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REGISTERED NUMBER: 06850010 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

GOLDENS VEHICLE REPAIR CENTRE LIMITED

GOLDENS VEHICLE REPAIR CENTRE LIMITED (Registered number: 06850010)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOLDENS VEHICLE REPAIR CENTRE LIMITED

Company Information
for the Year Ended 31 March 2022







DIRECTORS: P Golden
Ms T D Munnik





SECRETARY:





REGISTERED OFFICE: The Gatehouse
Wick Drive
New Milton
Hampshire
BH25 6SJ





REGISTERED NUMBER: 06850010 (England and Wales)





ACCOUNTANTS: Richard Baker & Co.
The Gatehouse
Wick Drive
New Milton
Hampshire
BH25 6SJ

GOLDENS VEHICLE REPAIR CENTRE LIMITED (Registered number: 06850010)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 33,000 36,000
Tangible assets 5 172,032 154,062
205,032 190,062

CURRENT ASSETS
Stocks 4,250 3,810
Debtors 6 25,437 11,854
Cash at bank and in hand 219,725 267,055
249,412 282,719
CREDITORS
Amounts falling due within one year 7 168,879 257,672
NET CURRENT ASSETS 80,533 25,047
TOTAL ASSETS LESS CURRENT
LIABILITIES

285,565

215,109

CREDITORS
Amounts falling due after more than one year 8 (42,059 ) (50,000 )

PROVISIONS FOR LIABILITIES (4,302 ) (3,660 )
NET ASSETS 239,204 161,449

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 239,104 161,349
SHAREHOLDERS' FUNDS 239,204 161,449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

GOLDENS VEHICLE REPAIR CENTRE LIMITED (Registered number: 06850010)

Balance Sheet - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2022 and were signed on its behalf by:





P Golden - Director


GOLDENS VEHICLE REPAIR CENTRE LIMITED (Registered number: 06850010)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

GOLDENS VEHICLE REPAIR CENTRE LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

Acquired goodwill is written off in equal annual instalments over it's estimated useful economic life of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery -20% reducing balance

Fixtures, fittings and equipment -15% reducing balance

Motor vehicles - 25% reducing balance

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.


GOLDENS VEHICLE REPAIR CENTRE LIMITED (Registered number: 06850010)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 60,400
AMORTISATION
At 1 April 2021 24,400
Charge for year 3,000
At 31 March 2022 27,400
NET BOOK VALUE
At 31 March 2022 33,000
At 31 March 2021 36,000

GOLDENS VEHICLE REPAIR CENTRE LIMITED (Registered number: 06850010)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2021 122,649 93,994 4,319 28,870 249,832
Additions - 33,505 1,375 1,800 36,680
Disposals - (813 ) (2,937 ) (5,200 ) (8,950 )
At 31 March 2022 122,649 126,686 2,757 25,470 277,562
DEPRECIATION
At 1 April 2021 - 75,608 2,279 17,883 95,770
Charge for year - 10,378 373 2,190 12,941
Eliminated on disposal - - (2,010 ) (1,171 ) (3,181 )
At 31 March 2022 - 85,986 642 18,902 105,530
NET BOOK VALUE
At 31 March 2022 122,649 40,700 2,115 6,568 172,032
At 31 March 2021 122,649 18,386 2,040 10,987 154,062

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 1,705 2,161
Other debtors 23,732 9,693
25,437 11,854

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 49,918 39,486
Taxation and social security 34,192 47,754
Other creditors 84,769 170,432
168,879 257,672

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.22 31.3.21
£    £   
Other creditors 42,059 50,000