Registered number: 06811657
COMPANY INFORMATION
CONTENTS
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their Strategic Report for the year ended 31 December 2025.
The principal activity of Euro Commercials (South West) Limited during the year was the operation of commercial vehicle dealerships representing Mercedes-Benz Truck, Mercedes-Benz Van and FUSO. The Company's activities comprised the sale of new and used light commercial vehicles ("LCVs") and heavy goods vehicles ("HGVs"), servicing and maintenance of LCVs and HGVs, and the sale of manufacturer-approved parts.
On 31 May 2025, the Company's parent undertaking, Euro Commercials (South West) Group Limited, was acquired by Euro Commercials Limited. Following the acquisition, the Company's trade and substantially all of its trading activities were transferred to Euro Commercials Limited. As a result, the Company ceased to undertake significant trading activities following the transfer.
The directors consider that the financial statements should be read in the context of this significant change in the Company's activities during the year.
The Company traded as normal during the period prior to the acquisition of its parent undertaking. Management remained focused on maintaining customer relationships, delivering services and managing the Company's financial and operational performance. Following completion of the acquisition and subsequent transfer of the trade, the principal trading activities were conducted by Euro Commercials Limited and the Company's ongoing activities were consequently substantially reduced.
The results for the year therefore reflect two distinct periods: the period during which the Company operated its trade and the period following the transfer of that trade. Comparisons with the previous financial year should be considered in light of this change in circumstances.
Following the transfer of the Company's trade to Euro Commercials Limited, the directors do not anticipate a return to the Company's previous level of trading activity.
The directors recognise the importance of employees to the success of the business. Prior to the transfer of the trade, the Company sought to maintain effective communication with employees and to manage the impact of the acquisition and transfer of the business appropriately. Employees transferred as part of the transaction, with the transfer undertaken in accordance with the applicable legal and contractual requirements.
The directors recognise the importance of responsible business practices and seek to ensure that the Company's activities are conducted with appropriate regard to environmental and social considerations. Following the transfer of the Company's trade, the Company's direct operational impact has been substantially reduced.
On 31 May 2025, the Company's parent undertaking, Euro Commercials (South West) Group Limited, was acquired by Euro Commercials Limited. Following the acquisition, the Company's trade and substantially all of its trading activities were transferred to Euro Commercials Limited. As a result, the Company ceased to undertake significant trading activities following the transfer.
The directors consider that the financial statements should be read in the context of this significant change in the Company's activities during the year.
The Company traded as normal during the period prior to the acquisition of its parent undertaking. Management remained focused on maintaining customer relationships, delivering services and managing the Company's financial and operational performance. Following completion of the acquisition and subsequent transfer of the trade, the principal trading activities were conducted by Euro Commercials Limited and the Company's ongoing activities were consequently substantially reduced.
The results for the year therefore reflect two distinct periods: the period during which the Company operated its trade and the period following the transfer of that trade. Comparisons with the previous financial year should be considered in light of this change in circumstances.
Following the transfer of the Company's trade to Euro Commercials Limited, the directors do not anticipate a return to the Company's previous level of trading activity.
The directors recognise the importance of employees to the success of the business. Prior to the transfer of the trade, the Company sought to maintain effective communication with employees and to manage the impact of the acquisition and transfer of the business appropriately. Employees transferred as part of the transaction, with the transfer undertaken in accordance with the applicable legal and contractual requirements.
The directors recognise the importance of responsible business practices and seek to ensure that the Company's activities are conducted with appropriate regard to environmental and social considerations. Following the transfer of the Company's trade, the Company's direct operational impact has been substantially reduced.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The principal risks faced by the Company during the year included operational, financial and commercial risks associated with its trading activities.
Following the transfer of the trade to Euro Commercials Limited, the Company's exposure to many of the operational and commercial risks associated with the underlying trading business has substantially reduced.
The directors recognise the importance of maintaining appropriate relationships with the Company's principal stakeholders, including customers, suppliers, employees, lenders and shareholders. The acquisition of the Company's parent undertaking and subsequent transfer of the trade required engagement with relevant stakeholders to facilitate an orderly transition of the Company's business activities.
Key financial risks include liquidity risk and credit risk. The directors seek to manage these risks through appropriate monitoring of cash resources, amounts receivable and amounts payable. Following the transfer of the trade, the Company's exposure to these key financial risks has substantially reduced.
