Registration number:
Vickers (Lakeside) Limited
for the Year Ended 31 December 2025
Vickers (Lakeside) Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Vickers (Lakeside) Limited
Company Information
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Director |
S Dayes |
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Company secretary |
G Clues |
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Registered office |
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Auditors |
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Vickers (Lakeside) Limited
Strategic Report for the Year Ended 31 December 2025
The director presents his strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the company is the sale of new and used vehicles, parts and vehicle servicing and repair.
Fair review of the business
The dealership operates under the trading name of Tony Le Voi representing the Vauxhall and Jeep franchises at the Lakeside Retail Park in West Thurrock.
The year ended 31 December 2025 reflects the first full year of trading following the introduction of the Jeep franchise in October 2024. The addition of the franchise has broadened the Company's product offering and contributed positively to vehicle sales during the year.
The Company maintains a strong Balance Sheet with total assets of £4,821,758 (2024: £4,196,574) and net assets of £766,413 (2024: £885,635).
The Director is satisfied with the manufacturers' key performance indicators achieved across all areas during the year, particularly in the context of a challenging trading environment. The Company maintained a strong focus on customer satisfaction achieving the Vauxhall Customer Excellence award for the tenth consecutive year and ranking 2nd nationally in Jeep KPI performance.
The Spoticar used car centre continues to develop steadily both in terms of market awareness and sales volume. Investment in enhanced digital systems has improved the customer experience and the Company intends to further develop these platforms to improving the conversion of online enquiries into showroom activity.
The Company is also engaging with the Stellantis All Makes Service and Parts Program platforms to enhance aftersales revenue streams.
The overall strategy remains consistent with prior years, focusing on maintaining and strengthening the Company’s market position alongside established manufacturer brands including new electric vehicle models and upcoming vehicle launches.
Cash management has been well controlled throughout the year. Stock funding arrangements with Stellantis finance has been simplified, strengthening the Company’s cash facilities. Cash was injected into the business following the disposal of the Romford dealership in 2024, resulting in reduced funding requirements and lower interest charges.
The Director is confident that the business has sufficient liquidity to meet its obligations and to support ongoing trading activities.
Vickers (Lakeside) Limited
Strategic Report for the Year Ended 31 December 2025
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£ |
27,195,122 |
23,156,202 |
|
Turnover growth / (decline) |
% |
17 |
(21) |
|
Gross profit |
£ |
4,087,326 |
4,197,531 |
|
Gross profit margin |
% |
15 |
18 |
|
Profit before tax |
£ |
40,922 |
104,395 |
|
- |
- |
||
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New vehicle unit sales |
No. |
487 |
149 |
|
Used vehicle unit sales |
No. |
618 |
957 |
|
Total service hours |
No. |
40,028 |
44,716 |
Principal risks and uncertainties
Manufacturers supply of new and improved product
The Company is reliant on new vehicle products from Vauxhall and Jeep. This exposes the Company to risks in a number of areas as the Company is dependent on its manufacturer/supplier in respect of availability of new vehicle products, quality of new vehicle products and pricing of new vehicle products.
The Director is confident that future new products from its manufacturer/supplier will continue to be competitively priced and high quality and therefore consider that this "manufacturer risk" is minimal. It is, in any case, mitigated by the other core self-help business areas of the Company, including used vehicle sales, parts sales / body shop and service work.
Economic downturn
The success of the business is reliant on consumer spending. An economic downturn, resulting in a reduction of consumer spending power, will have a direct impact on the income achieved by the company. In response to this risk, senior management aim to keep abreast of economic conditions. In cases of severe economic downturn, quick and flexible marketing and pricing strategies are modified to reflect the new market conditions.
Approved and authorised by the
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Vickers (Lakeside) Limited
Director's Report for the Year Ended 31 December 2025
The director presents his report and the financial statements for the year ended 31 December 2025.
