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REGISTERED NUMBER: 04849346 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Whitings Garage Limited

Whitings Garage Limited (Registered number: 04849346)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Whitings Garage Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: S Whiting





SECRETARY: Mrs A Whiting





REGISTERED OFFICE: The Sandpit
Southwold Road
Holton
Halesworth
Suffolk





REGISTERED NUMBER: 04849346 (England and Wales)





ACCOUNTANTS: Mark Carter Accountancy Services Ltd
65 Kennedy Avenue
Halesworth
Suffolk
IP19 8EQ

Whitings Garage Limited (Registered number: 04849346)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 223,988 236,868
223,988 236,868

CURRENT ASSETS
Stocks 22,600 17,500
Debtors 6 14,769 21,358
Cash at bank and in hand 36,309 43,722
73,678 82,580
CREDITORS
Amounts falling due within one year 7 51,979 56,135
NET CURRENT ASSETS 21,699 26,445
TOTAL ASSETS LESS CURRENT
LIABILITIES

245,687

263,313

CREDITORS
Amounts falling due after more than
one year

8

-

(8,744

)

PROVISIONS FOR LIABILITIES (32,127 ) (31,824 )
NET ASSETS 213,560 222,745

Whitings Garage Limited (Registered number: 04849346)

Balance Sheet - continued
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 213,460 222,645
SHAREHOLDERS' FUNDS 213,560 222,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 29 March 2024 and were signed by:





S Whiting - Director


Whitings Garage Limited (Registered number: 04849346)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Whitings 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

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.

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.
Improvements to leasehold property - 5% on cost
Equipment - 20% on reducing balance
Motor vehicles - 25% 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.


Whitings Garage Limited (Registered number: 04849346)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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
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.

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.

Turnover
The company's turnover represents the value, excluding VAT, of goods and services supplied to customers during the year. All services took place in the UK.

3. EMPLOYEES AND DIRECTORS

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

Whitings Garage Limited (Registered number: 04849346)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 30,000
AMORTISATION
At 1 July 2022
and 30 June 2023 30,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
to
leasehold Motor
property Equipment vehicles Totals
£    £    £    £   
COST
At 1 July 2022 68,446 439,775 19,117 527,338
Additions - 33,634 - 33,634
At 30 June 2023 68,446 473,409 19,117 560,972
DEPRECIATION
At 1 July 2022 16,303 259,740 14,427 290,470
Charge for year 2,607 42,734 1,173 46,514
At 30 June 2023 18,910 302,474 15,600 336,984
NET BOOK VALUE
At 30 June 2023 49,536 170,935 3,517 223,988
At 30 June 2022 52,143 180,035 4,690 236,868

Whitings Garage Limited (Registered number: 04849346)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Equipment
£   
COST
At 1 July 2022
and 30 June 2023 66,000
DEPRECIATION
At 1 July 2022 14,080
Charge for year 10,384
At 30 June 2023 24,464
NET BOOK VALUE
At 30 June 2023 41,536
At 30 June 2022 51,920

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 14,012 20,601
Other debtors 757 757
14,769 21,358

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts - 4,182
Hire purchase contracts 8,744 8,744
Trade creditors 16,016 18,317
Taxation and social security 12,556 8,900
Other creditors 14,663 15,992
51,979 56,135

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts - 8,744

Whitings Garage Limited (Registered number: 04849346)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Hire purchase contracts 8,744 17,488

Net obligations under hire purchase contracts are secured on the relevant assets.