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REGISTERED NUMBER: 07960889 (England and Wales)















WILLINGTON GARAGE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WILLINGTON GARAGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: J E Williams





REGISTERED OFFICE: 4 Twyford Road
Willington
Derby
Derbyshire
DE65 6DE





REGISTERED NUMBER: 07960889 (England and Wales)

WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 57,565 74,979

CURRENT ASSETS
Stocks 181,400 135,600
Debtors 5 2,800 4,494
Cash at bank and in hand 137,816 149,880
322,016 289,974
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

167,416

160,427
NET CURRENT ASSETS 154,600 129,547
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,165

204,526

PROVISIONS FOR LIABILITIES 8 10,196 13,258
NET ASSETS 201,969 191,268

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 200,969 190,268
SHAREHOLDERS' FUNDS 201,969 191,268

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

BALANCE SHEET - continued
28 FEBRUARY 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 28 November 2023 and were signed by:





J E Williams - Director


WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Willington 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 represents net invoiced sales of goods and services, net of value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

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.

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.

WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the
employees are entitled are recognised at the undiscounted amount expected to be paid in exchange
for that service.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 March 2022 12,999 96,261 28,283 137,543
Additions - 7,387 - 7,387
At 28 February 2023 12,999 103,648 28,283 144,930
DEPRECIATION
At 1 March 2022 7,800 44,876 9,888 62,564
Charge for year 1,300 18,388 5,113 24,801
At 28 February 2023 9,100 63,264 15,001 87,365
NET BOOK VALUE
At 28 February 2023 3,899 40,384 13,282 57,565
At 28 February 2022 5,199 51,385 18,395 74,979

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,133 1,343
Other debtors 1,667 3,151
2,800 4,494

WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 37,859 25,235
Taxation and social security 18,349 10,362
Other creditors 111,208 124,830
167,416 160,427

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 16,000 16,000
Between one and five years 32,000 48,000
48,000 64,000

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 10,196 13,258

Deferred
tax
£   
Balance at 1 March 2022 13,258
Provided during year (3,062 )
Balance at 28 February 2023 10,196

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


10. RELATED PARTY DISCLOSURES

J E Williams

Included in other creditors is the following amount owed to the director, the amount is interest free and
repayable on demand.

2023 2022
£    £   
Amount due to related party at the balance sheet date 91,556 101,658

11. ULTIMATE CONTROLLING PARTY

The controlling party is J E Williams.