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Registered number: 06840771
Taw Garage (Holdings) Limited
Strategic Report, Directors' Report and
Financial Statements
For the Period 1 April 2024 to 30 September 2025
Taw Garage (Holdings) Limited
Contents
Contents

| Page
--- | ---
Strategic Report | 1
Directors' Report | 2—3
Independent Auditor's Report | 4—7
Statement of Income and Retained Earnings | 8
Balance Sheet | 9
Notes to the Financial Statements | 10—16

Page 1
Taw Garage (Holdings) Limited
Strategic Report
For the Period 1 April 2024 to 30 September 2025
Strategic Report
The directors present their strategic report for the period ended 30 September 2025.
Review of the Business
The company continued to operate as a holding and property investment company during the period. Its principal activities remained the holding of its investment in Taw Garages Limited and the ownership of property from which rental income is derived.
During the period, the wider group underwent a demerger and reorganisation resulting in the company becoming part of a separate group headed by Brend Garages Limited. The directors believe that the demerger provides a clear ownership structure and allows management to focus on the long-term development of the business and its assets.
The relationship between the company and its subsidiary, Taw Garages Limited, remained unchanged throughout the period, with the company continuing to receive rental income from the property occupied by the subsidiary.
Financial Key Performance Indicators
Due to the non-complex nature of the company's activities as a holding and property investment company, the directors do not consider the use of key performance indicators to be necessary for an understanding of the development, performance or position of the company.
The performance of the company's principal trading subsidiary, Taw Garages Limited, is monitored by the directors and is considered the key driver of the company's results and financial position. The KPIs of the principal trading subsidiary, Taw Garages Limited, are set out in the financial statements of Taw Garages Limited.
Principal Risks and Uncertainties
As a holding and property investment company, the principal risks and uncertainties facing the company relate to the performance and financial stability of its trading subsidiary, Taw Garages Limited, and the subsidiary's ability to meet its obligations, including the payment of rental charges to the company.
During the period, Taw Garages Limited continued to operate in a challenging motor retail environment. In addition, the subsidiary ceased operating as an authorised Ford dealer following the termination of its Ford franchise. The business has continued to adapt to these changes by focusing on its used vehicle, servicing, parts and fuel operations, together with other revenue streams available to the business.
The directors have reviewed forecasts and cash flow projections prepared by the subsidiary and have considered the expected trading performance for the foreseeable future. Based on this review, the directors remain satisfied that Taw Garages Limited will continue to generate sufficient funds to meet its obligations as they fall due, including the payment of rental charges to the company.
Accordingly, the directors are confident that the company will continue to receive rental income from its subsidiary and that the carrying value of its investment and property assets remains supportable.
On behalf of the board

Mr M R Brend Director | Mr R P Brend Director
3 August 2026

Page 1
Page 2
Taw Garage (Holdings) Limited
Company No. 06840771
Directors' Report For the Period 1 April 2024 to 30 September 2025
Directors' Report
The directors present their report and the financial statements for the period ended 30 September 2025.
Principal Activity
The company's principal activity continues to be that of a holding company to Taw Garages Limited. The principal activity of Taw Garages Limited is that of a car dealership.
Directors
The directors who held office during the period were as follows:

Mr M R Brend
Mr R P Brend | Appointed | 10/06/2025
Mr J E Brend | Resigned | 10/06/2025
Mr J J Brend | Resigned | 10/06/2025
Mr M J Brend | Resigned | 10/06/2025

Statement of Directors' Responsibilities
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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:

- so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
- they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Page 2
Page 3
Taw Garage (Holdings) Limited
Directors' Report (continued)
For the Period 1 April 2024 to 30 September 2025
Independent Auditors
The auditors, Sumer Auditco Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board

Mr M R Brend Director | Mr R P Brend Director
3 August 2026

Page 3
Page 4
Independent Auditor's Report
to the Members of
Taw Garage (Holdings) Limited
Independent Auditor's Report
Opinion
We have audited the financial statements of Taw Garage (Holdings) Limited for the period ended 30 September 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit/(loss) for the period 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 entity's ability to continue as a going concern for a period of at least 12 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. 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 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 the audit:

