Registration number:
ACPS Automotive Services Ltd
for the Year Ended 31 December 2025
ACPS Automotive Services Ltd
Contents
|
Company Information |
|
|
Balance Sheet |
|
|
Notes to the Financial Statements |
ACPS Automotive Services Ltd
Company Information
|
Directors |
Mr Marvin Steven Keller Mr Adrian Thomas Parry-Jones |
|
Registered office |
|
|
Auditors |
|
ACPS Automotive Services Ltd
(Registration number: 14563386)
Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets/(liabilities) |
|
( |
|
|
Total assets less current liabilities |
|
( |
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net liabilities |
( |
( |
|
|
Capital and reserves |
|||
|
Called up share capital |
2 |
2 |
|
|
Retained earnings |
(963,171) |
(595,976) |
|
|
Shareholders' deficit |
(963,169) |
(595,974) |
Approved and authorised by the
|
......................................... |
......................................... |
ACPS Automotive Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
The principal place of business is:
Unit 18
Park View Business Centre
Combermere
Whitchurch
Shropshire
SY13 4AL
United Kingdom
These financial statements were authorised for issue by the
|
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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
Going concern
At 31 December 2025, the company had a net liabilities position of £963,169 (2024: £595,974) and reported a loss for the year of £367,195 (2024: £355,763).
The company would not be able to continue in operational existence for the foreseeable future without the ongoing support of its parent company. ACPS Automotive Holding 1 B.V. has provided a letter of financial support to the directors confirming that it will provide continued financial support to the company for the foreseeable future, and for a period of not less than one year from the date on which the financial statements are signed and authorised for issue.
As a consequence of the matters outlined above, the directors have a reasonable expectation that the company has adequate resources to meet its obligations and continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis, which the directors consider to be appropriate.
ACPS Automotive Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Audit report
We were unable to obtain sufficient appropriate audit evidence regarding the inventory balance of £362,321 included in the financial statements as at 31 December 2024, which forms part of the opening balances for the year ended 31 December 2025.
The Company undertook a physical inventory count at 31 December 2024. However, we were not appointed as auditors of the Company at that date and, consequently, we were unable to attend the physical count. Accordingly, we were unable to obtain audit evidence regarding the existence and quantity of inventory held at that date.
As a result of this, we were unable to determine whether any adjustments might have been necessary to the opening inventory balance and, consequently, to cost of sales and profit for the year ended 31 December 2025. Accordingly, we were unable to determine whether any adjustments were necessary to the financial statements in respect of these matters.
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's 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. .
The name of the Senior Statutory Auditor who signed the audit report on
.........................................
ACPS Automotive Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
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 |
|
Office Equipment |
10% straight line |
|
Computer Equipment |
33% 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.
ACPS Automotive Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the moving average method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
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.
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.
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
ACPS Automotive Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
|
Furniture, fittings and equipment |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2025 |
|
|
|
At 31 December 2025 |
|
|
|
Depreciation |
||
|
At 1 January 2025 |
|
|
|
Charge for the year |
|
|
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
|
|
|
At 31 December 2024 |
|
|
|
Stocks |
|
2025 |
2024 |
|
|
Other inventories |
|
|
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Prepayments |
- |
|
|
Other debtors |
|
|
|
|
|
ACPS Automotive Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Creditors |
Creditors: amounts falling due within one year
|
2025 |
2024 |
|
|
Due within one year |
||
|
Trade creditors |
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
2025 |
2024 |
|
|
Due after one year |
||
|
Other financial liabilities |
|
|
At 31 December 2025, the Company had a loan balance of £1,184,000 (2024 - £566,266) due to a group undertaking, ACPS Automotive Holding 1 B.V. The loan attracts interest at a variable rate of EURIBOR plus 5% and is repayable by 3rd April 2030. There are no fixed repayment instalments. The total facility available under the agreement is €3 million, of which €1,356,865 had been drawn at the year end.
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
2 |
|
2 |
ACPS Automotive Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
77,707 |
137,362 |
Summary of transactions with parent
During the year, the company received net loans amounting to £617,734 (2024: £343,835) from the connected entity.
At the balance sheet date ACPS Automotive Holding 1 B.V. was owed £1,184,000 (2024 £566,266) in the form of interest bearing loan.
ACPS Automotive Services Ltd
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Parent and ultimate parent undertaking |
The company's immediate parent is ACPS Automotive Holding 1 B.V., incorporated in Netherlands.
These financial statements are available upon request from the parent of the largest group in which these financial statements are consolidated is Hitched Holdings 1 B.V., incorporated in Netherlands.
The address of Hitched Holdings 1 B.V. is:
Schiphol Boulevard 387, Schiphol, 1118BJ
The parent of the smallest group in which these financial statements are consolidated is Hitched Holdings 2 B.V., incorporated in Schiphol, Netherlands.
The address of Hitched Holdings 2 B.V. is:
Schiphol Boulevard 389, 1118 BJ, Schiphol, The Netherlands
On 25th March 2026 the sale of Hitched Holdings 3 B.V. was completed and ownership of the company changed as follows:
The company's immediate parent continues to be ACPS Automotive Holding 1 B.V., incorporated in Netherlands.
The ultimate parent company is now Zhejiang Meili High Technology Co. Ltd. Consolidated group accounts of this company can be obtained from the following address
No. 1 Wenhua Road, Xinchang County, Shaoxing City, Zhejiang Provice, China.