WM Hodge and Sons (Garage) Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 8

WM Hodge and Sons (Garage) Limited

(Registration number: 00736329)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	-	292
Investment property	5	1,380,000	59,815
Other financial assets	6	33,166	33,000
		1,413,166	93,107
Current assets
Debtors	7	6,506	-
Cash at bank and in hand		61,076	50,725
		67,582	50,725
Creditors: Amounts falling due within one year	8	(5,840)	(12,169)
Net current assets		61,742	38,556
Total assets less current liabilities		1,474,908	131,663
Provisions for liabilities		(183,117)	-
Net assets		1,291,791	131,663
Capital and reserves
Called up share capital		10,000	10,000
Profit and loss account		1,281,791	121,663
Shareholders' funds		1,291,791	131,663

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 5 October 2026 and signed on its behalf by:
 

M A Hodge Director

WM Hodge and Sons (Garage) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fairways
Rawridge
Honiton
Devon
EX14 9QP
United Kingdom

Principal activity

The principal activity of the company is the letting of commercial and residential properties.

2	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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

WM Hodge and Sons (Garage) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Computer equipment	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

WM Hodge and Sons (Garage) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

WM Hodge and Sons (Garage) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

4	Tangible assets

	Computer equipment £	Total £
Cost or valuation
At 1 January 2025	2,184	2,184
Disposals	(2,184)	(2,184)
At 31 December 2025	-	-
Depreciation
At 1 January 2025	1,892	1,892
Eliminated on disposal	(1,892)	(1,892)
At 31 December 2025	-	-
Carrying amount
At 31 December 2025	-	-
At 31 December 2024	292	292

5	Investment properties

	2025 £
At 1 January	59,815
Fair value adjustments	1,320,185
At 31 December	1,380,000

Investment properties are held at fair value and not subject to depreciation. The investment properties were professionally valued as at 31 December 2025. The historic cost of investment properties is £59,815.

If investment properties were to be sold at their fair values, the tax due on the disposals would be approximately £183,117.

WM Hodge and Sons (Garage) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

6	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2025	33,000	33,000
Fair value adjustments	(537)	(537)
Additions	703	703
At 31 December 2025	33,166	33,166
Impairment
Carrying amount
At 31 December 2025	33,166	33,166

7

Debtors

	2025 £	2024 £
Other debtors	6,506	-
	6,506	-

WM Hodge and Sons (Garage) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	-	2
Taxation and social security	4,040	8,153
Accruals and deferred income	1,800	707
Other creditors	-	3,307
	5,840	12,169

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses. Accumulated undistributable reserves at 31 December 2025 amounted to £1,137,068.

WM Hodge and Sons (Garage) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

10	Related party transactions

Transactions with directors

2025	At 1 January 2025 £	Advances to director £	Repayments by director £	At 31 December 2025 £
Director	(3,307)	12,625	(2,812)	6,506

Directors’ loans are repayable on demand and subject to interest on overdrawn balances at the official rate.