Plymouth Car Recoveries Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Plymouth Car Recoveries Limited

(Registration number: 04588436)
Statement of Financial Position as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	4	1	1
Tangible assets	5	330,115	347,746
		330,116	347,747
Current assets
Stocks	6	2,000	2,000
Debtors	7	109,340	106,110
Cash at bank and in hand		327,997	247,446
		439,337	355,556
Creditors: Amounts falling due within one year	8	(80,948)	(85,199)
Net current assets		358,389	270,357
Total assets less current liabilities		688,505	618,104
Provisions for liabilities		(81,518)	(40,788)
Net assets		606,987	577,316
Capital and reserves
Called up share capital		1,010	1,010
Profit and loss account		605,977	576,306
Shareholders' funds		606,987	577,316

Plymouth Car Recoveries Limited

(Registration number: 04588436)
Statement of Financial Position as at 31 March 2026 (continued)

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 29 July 2026 and signed on its behalf by:
 

P Hilborne Director

Plymouth Car Recoveries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of the recovery of motor vehicles from roadside locations.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Plymouth Car Recoveries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

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

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Improvements to property	Not depreciated
Plant and machinery	15% reducing balance

Plymouth Car Recoveries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Computer equipment	15% reducing balance
Fixtures and fittings	15% reducing balance
Motor vehicles	20% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Plymouth Car Recoveries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2025 - 12).

Plymouth Car Recoveries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2025	81,904	81,904
At 31 March 2026	81,904	81,904
Amortisation
At 1 April 2025	81,903	81,903
At 31 March 2026	81,903	81,903
Carrying amount
At 31 March 2026	1	1
At 31 March 2025	1	1

5	Tangible assets

	Short leasehold land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	4,043	22,747	52,629	10,071	561,413	650,903
Additions	-	11,016	-	350	43,000	54,366
At 31 March 2026	4,043	33,763	52,629	10,421	604,413	705,269
Depreciation
At 1 April 2025	-	15,680	23,131	7,040	257,306	303,157
Charge for the year	-	1,958	4,425	491	65,123	71,997
At 31 March 2026	-	17,638	27,556	7,531	322,429	375,154
Carrying amount
At 31 March 2026	4,043	16,125	25,073	2,890	281,984	330,115
At 31 March 2025	4,043	7,067	29,498	3,031	304,107	347,746

Included within the net book value of land and buildings above is £4,043 (2025 - £4,043) in respect of short leasehold land and buildings.
 

Plymouth Car Recoveries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

6

Stocks

	2026 £	2025 £
Finished goods and goods for resale	2,000	2,000

7

Debtors

	2026 £	2025 £
Trade debtors	101,207	96,682
Other debtors	8,133	9,428
	109,340	106,110

8

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Trade creditors	-	4,134
Taxation and social security	69,246	-
Accruals and deferred income	8,364	6,064
Other creditors	3,338	75,001
	80,948	85,199

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Plymouth Car Recoveries Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

10	Related party transactions

Transactions with directors

During the year the directors entered into the following advances and credits with the company:

2026	At 1 April 2025 £	Advances to director £	Repayments by director £	At 31 March 2026 £
Directors	(4,358)	11,209	(3,880)	2,971

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Directors	6,404	55,482	(66,244)	(4,358)

Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.