Close Motor Company Limited

	Page
Statement of Financial Position	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—8

Registered number: 03823504

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		218,978		198,888
Investment Properties	5		316,511		316,511

			535,489		515,399
CURRENT ASSETS
Stocks	6	2,243,865		2,181,787
Debtors	7	385,529		249,905
Cash at bank and in hand		196,950		399,321

		2,826,344		2,831,013
Creditors: Amounts Falling Due Within One Year	8	(2,435,257 )		(2,286,515 )

NET CURRENT ASSETS (LIABILITIES)			391,087		544,498

TOTAL ASSETS LESS CURRENT LIABILITIES			926,576		1,059,897

Creditors: Amounts Falling Due After More Than One Year	9		-		(29,121 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(33,032 )		(24,788 )

NET ASSETS			893,544		1,005,988

CAPITAL AND RESERVES
Called up share capital	11		350,000		355,264
Share premium account			94,736		94,736
Capital redemption reserve			5,264		-
Income Statement			443,544		555,988

SHAREHOLDERS' FUNDS			893,544		1,005,988

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Close Motor Company Limited

Statement of Financial Position (continued)

As At 31 December 2025

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr S Close

Director

27th August 2026

The notes on pages 4 to 8 form part of these financial statements.

1. General Information

Close Motor Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03823504 . The registered office is 7/11 High Street, Corby, Northamptonshire, NN17 1UX.

The company does not have a single trading address.

The presentation currency of the financial statements is Pound Sterling (£).

Amounts in the financial statements are rounded to the nearest £.

The principal activity of the company is that of a motor dealership.

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 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover from the sale of goods is recognised in the Income Statement, net of discounts and value added tax,

when the significant risks and rewards of ownership have been transferred to the buyer. In general this occurs

when vehicles or parts have been supplied or when a service has been completed.

Incentives received from manufacturers in respect of target achievements are accounted for as a deduction from

the cost of the vehicles or parts to which they relate.

Commission income is accounted for on a receivable basis.

2.3. 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	3% Straight line
Leasehold	3% Straight line
Plant & Machinery	25% Reducing balance
Motor Vehicles	25% Reducing balance
Fixtures & Fittings	25% Reducing balance
Computer Equipment	25% straight line

Freehold land is not depreciated.

2.4. Investment Properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in the Income Statement.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Consigned vehicles, which due to the significant risks and responsibilities of ownership passing to the company

are regarded effectively as being under the control of the company, are included within stocks on the Statement

of Financial Position although legal title has not passed to the company. The corresponding liability is included

within trade creditors and is secured directly on those vehicles.

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Close Motor Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Financial Instruments

The company has basic financial instruments:-

Debtors

Debtors are measured at transaction price less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank and other loans, are measured at amortised cost.

2.7. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in Other Comprehensive lncome or directly in Equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted

or substantively enacted by the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

reporting date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement in the period to which they relate.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 17 (2024: 24)

4. Tangible Assets

	Land & Buildings	Plant & Machinery etc.	Total
	£	£	£
Cost
As at 1 January 2025	503,088	279,504	782,592
Additions	22,097	11,666	33,763

As at 31 December 2025	525,185	291,170	816,355

Depreciation
As at 1 January 2025	311,894	271,810	583,704
Provided during the period	9,628	4,045	13,673

As at 31 December 2025	321,522	275,855	597,377

Net Book Value
As at 31 December 2025	203,663	15,315	218,978

As at 1 January 2025	191,194	7,694	198,888

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Close Motor Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Investment Property

	2025
	£
Fair Value
As at 1 January 2025 and 31 December 2025	316,511

6. Stocks

	2025	2024
	£	£
Parts stock	88,737	96,951
Vehicle stock	2,155,128	2,084,836

	2,243,865	2,181,787

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	223,262	121,181
Prepayments and accrued income	29,095	18,114
Other debtors	53,920	75,155
Corporation tax recoverable	-	35,455
VAT	2,789	-
Directors' loan accounts	76,463	-

	385,529	249,905

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,458,771	1,147,069
Other taxes and social security	10,295	8,978
VAT	-	114,443
Other creditors	947,526	981,800
Accruals and deferred income	18,665	27,785
Directors' loan accounts	-	6,440

	2,435,257	2,286,515

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

	2025	2024
	£	£
Other loan	-	29,121

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Close Motor Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

10. Secured Creditors

Of the creditors the following amounts are secured.

	2025		2024
	£		£
Other Creditors	998,444		963,241

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	350,000	355,264

On 7 May 2025 the company purchased 5,264 of its share capital for a total of £105,000. The payment was offset against an existing shareholder loan.

12. Pension Commitments

The company operates a defined contribution pension scheme. The pension cost charge for the year represents

contributions payable by the company to the scheme: these amounted to £9,914 (2024: £14,344). An amount of £2,446 (2024: £2,198) was owed to the scheme at the year end.

13. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2025
	£	£	£	£	£
Mr Robert Close	(6,440 )	86,803	(4,500 )	-	75,863

The above loan is unsecured, interest free and repayable on demand. The closing balance of £75,863 was the maximum overdrawn in the year. The loan was settled in full by 13 March 2026.

14. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	117,105	114,000

Dividends of £117,105 (2024: £114,000) were paid to the directors in the year.

15. Reserves

	Share Premium	Capital Redemption	Income Statement
	£	£	£
As at 1 January 2025	94,736	-	555,988
Profit for the year and total comprehensive income	-	-	4,661

Dividends paid	-	-	(117,105)
Purchase of own shares	-	5,264	-

As at 31 December 2025	94,736	5,264	443,544

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Close Motor Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Share premium

This reserve includes any premiums received on issue of share capital. Any transaction costs associated with

the issuing of shares are deducted from share premium.

Retained earnings

This reserve includes all current and prior period retained profits and losses and revaluation gains and losses on

investment property, less dividends payable.

16. Related Party Transactions

During the year the company paid rent amounting to £18,000 (2024: £18,000) to Collyweston Garage

Limited, a company owned by Mr R M Close and Mrs J Close.

Page 8

	Share Capital	Share Premium	Capital Redemption	Income Statement	Total
	£	£	£	£	£
As at 1 January 2024	355,264	94,736	-	266,538	716,538
Profit for the year and total comprehensive income	-	-	-	403,450	403,450

Dividends paid	-	-	-	(114,000)	(114,000)

As at 31 December 2024 and 1 January 2025	355,264	94,736	-	555,988	1,005,988


Profit for the year and total comprehensive income	-	-	-	4,661	4,661

Dividends paid	-	-	-	(117,105)	(117,105)
Purchase of own shares	(5,264 )	-	5,264	-	-

As at 31 December 2025	350,000	94,736	5,264	443,544	893,544