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REGISTERED NUMBER: 08103069 (England and Wales)















TOWN GARAGE (BRACKLEY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






TOWN GARAGE (BRACKLEY) LIMITED (REGISTERED NUMBER: 08103069)






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


TOWN GARAGE (BRACKLEY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr D S Mann





REGISTERED OFFICE: 15 High Street
Brackley
Northamptonshire
NN13 7DH





REGISTERED NUMBER: 08103069 (England and Wales)





ACCOUNTANTS: Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH

TOWN GARAGE (BRACKLEY) LIMITED (REGISTERED NUMBER: 08103069)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,134 24,323
Tangible assets 5 17,190 19,066
32,324 43,389

CURRENT ASSETS
Stocks 3,400 3,200
Debtors 6 49,394 36,072
Prepayments and accrued income - 7,940
Cash at bank 40,735 25,743
93,529 72,955
CREDITORS
Amounts falling due within one year 7 66,127 73,341
NET CURRENT ASSETS/(LIABILITIES) 27,402 (386 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,726

43,003

CREDITORS
Amounts falling due after more than one
year

8

49,294

31,822
NET ASSETS 10,432 11,181

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 8,103 10,804
Retained earnings 2,229 277
SHAREHOLDERS' FUNDS 10,432 11,181

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.

TOWN GARAGE (BRACKLEY) LIMITED (REGISTERED NUMBER: 08103069)

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 19 September 2023 and were signed by:





Mr D S Mann - Director


TOWN GARAGE (BRACKLEY) LIMITED (REGISTERED NUMBER: 08103069)

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

1. STATUTORY INFORMATION

Town Garage (Brackley) 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.

The presentation currency is rounded to the nearest pound sterling (£).

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 represents net invoiced sales of services, MOT and parts, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty 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 - between 15% and 25% reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 taxation
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.

TOWN GARAGE (BRACKLEY) LIMITED (REGISTERED NUMBER: 08103069)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 45,947
AMORTISATION
At 1 April 2022 21,624
Charge for year 9,189
At 31 March 2023 30,813
NET BOOK VALUE
At 31 March 2023 15,134
At 31 March 2022 24,323

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2022 2,857 20,907 250
Additions - - -
At 31 March 2023 2,857 20,907 250
DEPRECIATION
At 1 April 2022 2,721 11,878 184
Charge for year 136 903 13
At 31 March 2023 2,857 12,781 197
NET BOOK VALUE
At 31 March 2023 - 8,126 53
At 31 March 2022 136 9,029 66

TOWN GARAGE (BRACKLEY) LIMITED (REGISTERED NUMBER: 08103069)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 24,772 1,218 50,004
Additions - 1,343 1,343
At 31 March 2023 24,772 2,561 51,347
DEPRECIATION
At 1 April 2022 15,269 886 30,938
Charge for year 1,901 266 3,219
At 31 March 2023 17,170 1,152 34,157
NET BOOK VALUE
At 31 March 2023 7,602 1,409 17,190
At 31 March 2022 9,503 332 19,066

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,098 3,526
Other debtors 42,296 32,546
49,394 36,072

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,999 12,058
Other loans 554 18,227
Trade creditors 32,045 21,017
Tax 6,448 6,541
Social security and other taxes 4,744 -
VAT 7,807 7,029
Other creditors 1,514 3,070
Directors' current accounts 3 3,386
Accrued expenses 2,013 2,013
66,127 73,341

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Loans - 2-5 years 49,294 31,822

TOWN GARAGE (BRACKLEY) LIMITED (REGISTERED NUMBER: 08103069)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

10. RESERVES
Revaluation
reserve
£   
At 1 April 2022 10,804
Amortisation (2,701 )

At 31 March 2023 8,103

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D S Mann.