Director of the company
The director who held office during the year was as follows:
Dividends
No dividends were paid or declared during the year ended 31 December 2025 (2024: £nil).
Financial instruments
Objectives and policies
The company's principal financial instruments comprise stock, bank balances, trade creditors and trade debtors. The main purpose of these instruments is to raise funds for and to finance the company's operations. The company's approach to managing other risks applicable to the financial instruments concerned are shown below.
Price risk, credit risk, liquidity risk and cash flow risk
Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs.
Interest rate risk
The company finances its operations through retained profits. The interest rate exposure of the financial assets and liabilities of the company as at 31 December 2025 is shown in the financial statements. The balance sheet includes trade debtors and creditors which do not attract interest and are therefore subject to fair value interest rate risk.
Disclosure of information to the auditors
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Reappointment of auditors
The auditor, Sterling Grove Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Approved and authorised by the
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Vickers (Lakeside) Limited
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Vickers (Lakeside) Limited
Independent Auditor's Report to the Members of Vickers (Lakeside) Limited
Opinion
We have audited the financial statements of Vickers (Lakeside) Limited (the 'company') for the year ended 31 December 2025, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Vickers (Lakeside) Limited
Independent Auditor's Report to the Members of Vickers (Lakeside) Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 5], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Vickers (Lakeside) Limited
Independent Auditor's Report to the Members of Vickers (Lakeside) Limited
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director.
• Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Vickers (Lakeside) Limited
Independent Auditor's Report to the Members of Vickers (Lakeside) Limited
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Vickers (Lakeside) Limited
Independent Auditor's Report to the Members of Vickers (Lakeside) Limited
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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For and on behalf of
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
Vickers (Lakeside) Limited
Profit and Loss Account for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
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|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating profit |
131,772 |
326,113 |
|
|
Other interest receivable and similar income |
|
- |
|
|
Interest payable and similar expenses |
( |
( |
|
|
(90,850) |
(221,718) |
||
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
(Loss)/profit for the financial year |
( |
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Vickers (Lakeside) Limited
(Registration number: 03287149)
Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
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Tangible assets |
|
|
|
|
Other financial assets |
10,000 |
- |
|
|
|
|
||
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Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
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Cash at bank and in hand |
|
|
|
|
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||
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Creditors: Amounts falling due within one year |
( |
( |
|
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Net current assets |
|
|
|
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Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
439,369 |
439,369 |
|
|
Capital redemption reserve |
262,490 |
262,490 |
|
|
Retained earnings |
64,554 |
183,776 |
|
|
Shareholders' funds |
766,413 |
885,635 |
Approved and authorised by the
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Vickers (Lakeside) Limited
Statement of Changes in Equity for the Year Ended 31 December 2025
|
Share capital |
Capital redemption reserve |
Retained earnings |
Total |
|
|
At 1 January 2025 |
|
|
|
|
|
Loss for the year |
- |
- |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
Share capital |
Capital redemption reserve |
Retained earnings |
Total |
|
|
At 1 January 2024 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
At 31 December 2024 |
439,369 |
262,490 |
183,776 |
885,635 |
Vickers (Lakeside) Limited
Statement of Cash Flows for the Year Ended 31 December 2025
|
Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
|
(Loss)/profit for the year |
( |
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Profit on disposal of tangible assets |
( |
( |
|
|
Finance income |
( |
- |
|
|
Finance costs |
|
|
|
|
Corporation tax expense |
|
|
|
|
|
( |
||
|
Working capital adjustments |
|||
|
(Increase)/decrease in stocks |
( |
|
|
|
Increase in trade debtors |
( |
( |
|
|
Increase/(decrease) in trade creditors |
|
( |
|
|
Cash generated from operations |
|
( |
|
|
Corporation tax paid |
( |
( |
|
|
Net cash flow from operating activities |
|
( |
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
- |
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Acquisitions of other financial assets |
( |
- |
|
|
Net cash flows from investing activities |
( |
|
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Repayment of bank borrowing |
( |
( |
|
|
Repayment of other borrowing |
- |
( |
|
|
Repayment of share capital classified as debt |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 January |
|
( |
|
|
Cash and cash equivalents at 31 December |
521,522 |
438,222 |
|
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales, with company number 03287149.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Judgements
In the application of the Company’s accounting policies, the Directors are 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. |
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. |
Stock valuation |
Stock valuation is regularly monitored against age profile and market demand. Management use a number of market tools during the appraisal process including Glass' and CAP valuation guides. The Directors maintain oversight of ageing stock profiles and monthly review of any provision required is performed. |
The amount of stock provided for at the year end was £178,093 (2024 - £125,164) |
Consignment stock |
Vehicles held on consignment stock have been included in stock on the basis that the Company has determined that it holds the significant risks and rewards attached to these vehicles. |
The amount of consignment stock held at the year end was £1,339,519 (2024 - £919,134). |
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in 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 that 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.
