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REGISTERED NUMBER: 01415911 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

BOSLOWICK GARAGE LIMITED

BOSLOWICK GARAGE LIMITED (REGISTERED NUMBER: 01415911)






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


BOSLOWICK GARAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mrs E J Addy
B P Addy
Mrs J A Chaney Spiers





REGISTERED OFFICE: The Old Carriage Works
Moresk Road
TRURO
Cornwall
TR1 1DG





REGISTERED NUMBER: 01415911 (England and Wales)





ACCOUNTANTS: Lang Bennetts
The Old Carriage Works
Moresk Road
TRURO
Cornwall
TR1 1DG

BOSLOWICK GARAGE LIMITED (REGISTERED NUMBER: 01415911)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 606,139 606,695

CURRENT ASSETS
Stocks 63,852 101,905
Debtors 5 17,414 14,523
Cash at bank and in hand 345,006 278,455
426,272 394,883
CREDITORS
Amounts falling due within one year 6 99,657 90,987
NET CURRENT ASSETS 326,615 303,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

932,754

910,591

CAPITAL AND RESERVES
Called up share capital 7,501 7,501
Share premium 17,500 17,500
Revaluation reserve 7 462,995 462,995
Retained earnings 444,758 422,595
932,754 910,591

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.

BOSLOWICK GARAGE LIMITED (REGISTERED NUMBER: 01415911)

BALANCE SHEET - continued
31 MAY 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 22 December 2023 and were signed on its behalf by:





Mrs E J Addy - Director


BOSLOWICK GARAGE LIMITED (REGISTERED NUMBER: 01415911)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Boslowick Garage 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.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when the amount of revenue, stage of completion and costs incurred can be measured reliably.Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not depreciated
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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 income statement.

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.


BOSLOWICK GARAGE LIMITED (REGISTERED NUMBER: 01415911)

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.

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 14 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 600,000 32,810 75,359 34,165 742,334
Additions - - 500 737 1,237
At 31 May 2023 600,000 32,810 75,859 34,902 743,571
DEPRECIATION
At 1 June 2022 - 32,490 71,718 31,431 135,639
Charge for year - 64 1,035 694 1,793
At 31 May 2023 - 32,554 72,753 32,125 137,432
NET BOOK VALUE
At 31 May 2023 600,000 256 3,106 2,777 606,139
At 31 May 2022 600,000 320 3,641 2,734 606,695

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,299 14,523
Prepayments 115 -
17,414 14,523

BOSLOWICK GARAGE LIMITED (REGISTERED NUMBER: 01415911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 43,400
Tax 21,399 10,676
Social security and other taxes 1,028 -
VAT 8,343 11,084
Other creditors 6,022 -
Directors' loan accounts 60,865 22,737
Accrued expenses 2,000 3,090
99,657 90,987

7. RESERVES
Revaluation
reserve
£   
At 1 June 2022
and 31 May 2023 462,995