- the information given in the Strategic Report and Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Page 4
Page 5
Independent Auditor's Report (continued)
to the Members of
Taw Garage (Holdings) Limited
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 or 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, 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 or 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' Responsibilities Statement set out on page 2—3, 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.
Page 5
Page 6
Independent Auditor's Report (continued)
to the Members of
Taw Garage (Holdings) Limited
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:
As part of our audit planning, through discussions with management, we obtained an understanding of the legal and regulatory framework applicable to the company and the sector in which it operates to identify the key laws and regulations affecting the company. Given the company’s nature as a holding entity with a single income stream derived from rental income charged to its subsidiary, the key laws and regulations identified include the Companies Act 2006, the applicable financial reporting framework (FRS 102), and UK tax legislation.
We discussed with management how compliance with these requirements is monitored and the policies and procedures in place. We also identified the individuals responsible for ensuring compliance and for reporting any issues arising. As part of our planning procedures, we assessed the risk of non-compliance with laws and regulations on the company’s ability to continue trading and the risk of material misstatement in the financial statements.
Based on this understanding, we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved the following:

- Enquiries of management and those charged with governance regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements;

- Inspection of the intercompany rental agreement supporting the rental income charged to the subsidiary, including consideration of agreed terms and consistency with amounts recorded in the financial statements

As part of our enquiries, we discussed with management whether there have been any known instances, allegations, or suspicions of fraud, of which there were none reported.
We also evaluated the risk of fraud through management override including that arising from management's incentives. The key risk we identified was fraudulent financial reporting.
In response to the identified risk, as part of our audit work we:

- Identified and tested journal entries throughout the year and at year end, with particular focus on revenue recognition and manual adjustments;

- Considered the appropriateness of key estimates and judgements, although these were limited given the straightforward nature of the rental income arrangement.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. 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 deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Page 6
Page 7
Independent Auditor's Report (continued)
to the Members of
Taw Garage (Holdings) Limited
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 that 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.

Edward Meardon FCA (Senior Statutory Auditor) for and on behalf of Sumer Auditco Limited , Statutory Auditor
4 August 2026
Sumer Auditco Limited T/A Sumer Audit 6 Houndisombe Road Plymouth Devon PL4 6HH

Page 7
Page 8
Taw Garage (Holdings) Limited
Statement of Income and Retained Earnings
For the Period 1 April 2024 to 30 September 2025
Statement of Income and Retained Earnings

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
| Notes | £ |  | £
TURNOVER | 3 | 412,500 |  | 275,000
GROSS PROFIT |  | 412,500 |  | 275,000
Administrative expenses |  | (17,991 ) |  | (5,920 )
OPERATING PROFIT | 4 | 394,509 |  | 269,080
Income from Shares in group undertakings |  | 139,337 |  | -
PROFIT BEFORE TAXATION |  | 533,846 |  | 269,080
Tax on Profit | 8 | 1,312 |  | (67,270 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL PERIOD |  | 535,158 |  | 201,810
RETAINED EARNINGS
As at 1 April 2024 |  | 1,008,251 |  | 806,441
Dividends paid |  | (139,337) |  | -
As at 30 September 2025 |  | 1,404,072 |  | 1,008,251

The notes on pages 10 to 16 form part of these financial statements.
Page 8
Page 9
Taw Garage (Holdings) Limited
Balance Sheet
As At 30 September 2025
Balance Sheet
Registered number: 06840771

| 30 September 2025 | 31 March 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 9 |  | 3,491,943 |  | 3,499,934
Investments | 10 |  | 30,000 |  | 30,000
|  |  | 3,521,943 |  | 3,529,934
CURRENT ASSETS
Debtors | 11 | 344,334 |  | - |
|  | 344,334 |  | - |
Creditors: Amounts Falling Due Within One Year | 12 | (10,000 ) |  | (68,166 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 334,334 |  | (68,166 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 3,856,277 |  | 3,461,768
Creditors: Amounts Falling Due After More Than One Year | 13 |  | (2,443,300 ) |  | (2,443,300 )
PROVISIONS FOR LIABILITIES
Deferred Taxation | 14 |  | (8,805 ) |  | (10,117 )
NET ASSETS |  |  | 1,404,172 |  | 1,008,351
CAPITAL AND RESERVES
Called up share capital | 16 |  | 100 |  | 100
Profit and Loss Account |  |  | 1,404,072 |  | 1,008,251
SHAREHOLDERS' FUNDS |  |  | 1,404,172 |  | 1,008,351

