1st_Gear_Training_School_Limited_31_Dec_2025_companies_house_set_of

1st Gear Training School Limited

Statement of Financial Position

31 December 2025

		2025		2024
	Note	£		£
Fixed assets
Intangible assets	5	14,400		16,800
Tangible assets	6	97,938		125,091
		112,338		141,891
Current assets
Debtors	7	15,019		13,764
Cash at bank and in hand		(10,524	)	7,129
		4,495		20,893
Creditors: amounts falling due within one year	8	(103,081	)	(130,694	)
Net current liabilities		(98,586	)	(109,801	)
Total assets less current liabilities		13,752		32,090
Creditors: amounts falling due after more than one year	9	(10,466	)	(31,805	)
Net assets		3,286		285
Capital and reserves
Called up share capital		200		200
Profit and loss account		3,086		85
Shareholders funds		3,286		285

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.

Directors' responsibilities:

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

These

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 income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

16 September 2026

, and are signed on behalf of the board by:



Mrs M Neill	Mr W Neill
Director	Director

Company registration number:

13808674

1st Gear Training School Limited

Notes to the Financial Statements

Year ended

31 December 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

1st Gear Training School

Rushmoor Road

Aldershot

Hampshire

GU11 2RE

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.

Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land and buildings	Straight line over 20 years
Fixtures, fittings and equipment	25% reducing balance
Motor vehicles	25% reducing balance

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

4.00

5 Intangible assets

	Goodwill
	£
Cost
At 1 January 2025 and 31 December 2025	24,000
Amortisation
At 1 January 2025	7,200
Charge	2,400
At 31 December 2025	9,600
Carrying amount
At 31 December 2025	14,400
At 31 December 2024	16,800

6 Tangible assets

	Land and buildings	Plant and machinery etc.		Total
	£	£		£
Cost
At 1 January 2025	53,427	170,518		223,945
Additions	-	30,864		30,864
Disposals	-	(14,500	)	(14,500	)
At 31 December 2025	53,427	186,882		240,309
Depreciation
At 1 January 2025	8,013	90,841		98,854
Charge	2,671	46,721		49,392
Disposals	-	(5,875	)	(5,875	)
At 31 December 2025	10,684	131,687		142,371
Carrying amount
At 31 December 2025	42,743	55,195		97,938
At 31 December 2024	45,414	79,677		125,091

7 Debtors

	2025		2024
	£		£
Trade debtors	15,019		13,764

8 Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	8,580	11,627
Trade creditors	898	498
Taxation and social security	38,953	18,873
Other creditors	54,650	99,696
	103,081	130,694

9 Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	6,111	16,267
Other creditors	4,355	15,538
	10,466	31,805