Advance Car Specialists Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Advance Car Specialists Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11083116 . The registered office is Unit C Braintree Road Industrial Estate, Braintree Road, Ruislip, HA4 0EJ.

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. Going Concern Disclosure

During the year, director Nilesh Patel passed away. The remaining directors have carefully assessed the financial position, cash flows, and future prospects of the company following this event. After consideration of the available information and the continued operations of the business, the directors believe that the company has adequate resources to continue in operational existence for the foreseeable future.

2.3. Significant judgements and estimations

In the application of the company’s accounting policies, the director is required to make judgements, estimates and

assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The

estimates and associated assumptions are based on historical experience and other factors that are considered to be

relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are

recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of

the revision and future periods where the revision affects both current and future periods.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.5. 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:

Plant & Machinery	15% reducing balance
Motor Vehicles	15% reducing balance
Fixtures & Fittings	15% reducing balance
Computer Equipment	33.33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the

carrying value of the asset, and is credited or charged to profit or loss.

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Advance Car Specialists Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.7. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other

Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a

legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price

including transaction costs and are subsequently carried at amortised cost using the effective interest method unless

the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not

amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements

entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after

deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that

are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future payments discounted at a

market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business

from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not,

they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and

subsequently measured at amortised cost using the effective interest method.

2.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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.

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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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Advance Car Specialists Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 3)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 December 2024	261,458	89,558	-	42,758	393,774
Additions	24,865	-	1,552	-	26,417
Disposals	(37,991 )	(89,558 )	-	-	(127,549 )

As at 30 November 2025	248,332	-	1,552	42,758	292,642

Depreciation
As at 1 December 2024	79,069	8,956	-	39,031	127,056
Provided during the period	29,534	-	39	3,600	33,173
Disposals	(6,506 )	(8,956 )	-	-	(15,462 )

As at 30 November 2025	102,097	-	39	42,631	144,767

Net Book Value
As at 30 November 2025	146,235	-	1,513	127	147,875

As at 1 December 2024	182,389	80,602	-	3,727	266,718

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	130,083	60,409
Paye recoverable	-	696
Amounts owed by group undertakings	319,059	195,000

	449,142	256,105
Due after more than one year
Other Loan	483,860	483,860

	933,002	739,965

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	62,068	23,077
Bank loans and overdrafts	684	24,293
Corporation tax	148,486	92,276
Other taxes and social security	2,453	-
VAT	103,837	45,008
Other creditors	16,950	16,950

...CONTINUED

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Advance Car Specialists Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

Accruals and deferred income	4,640	4,640
Directors' loan accounts	2,255	210,450
Amounts owed to other participating interests	-	25,759

	341,373	442,453

7. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100
50 Ordinary B shares of £ 1.00 each	50	50
50 Ordinary C shares of £ 1.00 each	50	50

	200	200

8. Related Party Disclosures

Directors’ remuneration for the year amounted to £47,648 (2024: £17,638) and Dividends paid to directors in their capacity as shareholders amounted to £100,000 (2024: £81,000). At the reporting date, balances due to directors amounted to £2,254.92 (2024: £210,450.04).

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		147,875		266,718

			147,875		266,718
CURRENT ASSETS
Debtors	5	933,002		739,965
Cash at bank and in hand		500,467		464,399

		1,433,469		1,204,364
Creditors: Amounts Falling Due Within One Year	6	(341,373 )		(442,453 )

NET CURRENT ASSETS (LIABILITIES)			1,092,096		761,911

TOTAL ASSETS LESS CURRENT LIABILITIES			1,239,971		1,028,629

Creditors: Amounts Falling Due After More Than One Year			-		(90,435 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(36,969 )		(45,633 )

NET ASSETS			1,203,002		892,561

CAPITAL AND RESERVES
Called up share capital	7		200		200
Profit and Loss Account			1,202,802		892,361

SHAREHOLDERS' FUNDS			1,203,002		892,561

Mrs Darshna Meghji Director	Mrs Minal Meghji Director
22 September 2026