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REGISTERED NUMBER: 01440161















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Garage Master Limited

Garage Master Limited (Registered number: 01440161)






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

Chartered Certified Accountants' Report 7

Garage Master Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Ms J E Jones
Ms J Rainbow





REGISTERED OFFICE: 5 Fleetsbridge Business Centre
Upton Road
Poole
Dorset
BH17 7AF





REGISTERED NUMBER: 01440161





ACCOUNTANTS: LJB Chartered Certified Accountants
Tax & Business Advisors
864 Christchurch Road
Bournemouth
Dorset
BH7 6DQ

Garage Master Limited (Registered number: 01440161)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 64,191 68,114
Investments 5 3 3
64,194 68,117

CURRENT ASSETS
Inventories 13,879 27,213
Debtors 6 225,038 214,236
Cash at bank 13,867 19,607
252,784 261,056
CREDITORS
Amounts falling due within one year 7 120,405 70,746
NET CURRENT ASSETS 132,379 190,310
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,573

258,427

CREDITORS
Amounts falling due after more than one year 8 (20,535 ) (29,649 )

PROVISIONS FOR LIABILITIES (579 ) (565 )
NET ASSETS 175,459 228,213

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 10 10
Retained earnings 175,349 228,103
SHAREHOLDERS' FUNDS 175,459 228,213

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 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.

Garage Master Limited (Registered number: 01440161)

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 Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





Ms J Rainbow - Director


Garage Master Limited (Registered number: 01440161)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Garage Master Limited is a private company, limited by shares , registered in Not specified/Other. 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - at variable rates on reducing balance

Stocks
Inventories 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.

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.

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.

Garage Master Limited (Registered number: 01440161)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 163,041 103,376 266,417
Additions - 354 354
At 28 February 2023 163,041 103,730 266,771
DEPRECIATION
At 1 March 2022 98,634 99,669 198,303
Charge for year 3,261 1,016 4,277
At 28 February 2023 101,895 100,685 202,580
NET BOOK VALUE
At 28 February 2023 61,146 3,045 64,191
At 28 February 2022 64,407 3,707 68,114

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2022
and 28 February 2023 3
NET BOOK VALUE
At 28 February 2023 3
At 28 February 2022 3

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 15,352 12,476
Amounts owed by group undertakings 203,769 201,630
Other debtors 5,917 130
225,038 214,236

Garage Master Limited (Registered number: 01440161)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 8,763 8,649
Trade creditors 46,995 18,090
Taxation and social security 1,957 7,295
Other creditors 62,690 36,712
120,405 70,746

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 20,535 29,649

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Garage Master Holdings Limited.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Garage Master Limited

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Garage Master Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Garage Master Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Garage Master Limited and state those matters that we have agreed to state to the Board of Directors of Garage Master Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Garage Master Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Garage Master Limited. You consider that Garage Master Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Garage Master Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






LJB Chartered Certified Accountants
Tax & Business Advisors
864 Christchurch Road
Bournemouth
Dorset
BH7 6DQ


29 November 2023