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REGISTERED NUMBER: 01181610 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

SURREY GARAGE LTD

SURREY GARAGE LTD (REGISTERED NUMBER: 01181610)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SURREY GARAGE LTD

Company Information
for the Year Ended 31 March 2023







DIRECTORS: L Softley
G Softley





REGISTERED OFFICE: The Granary
Brewer Street
Bletchingley
Surrey
RH1 4QP





REGISTERED NUMBER: 01181610 (England and Wales)






SURREY GARAGE LTD (REGISTERED NUMBER: 01181610)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 108,005 131,005
Tangible assets 5 19,600 16,714
127,605 147,719

CURRENT ASSETS
Stocks 5,466 2,037
Debtors 6 8,207 10,015
Cash at bank and in hand 117,858 120,134
131,531 132,186
CREDITORS
Amounts falling due within one year 7 104,459 111,005
NET CURRENT ASSETS 27,072 21,181
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,677

168,900

PROVISIONS FOR LIABILITIES 1,403 720
NET ASSETS 153,274 168,180

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 153,174 168,080
SHAREHOLDERS' FUNDS 153,274 168,180

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 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.

SURREY GARAGE LTD (REGISTERED NUMBER: 01181610)

Statement of Financial Position - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





L Softley - Director


SURREY GARAGE LTD (REGISTERED NUMBER: 01181610)

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


1. STATUTORY INFORMATION

Surrey Garage 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 2019, 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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

SURREY GARAGE LTD (REGISTERED NUMBER: 01181610)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Depreciation and diminution in value of assets
Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value, over their expected useful lives on the following bases:

Plant and machinery 25 % straight line
Motorvehicles 25 % straight line
Breakdown vehicles 25 % reducing balance

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 223,000 5 223,005
AMORTISATION
At 1 April 2022 92,000 - 92,000
Charge for year 23,000 - 23,000
At 31 March 2023 115,000 - 115,000
NET BOOK VALUE
At 31 March 2023 108,000 5 108,005
At 31 March 2022 131,000 5 131,005

SURREY GARAGE LTD (REGISTERED NUMBER: 01181610)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 183,079
Additions 8,677
At 31 March 2023 191,756
DEPRECIATION
At 1 April 2022 166,365
Charge for year 5,791
At 31 March 2023 172,156
NET BOOK VALUE
At 31 March 2023 19,600
At 31 March 2022 16,714

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 2,669 6,532
Other debtors 5,538 3,483
8,207 10,015

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 9,336 14,629
Taxation and social security 23,986 25,691
Other creditors 71,137 70,685
104,459 111,005