On behalf of the board

Mr M R Brend Director | Mr R P Brend Director
3 August 2026

The notes on pages 10 to 16 form part of these financial statements.
Page 9
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Taw Garage (Holdings) Limited
Notes to the Financial Statements
For the Period 1 April 2024 to 30 September 2025
Notes to the Financial Statements
1. General Information
Taw Garage (Holdings) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06840771 . The registered office is 69 High Street, Bideford, Devon, EX39 2AT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.
During the period the company changed its accounting reference date from 31 March 2025 to 30 September 2025. Accordingly, the financial statements cover the eighteen-month period ended 30 September 2025. Comparative figures relate to the year ended 31 March 2024 and are therefore not directly comparable. The change was made following the restructuring and demerger of the wider group during the period.
The company is a parent undertaking but is exempt from the requirement to prepare consolidated financial statements under Section 9 of FRS 102. The exemption is taken as the company is a subsidiary undertaking included in the consolidated financial statements of Brend Garages Limited.
2.2. Financial Reporting Standard 102 - Reduced Disclosure Exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

- the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11.48 (a) (iii), 11.48 (a) (iv), 11.48 (b) and 11.48 (c);
- the requirements of Section 12 Other Financial Instruments Issues paragraphs 12.27, 12.29 (a), 12.29 (b), 12.29A and 12.30;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Brend Garages Limited as at 30 September 2025 and these financial statements may be obtained from Companies House.
2.3. Going Concern Disclosure
Taw Garage (Holdings) Limited does not trade in its own right. Its principal source of income is rental income received from its subsidiary, Taw Garages Limited.
The directors have considered the financial position and future prospects of Taw Garages Limited, including its forecast trading performance and cash flows for a period of at least twelve months from the date of approval of these financial statements.
During the period, Taw Garages Limited operated in a challenging motor retail environment and ceased operating as an authorised Ford dealer following the termination of its Ford franchise. The business has continued to adapt to these changes by focusing on its used vehicle, servicing, parts and fuel operations, together with other revenue streams available to the business.
The directors have reviewed forecasts prepared by Taw Garages Limited and are satisfied that the subsidiary is expected to generate sufficient cash flows to meet its obligations as they fall due, including the payment of rental charges to the company.
Accordingly, the directors have a reasonable expectation that Taw Garage (Holdings) Limited has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Page 10
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Taw Garage (Holdings) Limited
Notes to the Financial Statements (continued)
For the Period 1 April 2024 to 30 September 2025
2.4. Significant judgements and estimations
The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However the nature of estimation means that actual outcomes could differ from those estimates.
Freehold and Long-term leasehold properties
Included in the financial statements is freehold and long-term leasehold properties stated at cost. These are considered for impairment each year by the directors based on their assumptions of the property market.
2.5. Turnover
Turnover comprises of rent received by the company during the period.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and value added tax.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | 0%
Long-term leasehold | 0%
Fixtures & Fittings | 10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The directors consider that the freehold and leasehold properties are maintained in such a state of repair that their residual value is at least equal to their net book values. As a result, any corresponding depreciation charge would not be material and therefore, is not charged to the statement of income and retained earnings.
The carrying values of the freehold and leasehold properties are reviewed for impairment annually to ensure that the carrying value is recoverable.
2.7. Investments
Investments in subsidiaries are shown at cost less any provision for impairment.
2.8. Leasing and Hire Purchase Contracts
Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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Taw Garage (Holdings) Limited
Notes to the Financial Statements (continued)
For the Period 1 April 2024 to 30 September 2025
2.9. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Turnover
Analysis of turnover by class of business is as follows:

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
| £ |  | £
Rent receivable | 412,500 |  | 275,000

All turnover arose within the United Kingdom.
The turnover is the rent received from leasing the Company's properties. At 30 September 2025, the Company had future minimum lease income under non-cancellable operating leases as follows:

Not later than 1 year | £275,000 | (2024: £275,000)
Later than 1 year and not later than 5 years | £1,100,000 | (2024: £1,100,000)
Later than 5 years | £275,000 | (2024: £550,000)

4. Operating Profit
The operating profit is stated after charging:

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
| £ |  | £
Depreciation of tangible fixed assets | 7,991 |  | 5,920

5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the period was as follows:

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
| £ |  | £
Audit Services
Audit of the company's financial statements | 10,000 |  | -

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Taw Garage (Holdings) Limited
Notes to the Financial Statements (continued)
For the Period 1 April 2024 to 30 September 2025
6. Average Number of Employees
Average number of employees, including directors, during the period was as follows:

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
Directors | 6 |  | 6
| 6 |  | 6

7. Interest Receivable and Similar Income

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
| £ |  | £
Dividends from shares in subsidiaries | 139,337 |  | -

