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REGISTERED NUMBER: 10499007 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CENTRAL GARAGE MOT AND REPAIR CENTRE
LTD.

CENTRAL GARAGE MOT AND REPAIR CENTRE
LTD. (REGISTERED NUMBER: 10499007)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CENTRAL GARAGE MOT AND REPAIR CENTRE
LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: T M Reynolds-Duffy





REGISTERED OFFICE: Central Garage
Four Lanes
Redruth
Cornwall
TR16 6QW





REGISTERED NUMBER: 10499007 (England and Wales)





ACCOUNTANT: Catherine Bennett Ltd
Chartered Accountant
Wheal Harmony House
Solomon Road
Redruth
Cornwall
TR15 1FD

CENTRAL GARAGE MOT AND REPAIR CENTRE
LTD. (REGISTERED NUMBER: 10499007)

BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,373 12,903
Tangible assets 5 9,976 6,002
20,349 18,905

CURRENT ASSETS
Stocks - 169
Debtors 6 1,410 3,084
Cash at bank and in hand 1,550 2,955
2,960 6,208
CREDITORS
Amounts falling due within one year 7 40,330 33,765
NET CURRENT LIABILITIES (37,370 ) (27,557 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(17,021

)

(8,652

)

CREDITORS
Amounts falling due after more than one
year

8

45,485

49,275
NET LIABILITIES (62,506 ) (57,927 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (62,507 ) (57,928 )
(62,506 ) (57,927 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CENTRAL GARAGE MOT AND REPAIR CENTRE
LTD. (REGISTERED NUMBER: 10499007)

BALANCE SHEET - continued
31 MARCH 2023


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 director and authorised for issue on 9 October 2023 and were signed by:





T M Reynolds-Duffy - Director


CENTRAL GARAGE MOT AND REPAIR CENTRE
LTD. (REGISTERED NUMBER: 10499007)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Central Garage MOT and Repair Centre Ltd. 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 2016, is being amortised evenly over its estimated useful life of ten 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 - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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.

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.

CENTRAL GARAGE MOT AND REPAIR CENTRE
LTD. (REGISTERED NUMBER: 10499007)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

Going concern
The company has net liabilities and is reliant upon the continued support of its director. The director believes the going concern basis of preparing the financial statements to be appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 25,300
AMORTISATION
At 1 April 2022 12,397
Charge for year 2,530
At 31 March 2023 14,927
NET BOOK VALUE
At 31 March 2023 10,373
At 31 March 2022 12,903

CENTRAL GARAGE MOT AND REPAIR CENTRE
LTD. (REGISTERED NUMBER: 10499007)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 22,680 500 2,761 25,941
Additions 1,806 6,999 730 9,535
Disposals - (500 ) - (500 )
At 31 March 2023 24,486 6,999 3,491 34,976
DEPRECIATION
At 1 April 2022 17,792 500 1,647 19,939
Charge for year 3,009 1,400 1,152 5,561
Eliminated on disposal - (500 ) - (500 )
At 31 March 2023 20,801 1,400 2,799 25,000
NET BOOK VALUE
At 31 March 2023 3,685 5,599 692 9,976
At 31 March 2022 4,888 - 1,114 6,002

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 442 306
Other debtors 968 2,778
1,410 3,084

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 21,425 6,663
Trade creditors 12,681 13,019
Taxation and social security 3,083 1,594
Other creditors 3,141 12,489
40,330 33,765

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans 21,799 26,030
Other creditors 23,686 23,245
45,485 49,275

9. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £162 (2022 - £833).

CENTRAL GARAGE MOT AND REPAIR CENTRE
LTD. (REGISTERED NUMBER: 10499007)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31/3/23 31/3/22
£    £   
T M Reynolds-Duffy
Balance outstanding at start of year 814 (5,205 )
Amounts advanced 1,275 7,712
Amounts repaid (2,002 ) (1,693 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 87 814