At 1 October 2024
1,181,775
2,671,537
701,368
4,554,680
Additions
493,813
202,845
185,612
882,270
Disposals
(41,412)
(64,460)
(48,548)
(154,420)
Transfers between classes
13,705
(13,705)
-
-
At 30 September 2025
1,647,881
2,796,217
838,432
5,282,530
Depreciation and impairment
At 1 October 2024
(551,941)
(1,766,219)
(382,045)
(2,700,205)
Charge for the year
(177,054)
(512,438)
(170,919)
(860,411)
Disposals
23,195
58,274
41,336
122,805
Transfers between classes
(3,426)
3,426
-
-
At 30 September 2025
(709,226)
(2,216,957)
(511,628)
(3,437,811)
Net book value
At 30 September 2025
938,655
579,260
326,804
1,844,719
At 30 September 2024
629,834
905,318
319,323
1,854,475

The net book value of assets includes £377,148 (2024: £579,546 ) in respect of assets held under finance lease or hire purchase. The depreciation charge in respect of such assets amounted to £328,225 (2024: £327,589) for the year.

12. Stocks
2025
£
2024
£
Other stocks
227,908
255,567
Parts and accessories
2,133,842
1,754,055
 
2,361,750
2,009,622

The replacement cost of stocks does not differ materially from the balance sheet amount. 

29

Sapphire Vehicle Services

13. Debtors
2025
£
2024
£
Due within one year
Debtors
7,258,572
5,977,017
Amounts owed by group undertakings
141,871
45,569
Other debtors
669,688
3,549
Prepayments and accrued income
244,688
886,248
Group relief receivable
-
290,723
 
8,314,819
7,203,106

Amounts due from group undertakings are unsecured, interest free and payable on demand.

14. Creditors
2025
£
2024
£
Trade creditors
1,927,169
2,105,424
Amounts owed to group undertakings
3,294
617,411
Amounts owed to related parties
542,648
-
Corporation tax
147,771
456,415
Other taxation and social security
1,545,705
-
Obligations under finance lease and hire purchase contracts
122,389
231,091
Other creditors
1,610,886
2,216,319
Accruals and deferred income
887,782
839,512
 
6,787,644
6,466,172

Amounts due under hire purchase and finance lease agreements are secured against the assets to which they relate.

Amounts owed to group undertakings are unsecured, interest free and payable on demand. Trade and other creditors are payable at various dates in the coming months in line with standard creditor payment terms. Corporation and other taxes are due at various dates in line with the statutory compliance deadlines.

15. Creditors
2025
£
2024
£
Obligations under finance lease and hire purchase contracts
218,728
147,132

30

Sapphire Vehicle Services

16. Obligations under finance leases and hire purchase contracts

The maturity of these amounts is as follows:

2025
£
2024
£
Within one year
122,389
231,091
In two to five years 
218,728
147,132
 
341,117
378,223
17. Deferred taxation
2025
£
At 1 October 2024 
289,179
Charged to profit or loss
31,400
At 30 September 2025
320,579

The deferred tax balance is made up as follows:

2025
£
2024
£
Short term timing differences
(160)
(14,054)
Accelerated capital allowances
320,739
150,157
 
320,579
136,103

31

Sapphire Vehicle Services

18. Share capital

Authorised

2025
£
2024
£
Ordinary shares
of £1 each
100
100

Allotted, called up and fully paid shares

2025 Number
2025
£
2024 Number
2024
£
Ordinary shares
of £1 each
100
100
100
100

Each ordinary share holds one voting right.

19. Reserves

Called up share capital

This reserve represents the nominal value of shares that have been issued.

Profit and loss account

This reserve includes all current and prior period retained profits and losses.

20. Other financial commitments

At 30 September 2025, the Company had future minimum commitments under non-cancellable operating leases as set out below:

Land & buildings
2025
£
2024
£
Within one year
158,772
92,304
In two or five years
218,728
108,362
At 30 September 2025
377,500
200,666

32

Sapphire Vehicle Services

21. Related party transactions

Sapphire Vehicle Services Limited is a 100% subsidiary of Ballyvesey Holdings Limited. The company has taken advantage of the exemption given in FRS 102 section 33. This exemption permits non-disclosure of related party transactions of a wholly owned subsidiary company within the Ballyvesey Industries Limited Group.

22. Parent undertaking and ultimate controlling party

The company's immediate parent is Ballyvesey Holdings Limited, incorporated in England.

The most senior parent entity producing publicly available financial statements is Ballyvesey Industries Limited. These financial statements are available upon request from Carr Hill, Doncaster, DN4 8DE.

The ultimate controlling parties are the Members of the Montgomery Family Trusts.

33