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Company Registration No. 08872481 (England and Wales)
Hillcroft Garage Limited Unaudited accounts for the year ended 28 February 2023
Hillcroft Garage Limited Unaudited accounts Contents
Page
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Hillcroft Garage Limited Company Information for the year ended 28 February 2023
Director
Andrew James Williams
Company Number
08872481 (England and Wales)
Registered Office
Chepstow Road Langstone Newport NP18 2JN
Accountants
Evans Entwistle Venta House Maes-glas Newport NP20 2NS
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Hillcroft Garage Limited for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hillcroft Garage Limited for the year ended 28 February 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Venta House Maes-glas Newport NP20 2NS 25 October 2023
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Hillcroft Garage Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
57,588 
36,439 
Current assets
Inventories
- 
10,000 
Debtors
5,752 
29,634 
Cash at bank and in hand
158,611 
132,436 
164,363 
172,070 
Creditors: amounts falling due within one year
(107,134)
(94,522)
Net current assets
57,229 
77,548 
Total assets less current liabilities
114,817 
113,987 
Creditors: amounts falling due after more than one year
(7,401)
(23,492)
Provisions for liabilities
Deferred tax
(6,624)
(6,923)
Net assets
100,792 
83,572 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
100,782 
83,562 
Shareholders' funds
100,792 
83,572 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 October 2023 and were signed on its behalf by
Andrew James Williams Director Company Registration No. 08872481
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Hillcroft Garage Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Hillcroft Garage Limited is a private company, limited by shares, registered in England and Wales, registration number 08872481. The registered office is Chepstow Road, Langstone, Newport, NP18 2JN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Hillcroft Garage Limited Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2022
84,957 
40,995 
10,777 
136,729 
Additions
35,680 
3,500 
2,900 
42,080 
At 28 February 2023
120,637 
44,495 
13,677 
178,809 
Depreciation
At 1 March 2022
61,075 
34,649 
4,566 
100,290 
Charge for the year
12,293 
2,245 
6,393 
20,931 
At 28 February 2023
73,368 
36,894 
10,959 
121,221 
Net book value
At 28 February 2023
47,269 
7,601 
2,718 
57,588 
At 28 February 2022
23,882 
6,346 
6,211 
36,439 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,517 
17,098 
Other debtors
2,235 
12,536 
5,752 
29,634 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
30,360 
30,180 
VAT
8,403 
17,397 
Trade creditors
59,665 
18,547 
Taxes and social security
4,677 
17,214 
Other creditors
4,029 
11,184 
107,134 
94,522 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
3,226 
20,392 
Loans from directors
4,175 
3,100 
7,401 
23,492 
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Hillcroft Garage Limited Notes to the Accounts for the year ended 28 February 2023
8
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
6,624 
6,923 
2023 
2022 
£ 
£ 
Provision at start of year
6,923 
- 
(Credited)/charged to the profit and loss account
(299)
6,923 
Provision at end of year
6,624 
6,923 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
10
Transactions with related parties
Hillcroft Langstone Ltd (05582384), Hillcroft Stores Ltd (10245684), Langstone Tyres (11154921) and the company are all under common control. At the end of the financial year the company was owed: Hillcroft Langstone Ltd £1,235 (2022: £1,235) Langstone Tyres Ltd £1,000 (2022:N/A) At the end of the financial year the company owed: Hillcroft Stores Ltd £4,029 (2022: the company was owed £11,301)
11
Average number of employees
During the year the average number of employees was 11 (2022: 17).
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