The directors present the strategic report for the year ended 31 January 2026.

Wimbledon Carriage Company Limited is a long-established independent prestige motor dealership with a strong reputation for supplying high-quality used vehicles. Originally based in Wimbledon, the company relocated to its current premises in East Horsley in 2018, following the acquisition of a new site. This relocation has provided the company with an improved operating base, enabling it to broaden its customer reach and support continued growth.

The company operates within a highly competitive used vehicle market, where its established reputation, strong brand recognition and commitment to customer service continue to provide a competitive advantage.

During the year, turnover increased by 4.37% to £12.8 million (2025: £12.2 million), reflecting another year of positive trading performance. Gross profit margins improved to 9.09% (2025: 8.66%), principally as a result of a more selective and commercially focused approach to vehicle purchasing and stock management.

The directors have continued to maintain a strong focus on cost control and operational efficiency, taking appropriate measures to manage overheads and protect profitability in a competitive trading environment. As a result, the company achieved an operating profit of £362,036 (2025: £322,919), representing an increase of 12.11% on the previous year.

The directors consider the company's trading performance and financial position at the year end to be satisfactory. Whilst recognising the ongoing competitive pressures and wider economic uncertainties affecting the used vehicle market, the directors remain confident in the company's established business model and its ability to maintain profitability and achieve sustainable growth in the foreseeable future.

The principal risks and uncertainties facing the company continue to arise from the wider economic environment, including geopolitical instability, inflationary pressures, interest rate movements and their potential impact on consumer confidence and discretionary spending. These factors are particularly relevant to the prestige used vehicle market, where purchasing decisions can be influenced by changes in household finances and the availability and cost of vehicle finance.

The used vehicle market also remains exposed to fluctuations in vehicle supply, demand and residual values, together with changing consumer preferences, particularly as the automotive industry continues its transition towards electric and hybrid vehicles. These developments present both challenges and opportunities for the company in managing its vehicle stock and maintaining competitive margins.

The directors seek to mitigate these risks through careful stock purchasing, regular monitoring of market conditions, effective cost management and maintaining a diverse range of quality vehicles to meet changing customer demand. The company's established reputation, experienced management team and continued focus on customer service provide a sound foundation from which to respond to these uncertainties.

Financial risk management objectives and policies
The company use a number of financial instruments which include investments, cash and other various items such as trade debtors and trade creditors which arise directly from their operations.

The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below.

The significant risks arising from the company's financial instruments are price risk, credit risk, liquidity risk and interest rate risk. The directors review and agree policies for the management of these risks which are noted below. These policies are consistent with those from the previous year.

Price risk
The company is exposed to price risk as a result of it operating in the used car market and is subject to the fluctuations in used car prices. Although, in the previous two years used car prices have been affected by the slow down of new car sales resulting in consistent increases in prices across the industry. This is expected to reverse eventually with used car prices falling once availability of new cars increases and the economy stabilises. The directors manage this risk by continuously monitoring the movements in pricing and ensuring the sale prices are competitive.

Credit risk
The company's principal financial assets are fixed asset investments, cash at bank and debtors. The directors consider there to be minimal credit risk in respect of the fixed asset investments or the cash balances due to the investments being actively managed by Evelyn Partners and the cash balances being held in several reputable financial institutions.

The risk with trade debtors is mitigated by customers not ordinarily given extended credit terms, on the customers that are, the directors monitor them on an ongoing basis with doubtful debts being provided for where necessary.

Liquidity risk
The company manages its cash requirements to ensure it has sufficient liquid resources to meet its operating needs. It does this through the use of cash at bank and fixed asset investments. The company has healthy cash balances at the balance sheet date to cover its foreseeable liabilities.

Interest rate risk
Exposure in adverse movements in interest rates is not considered by the directors as a significant risk to the company. The company's liquidity position does not place reliance on borrowings so is not exposed to any risks of fluctuations in interest rates during the year.

The company will continue to promote its reputation for fair dealing with the general public. The company maintains its competitive position by using internet based web-sites to keep pricing under review. The experience and judgement developed over many years enables the company to purchase vehicles for re-sale at appropriate prices. Customer service remains a key objective. The directors are confident that the company will continue to achieve strong trading levels in future periods and will respond to any challenges that arise when required.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 January 2026.

The principal activity of the company continued to be that of the sale of used motor vehicles.

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £290,000. The directors do not recommend payment of a final dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

In accordance with the company's articles, a resolution proposing that Redwood Wales Limited T/a CJH be reappointed as auditor of the company will be put at a General Meeting.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent; and

• 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 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.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

We have audited the financial statements of Wimbledon Carriage Company Limited (the 'company') for the year ended 31 January 2026 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 January 2026 and of its profit 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'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.

Conclusions relating to going concern

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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our 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.

We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

As explained more fully in the directors' responsibilities statement, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Irregularities, including fraud, are instances of non compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain an understanding of the legal frameworks that the company operates in, focusing on those laws and regulations that have a direct effect on the Financial Statements or that have a fundamental effect on the operations of the company. The key laws and regulations we consider in this context include the UK Companies Act and relevant tax legislation.

Audit procedures performed by the engagement team to respond to the risk of irregularities and non compliance with laws and regulations, including fraud, include the following:

• discussions with management to enquire of any known instances of non compliance with laws and regulations, including fraud;

• discussions with management in respect of any actual or potential litigation claims;

• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

• testing the appropriateness of journal entries and other adjustments to address the risk of fraud through management override of controls;

• review of the financial statements disclosures and testing to support documentation to assess compliance with relevant laws and regulations; and

• evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

There are inherent limitations in the audit procedures which means we are less likely to become aware of instances of non compliance with laws and regulations that are closely related to events and transactions reflected in the financial statements. The risk of not detecting material misstatements due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 a Report of the auditors 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, this report, or for the opinions we have formed.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

Wimbledon Carriage Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Guildford Road, East Horsley, Leatherhead, UK, KT24 6AA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Sales of goods

The company sells used cars in the prestige market. Sales of vehicles are recognised when the customer has collected the vehicle from the company or the vehicle has been delivered to the customer and no other significant obligation remains unfulfilled that may affect the customer's acceptance of the vehicle.

Rendering of services

The company also provides routine vehicle servicing, maintenance and repairs. The company recognises revenue once the service or repair has been completed and the vehicle has been delivered back to the customer.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments are measured at fair value with changes recognised in profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

Motor vehicles and part stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

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.

Stock

Stocks are valued at the lower of cost and net realisable value. Net realisable value includes, where necessary, provisions for slow moving and obsolete stocks. The market value of motor vehicles varies constantly and therefore the company attempts to mitigate any risk by frequently using guidance from independent industry valuation tools. Calculation of these provisions requires judgements to be made, which include forecast customer demand, the economic environment and guidance from independent industry valuation tools.

The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the United Kingdom.

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2025 - 3).

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

Listed investments are included at their revalued amounts. The valuation is at market value as provided by the fund investment managers Evelyn Partners. The historical cost of the investment is £2,000,000 (2025 - £2,000,000).

A provision of £124,975 (2025 - £115,819) was made against impairment of stock due to slow moving stock.

The following are the major deferred tax liabilities and assets recognised by the company:

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the 2025 year Ordinary shares of £1 each were subdivided into 1p shares and 'A', 'B' and 'C' classes were designated.

Included within profit and loss reserves are non-distributable profits, as set out below:

The loan balances are included within debtors. The company has charged interest of 3.75% of the actual amounts due to the company during the year. The total interest charge this year was £2,939 (2025 - £2,841).

The directors' loans are expected to be repaid within 9 months of the year end.