| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| GERMAN AUTOMOTIVE LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| GERMAN AUTOMOTIVE LIMITED |
| GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| GERMAN AUTOMOTIVE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| 10 Stadium Business Court |
| Millennium Way |
| Pride Park |
| Derby |
| DE24 8HP |
| GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net (liabilities)/assets | ( |
) |
| Capital and reserves |
| Called up share capital | 9 |
| Revaluation reserve | 10 |
| Retained earnings | 10 | ( |
) | ( |
) |
| Shareholders' funds | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| German Automotive Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| 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. |
| 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. |
| The directors have considered the fair value of freehold property at the reporting date to be materially in line |
| with fair value. This has been calculated based on historic purchase price and review of trends in the property market. No professional valuation was obtained during the year, the methods and significant assumptions applied in determining the fair value of the investment property include consideration into; property market |
| trends local to the property, recent property sales local to the investment property, rental yield of the property |
| and the condition of the property. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold land | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
| from those in which they are recognised in financial statements. Deferred tax is measured using tax rates |
| and laws that have been enacted or substantively enacted by the year end and that are expected |
| to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
| they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| land | machinery | fittings | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 January 2024 |
| and 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| Included within the net book value of £976,671 is NIL (2023: £36,480) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to NIL (2023: £760). |
| If freehold property had not been revalued it would have been included at the following historic cost: |
| 2024 |
| Cost | 480,487 |
| Additions | - |
| Depreciation at 1 January 2023 | (97,555 | ) |
| Charge for year | (9,265 | ) |
| Net historical cost value | 373,667 |
| GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Social security and other taxes |
| VAT | 35,893 | 35,825 |
| Other creditors |
| Accruals and deferred income | 3,500 | 3,500 |
| Wages | 3,024 | 19,701 |
| Directors' loan accounts | 366,551 | 199,196 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - due between 2-5 years |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 800 | 800 |
| GERMAN AUTOMOTIVE LIMITED (REGISTERED NUMBER: 05957492) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 10. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2024 | ( |
) | 242,029 |
| Deficit for the year | ( |
) | ( |
) |
| At 31 December 2024 | ( |
) | (23,729 | ) |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| 12. | RELATED PARTY DISCLOSURES |
| The controlling party is Mr I Essex. |