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REGISTERED NUMBER: 05863685 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 AUGUST 2023

FOR

CROSS STREET GARAGE (SWINDON) LIMITED

CROSS STREET GARAGE (SWINDON) LIMITED (REGISTERED NUMBER: 05863685)






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


CROSS STREET GARAGE (SWINDON) LIMITED

COMPANY INFORMATION
for the year ended 31 August 2023







DIRECTOR: S Nijjar





SECRETARIES: R Nijjar
K Kaur
S Nijjar





REGISTERED OFFICE: Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU





REGISTERED NUMBER: 05863685 (England and Wales)





ACCOUNTANTS: d&t
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU

CROSS STREET GARAGE (SWINDON) LIMITED (REGISTERED NUMBER: 05863685)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 43,003 35,980
43,003 35,980

CURRENT ASSETS
Stocks 671,280 874,322
Debtors 6 317,335 288,102
Cash at bank and in hand 143,824 86,102
1,132,439 1,248,526
CREDITORS
Amounts falling due within one year 7 686,500 837,399
NET CURRENT ASSETS 445,939 411,127
TOTAL ASSETS LESS CURRENT
LIABILITIES

488,942

447,107

CREDITORS
Amounts falling due after more than one
year

8

(84,040

)

(119,738

)

PROVISIONS FOR LIABILITIES - (1,209 )
NET ASSETS 404,902 326,160

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 404,802 326,060
SHAREHOLDERS' FUNDS 404,902 326,160

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 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.

CROSS STREET GARAGE (SWINDON) LIMITED (REGISTERED NUMBER: 05863685)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





S Nijjar - Director


CROSS STREET GARAGE (SWINDON) LIMITED (REGISTERED NUMBER: 05863685)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2023

1. STATUTORY INFORMATION

Cross Street Garage (Swindon) 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 of the financial statements is the 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 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 2006, is being amortised evenly over its estimated useful life of ten years and the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of four 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - not provided
Plant and machinery - 25% straight line basis
Fixtures and fittings - 25% straight line basis
Motor vehicles - 25% straight line basis
Computer equipment - 25% straight line basis

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.


CROSS STREET GARAGE (SWINDON) LIMITED (REGISTERED NUMBER: 05863685)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

2. ACCOUNTING POLICIES - continued
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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 28 (2022 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 170,000
AMORTISATION
At 1 September 2022
and 31 August 2023 170,000
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

CROSS STREET GARAGE (SWINDON) LIMITED (REGISTERED NUMBER: 05863685)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2022 641 323,717 324,358
Additions - 29,985 29,985
At 31 August 2023 641 353,702 354,343
DEPRECIATION
At 1 September 2022 - 288,378 288,378
Charge for year - 22,962 22,962
At 31 August 2023 - 311,340 311,340
NET BOOK VALUE
At 31 August 2023 641 42,362 43,003
At 31 August 2022 641 35,339 35,980

The net book value of tangible fixed assets includes £ 12,801 (2022 - £ 8,224 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 151,068 67,476
Other debtors 166,267 220,626
317,335 288,102

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 39,996 39,996
Hire purchase contracts (see note 9) 3,472 3,472
Trade creditors 490,801 646,715
Taxation and social security 108,720 86,660
Other creditors 43,511 60,556
686,500 837,399

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 70,004 110,004
Hire purchase contracts (see note 9) 14,036 9,734
84,040 119,738

CROSS STREET GARAGE (SWINDON) LIMITED (REGISTERED NUMBER: 05863685)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 3,472 3,472
Between one and five years 14,036 9,734
17,508 13,206

At 31 August 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £72,674 (2022: £72,674).

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 110,000 150,000
Hire purchase contracts 17,508 13,206
127,508 163,206

The bank loans are secured by way of a fixed and floating charge over the assets of the company dated 19 October 2006.

11. RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all related party transactions have been conducted under normal market
conditions, including dividend payments to it's shareholders.