Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-312022-11-01falsevehicle repairs66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05556389 2022-11-01 2023-10-31 05556389 2021-11-01 2022-10-31 05556389 2023-10-31 05556389 2022-10-31 05556389 c:Director1 2022-11-01 2023-10-31 05556389 c:Director2 2022-11-01 2023-10-31 05556389 d:Buildings 2022-11-01 2023-10-31 05556389 d:Buildings 2023-10-31 05556389 d:Buildings 2022-10-31 05556389 d:Buildings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 05556389 d:PlantMachinery 2022-11-01 2023-10-31 05556389 d:PlantMachinery 2023-10-31 05556389 d:PlantMachinery 2022-10-31 05556389 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 05556389 d:MotorVehicles 2022-11-01 2023-10-31 05556389 d:MotorVehicles 2023-10-31 05556389 d:MotorVehicles 2022-10-31 05556389 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 05556389 d:OfficeEquipment 2022-11-01 2023-10-31 05556389 d:OfficeEquipment 2023-10-31 05556389 d:OfficeEquipment 2022-10-31 05556389 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 05556389 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 05556389 d:CurrentFinancialInstruments 2023-10-31 05556389 d:CurrentFinancialInstruments 2022-10-31 05556389 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 05556389 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 05556389 d:ShareCapital 2023-10-31 05556389 d:ShareCapital 2022-10-31 05556389 d:RetainedEarningsAccumulatedLosses 2023-10-31 05556389 d:RetainedEarningsAccumulatedLosses 2022-10-31 05556389 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-10-31 05556389 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-10-31 05556389 c:FRS102 2022-11-01 2023-10-31 05556389 c:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 05556389 c:AbridgedAccounts 2022-11-01 2023-10-31 05556389 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 05556389 2 2022-11-01 2023-10-31 05556389 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 05556389









CENTRAL GARAGE (UPPER HARTFIELD) LTD








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023


 
CENTRAL GARAGE (UPPER HARTFIELD) LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CENTRAL GARAGE (UPPER HARTFIELD) LTD
FOR THE YEAR ENDED 31 OCTOBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Central Garage (Upper Hartfield) Ltd for the year ended 31 October 2023 which comprise the 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 Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Central Garage (Upper Hartfield) Ltd, as a body, in accordance with the terms of our engagement letter dated 9 May 2023Our work has been undertaken solely to prepare for your approval the financial statements of Central Garage (Upper Hartfield) Ltd and state those matters that we have agreed to state to the Board of directors of Central Garage (Upper Hartfield) Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Central Garage (Upper Hartfield) Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Central Garage (Upper Hartfield) Ltd 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 profit of Central Garage (Upper Hartfield) Ltd. You consider that Central Garage (Upper Hartfield) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Central Garage (Upper Hartfield) Ltd. 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.

  



DMC Partnership Limited
 
Chartered Accountants
  
Yew Tree House
Lewes Road
Forest Row
East Sussex
RH18 5AA
2 April 2024
Page 1


 
CENTRAL GARAGE (UPPER HARTFIELD) LTD
REGISTERED NUMBER:05556389

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
254,726
256,486

  
254,726
256,486

Current assets
  

Stocks
 5 
15,000
16,000

Debtors
 6 
31,635
23,892

Cash at bank and in hand
 7 
227,402
256,712

  
274,037
296,604

Creditors: amounts falling due within one year
 8 
(147,439)
(162,980)

Net current assets
  
 
 
126,598
 
 
133,624

Total assets less current liabilities
  
381,324
390,110

Net assets
  
381,324
390,110


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
381,320
390,106

  
381,324
390,110


Page 2


 
CENTRAL GARAGE (UPPER HARTFIELD) LTD
REGISTERED NUMBER:05556389
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 April 2024.




A Cooper
L Miller
Director
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3


 
CENTRAL GARAGE (UPPER HARTFIELD) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The Company is incorporated in England and Wales and is limited by shares. The registered office is located at Yew Tree House, Lewes Road, Forest Row, East Sussex, RH18 5AA.
The company’s principal activity continued to be that of vehicle repairs. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract 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 all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4


 
CENTRAL GARAGE (UPPER HARTFIELD) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Plant and machinery
-
25%
on a reducing balance basis
Motor vehicles
-
25%
on a reducing balance basis
Office equipment
-
25%
on a reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5


 
CENTRAL GARAGE (UPPER HARTFIELD) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 6


 
CENTRAL GARAGE (UPPER HARTFIELD) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7


 
CENTRAL GARAGE (UPPER HARTFIELD) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
135,417
130,394

Social security costs
6,152
6,152

Cost of defined contribution scheme
36,254
16,017

177,823
152,563


The average monthly number of employees, including directors, during the year was 6 (2022 - 6).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 November 2022
248,838
42,726
14,233
200
305,997


Additions
-
-
-
203
203



At 31 October 2023

248,838
42,726
14,233
403
306,200



Depreciation


At 1 November 2022
-
41,434
7,962
115
49,511


Charge for the year on owned assets
-
323
1,568
72
1,963



At 31 October 2023

-
41,757
9,530
187
51,474



Net book value



At 31 October 2023
248,838
969
4,703
216
254,726



At 31 October 2022
248,838
1,292
6,271
85
256,486


5.


Stocks

2023
2022
£
£

Raw materials and consumables
15,000
16,000

15,000
16,000


Page 8


 
CENTRAL GARAGE (UPPER HARTFIELD) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
21,830
17,057

Other debtors
5,179
1,730

Prepayments and accrued income
4,626
5,105

31,635
23,892



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
227,402
256,712

227,402
256,712



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
38,304
29,221

Corporation tax
1,924
8,713

Other taxation and social security
14,835
21,351

Other creditors
87,094
100,372

Accruals and deferred income
5,282
3,323

147,439
162,980



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
227,402
256,712




Financial assets measured at fair value through profit or loss comprise...

Page 9


 
CENTRAL GARAGE (UPPER HARTFIELD) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £36,254  (2022 - £16,017).
Contributions totalling £NIL (2022 - £NIL) were payable to the fund at the balance sheet date and are included in creditors.


11.


Transactions with directors

Included in other creditors due within one year is a loan from the director, A Cooper amounting to £(43,671) [2022 - £(49,953)]. Included in other creditors due within one year is a loan from the director, L Miller amounting to £(43,423) [2022 - £(49,705)].   


12.


Controlling party

The company was controlled throughout the current and previous period by its directors, A Cooper and L Miller, by virtue of the fact that between them they control all of the company’s ordinary issued share capital.

 
Page 10