Company Registration No. 10976380 (England and Wales)
Flanshaw Garage Limited
Unaudited accounts
for the year ended 30 September 2021
Flanshaw Garage Limited
Unaudited accounts
Contents
Flanshaw Garage Limited
Company Information
for the year ended 30 September 2021
Directors
Paul T Sanderson
Karen L Sanderson
Company Number
10976380 (England and Wales)
Registered Office
Unit 25 Flanshaw Works
Flanshaw Lane
Wakefield
West Yorkshire
WF2 9JF
England
Flanshaw Garage Limited
Statement of financial position
as at 30 September 2021
Tangible assets
3,130
4,173
Cash at bank and in hand
3,095
1,983
Creditors: amounts falling due within one year
(23,717)
(14,826)
Net current liabilities
(12,094)
(11,046)
Total assets less current liabilities
(8,964)
(6,873)
Creditors: amounts falling due after more than one year
(27,133)
-
Net liabilities
(36,097)
(6,873)
Called up share capital
2
2
Profit and loss account
(36,099)
(6,875)
Shareholders' funds
(36,097)
(6,873)
For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by
Paul T Sanderson
Director
Company Registration No. 10976380
Flanshaw Garage Limited
Notes to the Accounts
for the year ended 30 September 2021
Flanshaw Garage Limited is a private company, limited by shares, registered in England and Wales, registration number 10976380. The registered office is Unit 25 Flanshaw Works, Flanshaw Lane, Wakefield, West Yorkshire, WF2 9JF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
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.
Flanshaw Garage Limited
Notes to the Accounts
for the year ended 30 September 2021
4
Tangible fixed assets
Plant & machinery
At 30 September 2021
5,620
At 30 September 2021
2,490
At 30 September 2021
3,130
At 30 September 2020
4,173
5
Debtors: amounts falling due within one year
2021
2020
Deferred tax asset
8,146
1,443
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
7,400
-
Trade creditors
5,488
13,331
Taxes and social security
545
545
Loans from directors
7,902
950
Bank loans are unsecured, repayable in instalments and interest is charged at 2.5%.
7
Creditors: amounts falling due after more than one year
2021
2020
Bank loans are unsecured, repayable by instalments and interest is charged at 2.5%.
8
Transactions with related parties
Included in 'Creditors due within one year' is an amount of £7,902 (2020: £950) due to the director. The amount is unsecured, repayable on demand and no interest is being charged.
Flanshaw Garage Limited
Notes to the Accounts
for the year ended 30 September 2021
9
Average number of employees
During the year the average number of employees was 4 (2020: 4).