Commission receivable
Turnover from commission receivable is recognised when the amount can be reliably measured, and it is probable that the Company will receive the consideration.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Long-term leasehold property |
over life of lease |
|
Plant and machinery |
10-33% straight line |
|
Motor vehicles |
10-33% straight line |
|
Fixture and fittings |
10-33% straight line |
|
Computer equipment |
10% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Consignment stock
Under supply agreements with Vauxhall Motors Limited and Fiat Chrysler Automobiles UK Limited, the Company has access to 'consignment stock’ during a consignment period. Where the nature of these supply agreements transfers risks and rewards to the Company, which in substance give the Company control over stock during the consignment period and liabilities in respect of holding costs, the Company recognises these stocks in the Balance Sheet together with the equivalent liability.
Where supply agreements do not provide risks and rewards to the Company until such time as legal title actually passes at the end of the consignment period, these stocks are not included in the Balance Sheet. Both the terms under which the stocks are held are held and the financial commitment in respect of these stocks are disclosed in the notes to the financial statements.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Financial instruments
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
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price(adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured as fair value through the profit and loss). When this constitutes a financing transaction, whereby the debt instruments is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is material.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Turnover |
An analysis of turnover by class of business is as follows:
|
2025 |
2024 |
|
|
Vehicle sales |
|
|
|
Bodyshop |
|
|
|
Parts |
|
|
|
Service |
|
|
|
Commissions received |
|
|
|
|
|
All turnover arose within the United Kingdom.
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Operating lease expense - property |
|
|
|
Profit on disposal of property, plant and equipment |
( |
( |
|
Auditor's remuneration - Audit of the company's financial statements |
14,500 |
24,000 |
|
Auditor's remuneration - Preparation of statutory financial statements |
2,500 |
2,400 |
|
Auditor's remuneration - Tax services |
2,000 |
2,400 |
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Other finance income |
|
- |
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
- |
|
|
Interest expense on other finance liabilities |
|
|
|
Mortgage interest payable |
- |
|
|
|
|
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Sales |
|
|
|
|
|
|
Director's remuneration |
The director's remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
97,335 |
100,940 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
|
( |
|
147,377 |
27,398 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
|
|
Arising from previously unrecognised tax loss, tax credit or temporary difference of prior periods |
- |
509 |
|
Total deferred taxation |
|
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Increase/(decrease) in UK and foreign current tax from adjustment for prior periods |
|
( |
|
Tax increase/(decrease) from effect of capital allowances and depreciation |
|
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax expense from unrecognised temporary difference from a prior period |
|
- |
|
Tax (decrease)/increase from other tax effects |
( |
|
|
Total tax charge |
|
|
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
|
|
Cost or valuation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Additions |
- |
|
- |
- |
|
|
Disposals |
- |
( |
- |
- |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
( |
- |
- |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 December 2025 |
|
|
|
|
|
|
At 31 December 2024 |
|
|
|
|
|
Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings, £Nil (2024 - £Nil) in respect of long leasehold land and buildings and £6,695 (2024 - £9,786) in respect of short leasehold land and buildings.
