In Car Technologies Limited

Financial Statements

for the Year Ended 31 December 2025

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

50,657

53,671

CURRENT ASSETS

Stocks

351,192

336,591

Debtors

5

190,032

138,156

Cash at bank and in hand

149,039

183,734

690,263

658,481

CREDITORS

Amounts falling due within one year

6

250,051

267,767

NET CURRENT ASSETS

440,212

390,714

TOTAL ASSETS LESS CURRENT LIABILITIES

490,869

444,385

PROVISIONS FOR LIABILITIES

8,165

8,595

NET ASSETS

482,704

435,790

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

482,604

435,690

482,704

435,790

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2026 and were signed on its behalf by:

Mrs J Hall - Director

1.	STATUTORY INFORMATION

In Car Technologies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03950318

Registered office:

Unit 3 Apple Lane

Trade City

Sowton Industrial Estate

Exeter

Devon

EX2 5GL

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Changes in accounting policy

During the current financial year, the Company changed its accounting policy with respect to the treatment of consumables. Historically, items classified as consumables were excluded from the stock figure and fully expensed to the Profit and Loss account in the period of purchase. Under the new policy, these items are capitalized within stock upon acquisition and expensed to Cost of Sales only when consumed.

Management believes this policy provides more reliable and relevant information because it ensures a more accurate matching of costs with revenues and correctly reflects the physical assets held by the Company at the reporting date.

This change has been applied retrospectively, and the comparative figures for the prior period ended 31 December 2024 have been restated accordingly.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

Over the term of the lease

Plant and machinery etc

-

varying rates between 1-4 years 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. Stock includes raw materials, work in progress, finished goods, and consumable stores. Consumable stores are valued at cost and are recognized within stock until they are issued for use in the business.

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 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 statement of financial position date.

Deferred tax

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

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.

Going concern

The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2025

19,382

89,622

109,004

Additions

-

21,676

At 31 December 2025

19,382

111,298

130,680

DEPRECIATION

At 1 January 2025

92

55,241

55,333

Charge for year

1,293

23,397

24,690

At 31 December 2025

1,385

78,638

80,023

NET BOOK VALUE

At 31 December 2025

17,997

32,660

50,657

At 31 December 2024

19,290

34,381

53,671

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

as restated

£

Trade debtors

108,114

88,212

Other debtors

81,918

49,944

190,032

138,156

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

as restated

£

Trade creditors

137,099

131,792

Taxation and social security

69,556

68,484

Other creditors

43,396

67,491

250,051

267,767

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25

31.12.24

as restated

£

Within one year

92,840

Between one and five years

371,360

In more than five years

835,560

928,400

1,299,760

1,392,600

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

We draw attention to Note 2 to the financial statements, which describes a change in the Company's accounting policy regarding the recognition and categorisation of stock. As disclosed in Note 2, the Company previously excluded items classified as consumables from its stock valuation, expensing them as incurred. Moving forward, these consumables are now recognised within the stock figure to provide more reliable and relevant financial information. Accordingly, the prior year comparative figures as of 31 December 2024 and for the year then ended have been restated to reflect this retrospective application. Our opinion is not modified in respect of this matter.

James Salim FCCA (Senior Statutory Auditor)

for and on behalf of SMH Group Audit

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10.	ULTIMATE CONTROLLING PARTY

At 31 December 2025 the company's parent company was Perrin & Partners Ltd, a company which is incorporated in the UK. The consolidated accounts of this company are available to the public and may be obtained from Companies House, Cardiff.

There is no ultimate controlling party.