REGISTERED NUMBER: 00838940 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Damerells Motor Cycles Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Damerell

A S Damerell

Mrs A L Damerell

L Damerell

R Damerell

SECRETARY:

Mrs A L Damerell

REGISTERED OFFICE:

Lodge Way

Indian Queens

Cornwall

TR9 6TF

REGISTERED NUMBER:

00838940 (England and Wales)

ACCOUNTANTS:

Colin Truscott Accountancy Limited

9 Heron Close

Tresillian

Cornwall

TR2 4BH

FIXED ASSETS

Tangible assets

5

978,512

971,245

CURRENT ASSETS

Stocks

742,694

815,604

Debtors

6

1,726,700

1,769,425

Cash at bank and in hand

17,258

218,203

2,486,652

2,803,232

CREDITORS

Amounts falling due within one year

7

631,410

665,383

NET CURRENT ASSETS

1,855,242

2,137,849

TOTAL ASSETS LESS CURRENT LIABILITIES

2,833,754

3,109,094

CREDITORS

Amounts falling due after more than one year

8

288,169

524,176

NET ASSETS

2,545,585

2,584,918

CAPITAL AND RESERVES

Called up share capital

9,510

9,510

Retained earnings

2,536,075

2,575,408

2,545,585

2,584,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2026 and were signed on its behalf by:

S J Damerell - Director

1.	STATUTORY INFORMATION

Damerells Motor Cycles Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be readily measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates Value Added Tax and other sales taxes.

Revenue from a contract to provide services is recognised in the period which the 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 they the company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

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

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2025 - 18 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2025

1,283,532

356,033

1,639,565

Additions

-

44,332

44,332

Disposals

-

(53,787

)

(53,787

)

At 31 March 2026

1,283,532

346,578

1,630,110

DEPRECIATION

At 1 April 2025

340,216

328,104

668,320

Charge for year

18,956

18,109

37,065

Eliminated on disposal

-

(53,787

)

(53,787

)

At 31 March 2026

359,172

292,426

651,598

NET BOOK VALUE

At 31 March 2026

924,360

54,152

978,512

At 31 March 2025

943,316

27,929

971,245

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2025

and 31 March 2026

34,210

DEPRECIATION

At 1 April 2025

13,684

Charge for year

6,842

At 31 March 2026

20,526

NET BOOK VALUE

At 31 March 2026

13,684

At 31 March 2025

20,526

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

39,155

22,541

Amounts owed by group undertakings

1,008,204

1,008,211

Amounts recoverable on contract

634,032

676,108

Other debtors

28,787

34,448

VAT

925

-

Deferred tax asset

1,659

7,358

Prepayments and accrued income

13,938

20,759

1,726,700

1,769,425

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts

7,694

7,340

Trade creditors

458,757

463,450

Tax

(23

)

29,447

Social security and other taxes

7,957

7,706

VAT

-

12,131

Other creditors

35,217

32,683

Directors' current accounts

57,754

37,754

Accruals and deferred income

64,054

74,872

631,410

665,383

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans - 2-5 years

158,134

321,503

Hire purchase contracts

1,979

9,673

Other creditors

128,056

193,000

288,169

524,176

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by S J Damerell by virtue of his shareholding in the parent company.