Castle Garage (Staffs) Limited 11100502 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is maintenance, repair and sale of motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true 11100502 2022-04-01 2023-03-31 11100502 2023-03-31 11100502 core:RetainedEarningsAccumulatedLosses 2023-03-31 11100502 core:ShareCapital 2023-03-31 11100502 core:CurrentFinancialInstruments 2023-03-31 11100502 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11100502 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 11100502 core:FurnitureFittings 2023-03-31 11100502 core:MotorVehicles 2023-03-31 11100502 core:OfficeEquipment 2023-03-31 11100502 core:OtherPropertyPlantEquipment 2023-03-31 11100502 bus:SmallEntities 2022-04-01 2023-03-31 11100502 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11100502 bus:FullAccounts 2022-04-01 2023-03-31 11100502 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 11100502 bus:RegisteredOffice 2022-04-01 2023-03-31 11100502 bus:Director1 2022-04-01 2023-03-31 11100502 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11100502 core:FurnitureFittings 2022-04-01 2023-03-31 11100502 core:MotorVehicles 2022-04-01 2023-03-31 11100502 core:OfficeEquipment 2022-04-01 2023-03-31 11100502 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 11100502 core:PlantMachinery 2022-04-01 2023-03-31 11100502 countries:EnglandWales 2022-04-01 2023-03-31 11100502 2022-03-31 11100502 core:FurnitureFittings 2022-03-31 11100502 core:MotorVehicles 2022-03-31 11100502 core:OfficeEquipment 2022-03-31 11100502 core:OtherPropertyPlantEquipment 2022-03-31 11100502 2021-04-01 2022-03-31 11100502 2022-03-31 11100502 core:RetainedEarningsAccumulatedLosses 2022-03-31 11100502 core:ShareCapital 2022-03-31 11100502 core:CurrentFinancialInstruments 2022-03-31 11100502 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 11100502 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 11100502 core:FurnitureFittings 2022-03-31 11100502 core:MotorVehicles 2022-03-31 11100502 core:OfficeEquipment 2022-03-31 11100502 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 11100502

Castle Garage (Staffs) Limited
Unaudited Financial Statements
for the Year Ended 31 March 2023

Castle Garage (Staffs) Limited

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 8

Castle Garage (Staffs) Limited

(Registration number: 11100502)
Balance Sheet as at 31 March 2023

| Note | 2023 £ | 2022 £
Fixed assets |  |  |
Tangible assets | 4 | 9,699 | 8,586
Current assets |  |  |
Stocks | 5 | 3,921 | 4,005
Debtors | 6 | 18,211 | 24,911
Cash at bank and in hand |  | 60,756 | 73,306
|  | 82,888 | 102,222
Creditors: Amounts falling due within one year | 7 | (63,852) | (63,166)
Net current assets |  | 19,036 | 39,056
Total assets less current liabilities |  | 28,735 | 47,642
Creditors: Amounts falling due after more than one year | 7 | (21,250) | (26,250)
Provisions for liabilities |  | (1,843) | (1,631)
Net assets |  | 5,642 | 19,761
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 5,542 | 19,661
Shareholders' funds |  | 5,642 | 19,761

Castle Garage (Staffs) Limited

(Registration number: 11100502)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 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 accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 October 2023

......................................... Mr Mark Turner Director

Castle Garage (Staffs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
145 Liverpool Road
Newcastle-Under-Lyme
Staffordshire
ST5 9HF
UK

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

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 revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the maintenance, repair and sale of motor vehicles. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Castle Garage (Staffs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures and fittings | 20% Reducing balance
Plant and machinery | 20% Reducing balance
Office equipment | 25% Straight line
Motor vehicles | 20% Reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Castle Garage (Staffs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 7).

Castle Garage (Staffs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4 | Tangible assets

| Fixtures and fittings £ | Office equipment £ | Motor vehicles £ | Plant and machinery £ | Total £
Cost or valuation
At 1 April 2022 | 2,618 | 3,626 | 500 | 10,885 | 17,629
Additions | - | - | - | 3,818 | 3,818
At 31 March 2023 | 2,618 | 3,626 | 500 | 14,703 | 21,447
Depreciation
At 1 April 2022 | 1,545 | 2,686 | 191 | 4,621 | 9,043
Charge for the year | 214 | 540 | 62 | 1,889 | 2,705
At 31 March 2023 | 1,759 | 3,226 | 253 | 6,510 | 11,748
Carrying amount
At 31 March 2023 | 859 | 400 | 247 | 8,193 | 9,699
At 31 March 2022 | 1,073 | 940 | 309 | 6,264 | 8,586

Castle Garage (Staffs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5 | Stocks

| 2023 £ | 2022 £
Other inventories | 3,921 | 4,005

6 | Debtors

Current | 2023 £ | 2022 £
Trade debtors | 9,200 | 17,909
Other debtors | 9,011 | 7,002
| 18,211 | 24,911

Castle Garage (Staffs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2023 £ | 2022 £
Due within one year |  |  |
Loans and borrowings |  | 5,000 | 5,000
Trade creditors |  | 44,065 | 43,108
Taxation and social security |  | 12,137 | 13,143
Other creditors |  | 2,650 | 1,915
|  | 63,852 | 63,166

| 2023 £ | 2022 £
Current loans and borrowings
Bank borrowings | 5,000 | 5,000

Creditors: amounts falling due after more than one year

| Note | 2023 £ | 2022 £
Due after one year |  |  |
Loans and borrowings |  | 11,250 | 16,250
Other non-current financial liabilities |  | 10,000 | 10,000
|  | 21,250 | 26,250

8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £42,900 (2022 - £77,996).