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REGISTERED NUMBER: 13577721 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 May 2023

for

Castle Vehicle Servicing Limited

Castle Vehicle Servicing Limited (Registered number: 13577721)

Contents of the Financial Statements
For The Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Castle Vehicle Servicing Limited

Company Information
For The Year Ended 31 May 2023







DIRECTORS: Mr D A Browne
Mr B P Lennon
Mr L A Mayne
Mr J M B Strowbridge
Mrs R M Lennon





REGISTERED OFFICE: Units 1 & 2 Heathfield Way
Kings Heath Industrial Estate
Northampton
NORTHAMPTONSHIRE
NN5 7QP





REGISTERED NUMBER: 13577721 (England and Wales)





ACCOUNTANTS: Harris & Clarke LLP
7 Billing Road
Northampton
NORTHAMPTONSHIRE
NN1 5AN

Castle Vehicle Servicing Limited (Registered number: 13577721)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,827 1,147
Tangible assets 5 160,987 183,578
164,814 184,725

CURRENT ASSETS
Stocks 1,463 5,258
Debtors 6 83,080 102,784
Cash at bank and in hand 49,709 53,934
134,252 161,976
CREDITORS
Amounts falling due within one year 7 263,790 312,558
NET CURRENT LIABILITIES (129,538 ) (150,582 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,276

34,143

CREDITORS
Amounts falling due after more than one
year

8

(102,655

)

(14,567

)

PROVISIONS FOR LIABILITIES (16,261 ) (35,098 )
NET LIABILITIES (83,640 ) (15,522 )

Castle Vehicle Servicing Limited (Registered number: 13577721)

Balance Sheet - continued
31 May 2023

2023 2022
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings (83,645 ) (15,527 )
(83,640 ) (15,522 )

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

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

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 3 October 2023 and were signed on its behalf by:




Mr L A Mayne - Director



Mrs R M Lennon - Director


Castle Vehicle Servicing Limited (Registered number: 13577721)

Notes to the Financial Statements
For The Year Ended 31 May 2023


1. STATUTORY INFORMATION

Castle Vehicle Servicing 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.

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.

The financial statements have been prepared on a going concern basis.

At the balance sheet date the company has net liabilities of £83,640 however £151,197 is due to the parent company, who have confirmed their willingness not to call in this debt and to meet the day to day working capital requirements of the company.

The directors believe that the company remains a going concern due to the continued support of the parent company and that this will be sufficient to meet any shortfall from operational activities. The financial statements have therefore been prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Brand design costs are being amortised evenly over their estimated useful life of three years.

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.
Plant and machinery etc - 25% on reducing balance and at varying rates on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Castle Vehicle Servicing Limited (Registered number: 13577721)

Notes to the Financial Statements - continued
For The Year Ended 31 May 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 contributes to employees defined contribution pension schemes. Contributions payable to these schemes 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 13 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2022 1,470
Additions 4,440
At 31 May 2023 5,910
AMORTISATION
At 1 June 2022 323
Charge for year 1,760
At 31 May 2023 2,083
NET BOOK VALUE
At 31 May 2023 3,827
At 31 May 2022 1,147

Castle Vehicle Servicing Limited (Registered number: 13577721)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023


5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Office
property machinery equipment Totals
£    £    £    £   
COST
At 1 June 2022 22,220 166,568 3,460 192,248
Additions 1,442 17,057 9,174 27,673
At 31 May 2023 23,662 183,625 12,634 219,921
DEPRECIATION
At 1 June 2022 196 8,081 393 8,670
Charge for year 4,668 42,839 2,757 50,264
At 31 May 2023 4,864 50,920 3,150 58,934
NET BOOK VALUE
At 31 May 2023 18,798 132,705 9,484 160,987
At 31 May 2022 22,024 158,487 3,067 183,578

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 June 2022 - 24,210 24,210
Additions - 8,150 8,150
Transfer to ownership 9,800 130,195 139,995
At 31 May 2023 9,800 162,555 172,355
DEPRECIATION
At 1 June 2022 - 4,035 4,035
Charge for year 2,399 38,443 40,842
Transfer to ownership 204 2,712 2,916
At 31 May 2023 2,603 45,190 47,793
NET BOOK VALUE
At 31 May 2023 7,197 117,365 124,562
At 31 May 2022 - 20,175 20,175

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 75,133 84,357
Other debtors 7,947 18,427
83,080 102,784

Castle Vehicle Servicing Limited (Registered number: 13577721)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 35,091 5,463
Trade creditors 49,957 204,860
Amounts owed to group undertakings 151,197 98,050
Taxation and social security 20,479 -
Other creditors 7,066 4,185
263,790 312,558

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 102,655 14,567

9. RELATED PARTY DISCLOSURES

The company is a subsidiary of Castle Coachworks (Northampton) Limited.

There is no ultimate controlling party