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REGISTERED NUMBER: 04258741 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

PICCADILLY GARAGE LTD

PICCADILLY GARAGE LTD (REGISTERED NUMBER: 04258741)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

PICCADILLY GARAGE LTD

COMPANY INFORMATION
for the Year Ended 31 August 2023







DIRECTORS: Mr J E Greenan
Mrs G Greenan





SECRETARY: Mrs G Greenan





REGISTERED OFFICE: 95 King Street
Lancaster
Lancashire
LA1 1RH





REGISTERED NUMBER: 04258741 (England and Wales)





ACCOUNTANTS: Taylor, Robertson & Willett Ltd
95 King Street
Lancaster
Lancashire
LA1 1RH

PICCADILLY GARAGE LTD (REGISTERED NUMBER: 04258741)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 418,729 393,142
Investments 6 1 1
418,730 393,143

CURRENT ASSETS
Stocks 900 900
Debtors 7 981 1,313
Cash at bank and in hand 17,326 9,599
19,207 11,812
CREDITORS
Amounts falling due within one year 8 24,400 16,635
NET CURRENT LIABILITIES (5,193 ) (4,823 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

413,537

388,320

CREDITORS
Amounts falling due after more than one year 9 - 10,000
NET ASSETS 413,537 378,320

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 413,437 378,220
SHAREHOLDERS' FUNDS 413,537 378,320

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

PICCADILLY GARAGE LTD (REGISTERED NUMBER: 04258741)

BALANCE SHEET - continued
31 August 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 15 November 2023 and were signed on its behalf by:





Mr J E Greenan - Director


PICCADILLY GARAGE LTD (REGISTERED NUMBER: 04258741)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Piccadilly 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 has been fully amortised.

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.
Freehold property - not provided
Plant and machinery - at variable rates on reducing balance
Motor vehicles - 25% on reducing balance

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 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.

PICCADILLY GARAGE LTD (REGISTERED NUMBER: 04258741)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 12,500
AMORTISATION
At 1 September 2022
and 31 August 2023 12,500
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 September 2022 385,350 43,023 300 428,673
Additions 25,886 1,165 - 27,051
Disposals - (297 ) - (297 )
At 31 August 2023 411,236 43,891 300 455,427
DEPRECIATION
At 1 September 2022 - 35,512 19 35,531
Charge for year - 1,294 70 1,364
Eliminated on disposal - (197 ) - (197 )
At 31 August 2023 - 36,609 89 36,698
NET BOOK VALUE
At 31 August 2023 411,236 7,282 211 418,729
At 31 August 2022 385,350 7,511 281 393,142

PICCADILLY GARAGE LTD (REGISTERED NUMBER: 04258741)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2022
and 31 August 2023 1
NET BOOK VALUE
At 31 August 2023 1
At 31 August 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 415 967
Other debtors 566 346
981 1,313

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,403 3,500
Taxation and social security 14,049 10,137
Other creditors 3,948 2,998
24,400 16,635

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors - 10,000

PICCADILLY GARAGE LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
PICCADILLY GARAGE LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Our report is prepared solely for the confidential use of the directors and should not be relied upon by any third party without prior reference to ourselves.






Taylor, Robertson & Willett Ltd
95 King Street
Lancaster
Lancashire
LA1 1RH


15 November 2023