Classic Car Restoration and Servicing Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04177218

Classic Car Restoration and Servicing Limited

Filleted Unaudited Financial Statements

31 March 2025

Classic Car Restoration and Servicing Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		208,690	241,972

Current assets

Stocks		1,853,736	1,836,264
Debtors	6	232,683	139,866
Cash at bank and in hand		1,588	4,594
		------------	------------
		2,088,007	1,980,724

Creditors: amounts falling due within one year	7	2,285,002		2,197,174
		------------		------------
Net current liabilities			196,995	216,450
			---------	---------
Total assets less current liabilities			11,695	25,522

Creditors: amounts falling due after more than one year	8		6,976	13,415

Provisions

Taxation including deferred tax	2,724	6,475
	--------	--------
Net assets	1,995	5,632
	--------	--------

Classic Car Restoration and Servicing Limited

Statement of Financial Position (continued)

31 March 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	9	100	100
Capital redemption reserve		4	4
Profit and loss account		1,891	5,528
		-------	-------
Shareholders funds		1,995	5,632
		-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 11 November 2025 , and are signed on behalf of the board by:

Mr T Butcher
Director

Company registration number: 04177218

Classic Car Restoration and Servicing Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lovelace Works, High Street, Ripley, Woking, Surrey, GU23 6AF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	Over the period of the leases
Plant & Machinery	-	15% straight line
Fixtures & Fittings	-	20% straight line
Motor Vehicles	-	25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Work in progress Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Hire purchase contracts

Assets held under hire purchase contracts are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to the workplace pension scheme are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 14 (2024: 13 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024	404,123	30,991	30,194	70,417	535,725
Additions	2,227	845	393	–	3,465
Disposals	–	( 1,116)	( 3,656)	–	( 4,772)
	---------	--------	--------	--------	---------
At 31 March 2025	406,350	30,720	26,931	70,417	534,418
	---------	--------	--------	--------	---------
Depreciation
At 1 April 2024	190,667	23,336	26,851	52,899	293,753
Charge for the year	23,799	3,294	1,569	8,085	36,747
Disposals	–	( 1,116)	( 3,656)	–	( 4,772)
	---------	--------	--------	--------	---------
At 31 March 2025	214,466	25,514	24,764	60,984	325,728
	---------	--------	--------	--------	---------
Carrying amount
At 31 March 2025	191,884	5,206	2,167	9,433	208,690
	---------	--------	--------	--------	---------
At 31 March 2024	213,456	7,655	3,343	17,518	241,972
	---------	--------	--------	--------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	187,032	101,269
Other debtors	45,651	38,597
	---------	---------
	232,683	139,866
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	94,822	120,090
Trade creditors	146,561	138,026
Corporation tax	22,468	34,241
Social security and other taxes	17,473	17,864
Other creditors	2,003,678	1,886,953
	------------	------------
	2,285,002	2,197,174
	------------	------------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	6,976	13,415
	-------	--------

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
A Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr T Butcher	–	–	–
	----	----	----

	2024
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr T Butcher	5,563	( 5,563)	–
	-------	-------	----

11. Related party transactions

The company was under the control of Mr T Butcher , the sole director and shareholder, during the year.