REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
HAYWARDS GIRTON GARAGE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
HAYWARDS GIRTON GARAGE LIMITED |
HAYWARDS GIRTON GARAGE LIMITED (REGISTERED NUMBER: 00705690) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HAYWARDS GIRTON GARAGE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 Jesus Lane |
Cambridge |
Cambridgeshire |
CB5 8BA |
HAYWARDS GIRTON GARAGE LIMITED (REGISTERED NUMBER: 00705690) |
BALANCE SHEET |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Capital contribution reserve |
Property revaluation reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
HAYWARDS GIRTON GARAGE LIMITED (REGISTERED NUMBER: 00705690) |
BALANCE SHEET - continued |
31 DECEMBER 2022 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HAYWARDS GIRTON GARAGE LIMITED (REGISTERED NUMBER: 00705690) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Haywards Girton Garage Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Revenue is measured at the fair value of the consideration receivable. |
Revenue from the sale of goods is recognised when goods are delivered and legal title has passed. Revenue from services is recognised when those services are performed. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business, is initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill is amortised evenly over its useful life of 5 years. |
Tangible fixed assets |
Land and buildings used in the company's own activities are stated at their revalued amounts. The revalued amounts equate to the market value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not differ materially from using the market value at the balance sheet date. Any revaluation increase or decrease is credited to the property revaluation reserve. |
Other tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation is provided at the following annual rates in order to write off the cost of fixed assets, less their estimated residual value, over their estimated useful life:- |
Buildings | 2% on cost |
Plant and machinery | 33% on cost |
Motor vehicles | 15% on cost |
Computer equipment | 33% on cost |
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
HAYWARDS GIRTON GARAGE LIMITED (REGISTERED NUMBER: 00705690) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
3. | ACCOUNTING POLICIES - continued |
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 directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the immediate future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
AMORTISATION |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
6. | TANGIBLE FIXED ASSETS |
Freehold |
land and | Plant and | Motor | Computer |
buildings | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2022 |
Revaluations |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
HAYWARDS GIRTON GARAGE LIMITED (REGISTERED NUMBER: 00705690) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
6. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 December 2022 is represented by: |
Freehold |
land and | Plant and | Motor | Computer |
buildings | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 2022 | 650,000 | - | - | - | 650,000 |
Cost | - | 92,222 | 3,825 | 9,738 | 105,785 |
650,000 | 92,222 | 3,825 | 9,738 | 755,785 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2022 | 2021 |
£ | £ |
Cost | 12,251 | 12,251 |
Aggregate depreciation | 1,815 | 1,815 |
Value of land in freehold land and buildings | 650,000 | 500,000 |
Freehold land and buildings were valued on a market value basis on 31 December 2022 by Cheffins . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Trade creditors |
Social security and other taxes |
Other creditors |
Director's loan account | 104,058 | 93,182 |
The director's current account and director's loan account are both repayable on demand and interest free. |
HAYWARDS GIRTON GARAGE LIMITED (REGISTERED NUMBER: 00705690) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Other loans |
The other loan relates to an amount due to a third party. This amount is unsecured, and is repayable after more than five years. |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank overdrafts |
The bank borrowings are secured by a debenture in favour of Lloyds, created on 3 July 2012. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 9,000 | 9,000 |
12. | OTHER FINANCIAL COMMITMENTS |
At 31 December 2022, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £0 (2021 £424). |