8. Tax on Profit
The tax (credit)/charge on the profit for the period was as follows:

| Tax Rate | 30 September 2025 |  | 31 March 2024
--- | --- | --- | --- | ---
| 30 September 2025 | 31 March 2024 | £ |  | £
Current tax
UK Corporation Tax | 21.0% | 25.0% | - |  | 68,166
Deferred Tax
Deferred taxation | (1,312 ) |  | (896 )
Total tax charge for the period | (1,312 ) |  | 67,270

The actual (credit)/charge for the period can be reconciled to the expected charge for the period based on the profit and the standard rate of corporation tax as follows:

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
| £ |  | £
Profit before tax | 533,846 |  | 269,080
Tax on profit at 25% (UK standard rate) | 133,462 |  | 67,270
Goodwill/depreciation not allowed for tax | - |  | 1,480
Expenses not deductible for tax purposes | 1,998 |  | -
Capital allowances | (686 ) |  | (584 )
Deferred tax from unrecognised timing difference from a prior period | (1,312 ) |  | (896 )
Group relief | (99,940 ) |  | -
Dividends from companies | (34,834 ) |  | -
Total tax charge for the period | (1,312) |  | 67,270

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Taw Garage (Holdings) Limited
Notes to the Financial Statements (continued)
For the Period 1 April 2024 to 30 September 2025
9. Tangible Assets

| Land & Property
--- | ---
| Freehold | Long-term leasehold | Fixtures & Fittings | Total
| £ | £ | £ | £
Cost
As at 1 April 2024 | 451,620 | 2,996,657 | 204,650 | 3,652,927
As at 30 September 2025 | 451,620 | 2,996,657 | 204,650 | 3,652,927
Depreciation
As at 1 April 2024 | 1,620 | - | 151,373 | 152,993
Provided during the period | - | - | 7,991 | 7,991
As at 30 September 2025 | 1,620 | - | 159,364 | 160,984
Net Book Value
As at 30 September 2025 | 450,000 | 2,996,657 | 45,286 | 3,491,943
As at 1 April 2024 | 450,000 | 2,996,657 | 53,277 | 3,499,934

10. Investments

| Subsidiaries
--- | ---
| £
Cost or Valuation
As at 1 April 2024 | 30,000
As at 30 September 2025 | 30,000
Provision
As at 1 April 2024 | -
As at 30 September 2025 | -
Net Book Value
As at 30 September 2025 | 30,000
As at 1 April 2024 | 30,000

Subsidiaries
Details of the company's subsidiaries as at 30 September 2025 are as follows:

Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding
--- | --- | --- | --- | ---
Taw Garages Limited | 69 High Street, Bideford, Devon, EX39 2AT | Ordinary | 100.00% | -

11. Debtors

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
| £ |  | £
Due after more than one year
Amounts owed by group undertakings | 344,334 |  | -

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Taw Garage (Holdings) Limited
Notes to the Financial Statements (continued)
For the Period 1 April 2024 to 30 September 2025
12. Creditors: Amounts Falling Due Within One Year

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
| £ |  | £
Corporation tax | - |  | 68,166
Accruals and deferred income | 10,000 |  | -
| 10,000 |  | 68,166

13. Creditors: Amounts Falling Due After More Than One Year

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
| £ |  | £
Amounts owed to group undertakings | 2,443,300 |  | 2,443,300

14. Deferred Taxation
The provision for deferred tax is made up as follows:

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
| £ |  | £
Other timing differences | 8,805 |  | 10,117

15. Provisions for Liabilities

| Deferred Tax | Total
--- | --- | ---
| £ | £
As at 1 April 2024 | 10,117 | 10,117
Deferred taxation | (1,312 ) | (1,312 )
Balance at 30 September 2025 | 8,805 | 8,805

16. Share Capital

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
100 Ordinary Shares of £ 1.00 each | 100 |  | 100

17. Dividends

| 30 September 2025 |  | 31 March 2024
--- | --- | --- | ---
| £ |  | £
On equity shares:
Interim dividend paid | 139,337 |  | -

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Taw Garage (Holdings) Limited
Notes to the Financial Statements (continued)
For the Period 1 April 2024 to 30 September 2025
18. Post Balance Sheet Events
Subsequent to the balance sheet date, a further group reorganisation was undertaken following the demerger of the wider group during the period, resulting in the newly incorporated Roundswell Company Ltd becoming the company's parent company.
19. Related Party Disclosures
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
20. Controlling Parties
The immediate and ultimate parent undertaking is Brend Garages Limited (incorporated in England & Wales). Its registered office is 69 High Street, Bideford, England, EX39 2AT .
Copies of the group accounts may be obtained from the company's registered office.
The company has no ultimate controlling party
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