The future activities of the Company will principally depend upon the arrangements put in place following the transfer of its trade, including the management of any remaining assets and liabilities and the completion of any outstanding matters arising from the transfer. The directors will continue to monitor the Company's financial position and take appropriate action to protect the interests of the Company and its shareholders.
Following the transfer of the trade to Euro Commercials Limited, the Company's exposure to many of the operational and commercial risks associated with the underlying trading business has substantially reduced.
The directors recognise the importance of maintaining appropriate relationships with the Company's principal stakeholders, including customers, suppliers, employees, lenders and shareholders. The acquisition of the Company's parent undertaking and subsequent transfer of the trade required engagement with relevant stakeholders to facilitate an orderly transition of the Company's business activities.
Key financial risks include liquidity risk and credit risk. The directors seek to manage these risks through appropriate monitoring of cash resources, amounts receivable and amounts payable. Following the transfer of the trade, the Company's exposure to these key financial risks has substantially reduced.
The future activities of the Company will principally depend upon the arrangements put in place following the transfer of its trade, including the management of any remaining assets and liabilities and the completion of any outstanding matters arising from the transfer. The directors will continue to monitor the Company's financial position and take appropriate action to protect the interests of the Company and its shareholders.
The directors consider that the Strategic Report, taken as a whole, provides a fair review of the development and performance of the Company's business during the financial year and describes the principal risks and uncertainties facing the Company.
This report was approved by the board on 30 September 2026 and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.
The loss for the year, after taxation, amounted to £963,187 (2024 - loss £364,986).
The directors who served during the year were:
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The auditors, Menzies LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EURO COMMERCIALS (SOUTH WEST) LTD
We have audited the financial statements of Euro Commercials (South West) Ltd (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, 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 auditing the financial statements, we have concluded that the directors' 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 financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EURO COMMERCIALS (SOUTH WEST) LTD (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the 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 or the Directors' report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EURO COMMERCIALS (SOUTH WEST) LTD (CONTINUED)
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 Auditors' 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.
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 planning procedures identify the legal and regulatory frameworks applicable to the operations and financial statements of the company. These are reviewed internally with the audit team including relevant industry experience and expectations as well as externally with the client management. The key laws and regulations we considered in this context were the UK Companies Act 2006, UK GAAP (FRS 102) and relevant tax legislation.
Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities, including fraud and adjust our testing accordingly. Our audit procedures include:
- Discussing with Directors and management which areas of the business they believe to be more susceptible to fraud, and whether they have any knowledge or suspicion of fraudulent activities;
- Obtaining an understanding of the key controls put in place by the company to address risks identified, assessing the effectiveness of those and discussing how these are maintained and monitored internally;
- Assessing the risk of management override and review and testing of journal entries made into the accounting system;
- Challenging assumptions and judgements made by the company in relation to the significant accounting estimates employed in the preparation of the financial statements;
- Discussing with Directors and Management the legal and regulatory obligations of the business and whether they have any knowledge or suspicion of non compliance.
Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likely involve collusion, forgery, intentional misrepresentation, or the override of internal controls.
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 Auditors' 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 Auditors' 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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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EURO COMMERCIALS (SOUTH WEST) LTD (CONTINUED)
for and on behalf of
Chartered Accountants
Statutory Auditor
5th Floor Hodge House
114-116 St Mary Street
CF10 1DY
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STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2026 .
The notes on pages 13 to 27 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Euro Commercials (South West) Limited is a private company limited by shares, incorporated and registered in England and Wales. The address of the registered office is given on the company information page.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Euro Commercials Holdings Limited as at 31 December 2025 and these financial statements may be obtained from Companies House.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
Impairment of financial assets
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Derecognition of financial instruments
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Critical judgements in applying the Company's accounting policies
The following are the critical judgements, apart from those involving estimations (which are dealt with separately below), that the directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Impairment of Debtors
An allowance for the impairment of trade debtors is considered. This requires management's best estimate of impairment to specific debts on the basis of objective evidence that is available.
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12.Tangible fixed assets (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12.Tangible fixed assets (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company's immediate parent undertaking is Euro Commercials (South West) Group Limited. During the year, the group was acquired by Euro Commercials Limited. At the balance sheet date, the Company's ultimate parent undertaking is Euro Commercials Holdings Limited, a company incorporated in England and Wales.
The financial statements of the Company are included in the consolidated financial statements of Euro Commercials Holdings Limited.
The financial statements of the Company are included in the consolidated financial statements of Euro Commercials Holdings Limited.
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