Registration number: 05032465

South Devon Auto Repairs Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 9

South Devon Auto Repairs Limited

Company Information

Director

Mr Ian Legg

Company secretary

Mrs Karen Legg

Registered office

True Street House True Street Berry Pomeroy Totnes Devon TQ9 6LE

Accountants

Neil Wilson & Co Chartered Accountants Bank Chambers 260-262 Union Street Torquay Devon TQ2 5QU

South Devon Auto Repairs Limited

(Registration number: 05032465)
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	240,241	232,829
Current assets
Stocks	5	11,000	11,000
Debtors	6	122,831	118,254
Cash at bank and in hand		148,166	106,214
		281,997	235,468
Creditors: Amounts falling due within one year	7	(90,932)	(92,535)
Net current assets		191,065	142,933
Total assets less current liabilities		431,306	375,762
Provisions for liabilities		(115,611)	(83,881)
Net assets		315,695	291,881
Capital and reserves
Called up share capital	8	100	100
Retained earnings		315,595	291,781
Shareholders' funds		315,695	291,881

For the financial year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 July 2026
 

......................................... Mr Ian Legg Director

South Devon Auto Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

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:
True Street House
True Street
Berry Pomeroy
Totnes
Devon
TQ9 6LE
England

The principal place of business is:
Brooklands Garage
Exeter Road
South Brent
Devon
TQ10 9LN

These financial statements were authorised for issue by the director on 23 July 2026.

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.

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.

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.

South Devon Auto Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

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.

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
Plant and machinery	25% reducing balance
Motor vehicles	25% reducing balance
Office equipment	25% reducing balance
Fixtures and fittings	25% reducing balance
Long leasehold	25% reducing balance

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.

South Devon Auto Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) 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.

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

South Devon Auto Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2025 - 6).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £
Cost or valuation
At 1 February 2025	176,723	14,671	79,459	101,023
Additions	17,097	2,228	800	14,919
At 31 January 2026	193,820	16,899	80,259	115,942
Depreciation
At 1 February 2025	6,589	14,399	57,723	60,336
Charge for the year	7,471	625	5,634	13,902
At 31 January 2026	14,060	15,024	63,357	74,238
Carrying amount
At 31 January 2026	179,760	1,875	16,902	41,704
At 31 January 2025	170,134	272	21,736	40,687

South Devon Auto Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

	Total £
Cost or valuation
At 1 February 2025	371,876
Additions	35,044
At 31 January 2026	406,920
Depreciation
At 1 February 2025	139,047
Charge for the year	27,632
At 31 January 2026	166,679
Carrying amount
At 31 January 2026	240,241
At 31 January 2025	232,829

Included within the net book value of land and buildings above is £179,760 (2025 - £170,134) in respect of long leasehold land and buildings.
 

5

Stocks

	2026 £	2025 £
Other inventories	11,000	11,000

6

Debtors

Current	Note	2026 £	2025 £
Trade debtors		7,796	5,793
Amounts owed by related parties	11	106,535	97,905
Other debtors		8,500	14,556
		122,831	118,254

South Devon Auto Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	14,345	24,471
Trade creditors		36,517	36,821
Taxation and social security		24,070	15,326
Accruals and deferred income		2,400	2,445
Other creditors		13,600	13,472
		90,932	92,535

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

9	Loans and borrowings

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	14,345	24,471

10

Dividends

		2026		2025
		£		£
Interim dividend of £290.00 (2025 - £135.00) per ordinary share		29,000		28,775

South Devon Auto Repairs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

11	Related party transactions

Transactions with the director

2026	At 1 February 2025 £	Advances to director £	Repayments by director £	At 31 January 2026 £
Mr Ian Legg
Director loan	97,905	110,790	(98,000)	110,695

2025	At 1 February 2024 £	Advances to director £	Repayments by director £	At 31 January 2025 £
Mr Ian Legg
Director loan	83,955	129,225	(115,275)	97,905

Director's remuneration

The director's remuneration for the year was as follows:

	2026 £	2025 £
Remuneration	12,480	12,720
Contributions paid to money purchase schemes	35,375	25,890
	47,855	38,610

Dividends paid to the director

		2026 £		2025 £
Mr Ian Legg
Interim dividend paid		29,000		13,500