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Other financial assets (current and non-current) |
|
Financial assets at cost less impairment |
Total |
|
|
Non-current financial assets |
||
|
Cost or valuation |
||
|
Additions |
10,000 |
10,000 |
|
At 31 December 2025 |
10,000 |
10,000 |
|
Impairment |
||
|
Carrying amount |
||
|
At 31 December 2025 |
|
10,000 |
|
Stocks |
|
2025 |
2024 |
|
|
Parts work in progress |
|
|
|
Vehicles |
|
|
|
Consignment stock |
|
|
|
|
|
The carrying amount of stocks pledged as security for liabilities amounted to £
|
Debtors |
|
Current |
Note |
2025 |
2024 |
|
Trade debtors |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments and accrued income |
|
|
|
|
Deferred tax assets |
- |
|
|
|
|
|
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
|
|
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
- |
|
|
|
Trade creditors |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other payables |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Corporation tax |
16,685 |
28,242 |
|
|
Vehicle consignment creditors |
|
|
|
|
|
|
||
|
Due after one year |
|||
|
Share capital treated as debt |
|
|
Disclosure of the terms and conditions attached to the non-equity shares is made in note 18.
|
Deferred tax |
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
( |
( |
|
Increase (decrease) in existing provisions |
|
|
|
At 31 December 2025 |
- |
- |
|
|
||
The deferred tax asset was made up of accelerated capital allowances.
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
376,868 |
|
376,868 |
|
|
|
62,500 |
|
62,500 |
|
|
|
1 |
|
1 |
|
|
|
|
|
|
Rights, preferences and restrictions
|
Ordinary A shares [Shares classified as equity] have the following rights, preferences and restrictions: |
|
Ordinary B shares [Shares classified as equity] have the following rights, preferences and restrictions: |
|
Ordinary Z shares [Shares classified as equity] have the following rights, preferences and restrictions: |
|
Ordinary C shares [Shares classified as debt] have the following rights, preferences and restrictions: |
|
Reserves |
Capital redemption reserve
The capital redemption reserve represents the nominal value of shares repurchased by the Company.
Retained earnings
Retained earnings includes all current and prior period retained profits and losses.
|
Loans and borrowings |
Current loans and borrowings
|
2025 |
2024 |
|
|
Bank borrowings |
- |
|
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Analysis of changes in net debt |
|
At 1 January 2025 |
Cash flows |
At 31 December 2025 |
|
|
Cash and cash equivalents |
|||
|
Cash at bank and in hand |
438,222 |
83,300 |
521,522 |
|
Borrowings |
|||
|
Bank loans |
55,855 |
(55,855) |
- |
|
|
|
|
|
|
|
|||
|
Related party transactions |
During the year ended 31 December 2024 Focus BMC Ltd was a related party to the company as both entities had common Directorship. During the year the company made purchases from Focus BMC Ltd of £nil (2024 - £9,333). As at 31 December 2025 a balance of £nil (2024 - £nil) was owed to Focus BMC Ltd.
Vickers (Lakeside) Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Financial instruments |
Financial assets measured at amortised cost
|
2025 |
2024 |
|
|
Cash at bank and in hand |
521,522 |
438,222 |
|
Trade debtors |
594,454 |
259,998 |
|
Other debtors |
140,221 |
270,962 |
|
1,256,197 |
969,182 |
Financial liabilities measured at amortised cost
|
2025 |
2024 |
|
|
Loan and borrowings |
- |
55,855 |
|
Trade creditors |
2,087,642 |
1,625,525 |
|
Other payables |
362,448 |
385,917 |
|
2,450,090 |
2,067,297 |
|
Parent and ultimate parent undertaking |
The ultimate controlling party is