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REGISTERED NUMBER: 00789025 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NEW DUSTON GARAGE LIMITED

NEW DUSTON GARAGE LIMITED (REGISTERED NUMBER: 00789025)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NEW DUSTON GARAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R M Brown
K Brown
J Peck





SECRETARY: K Brown





REGISTERED OFFICE: Eagle House
28 Billing Road
Northampton
Northamptonshire
NN1 5AJ





REGISTERED NUMBER: 00789025 (England and Wales)





ACCOUNTANTS: DNG Dove Naish LLP
Eagle House
28 Billing Road
Northampton
NN1 5AJ

NEW DUSTON GARAGE LIMITED (REGISTERED NUMBER: 00789025)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 52,505 44,653
52,505 44,653

CURRENT ASSETS
Stocks 8,188 21,256
Debtors 6 115,243 89,421
Cash at bank and in hand 270,819 329,513
394,250 440,190
CREDITORS
Amounts falling due within one year 7 208,930 212,045
NET CURRENT ASSETS 185,320 228,145
TOTAL ASSETS LESS CURRENT
LIABILITIES

237,825

272,798

CREDITORS
Amounts falling due after more than one
year

8

(21,631

)

(34,345

)

PROVISIONS FOR LIABILITIES (9,984 ) (10,451 )
NET ASSETS 206,210 228,002

CAPITAL AND RESERVES
Called up share capital 8,000 8,000
Capital redemption reserve 2,000 2,000
Retained earnings 196,210 218,002
SHAREHOLDERS' FUNDS 206,210 228,002

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

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

NEW DUSTON GARAGE LIMITED (REGISTERED NUMBER: 00789025)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





R M Brown - Director


NEW DUSTON GARAGE LIMITED (REGISTERED NUMBER: 00789025)

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


1. STATUTORY INFORMATION

New Duston 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.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover
Turnover represents net invoiced sale of goods and services, excluding value added tax.

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.
Leasehold property - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 50% on reducing balance
Motor vehicles - 25% on reducing balance

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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

NEW DUSTON GARAGE LIMITED (REGISTERED NUMBER: 00789025)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

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 statement of comprehensive income under administrative expenses.

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

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

NEW DUSTON GARAGE LIMITED (REGISTERED NUMBER: 00789025)

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


2. ACCOUNTING POLICIES - continued

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 20 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 9,000
AMORTISATION
At 1 January 2023
and 31 December 2023 9,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 70,945 140,988 41,934 25,420 279,287
Additions 6,707 5,570 4,772 6,500 23,549
At 31 December 2023 77,652 146,558 46,706 31,920 302,836
DEPRECIATION
At 1 January 2023 70,110 103,899 35,970 24,655 234,634
Charge for year 418 10,188 3,984 1,107 15,697
At 31 December 2023 70,528 114,087 39,954 25,762 250,331
NET BOOK VALUE
At 31 December 2023 7,124 32,471 6,752 6,158 52,505
At 31 December 2022 835 37,089 5,964 765 44,653

The net book value of tangible fixed assets includes £ 6,292 (2022 - £ 8,389 ) in respect of assets held under hire purchase contracts.

NEW DUSTON GARAGE LIMITED (REGISTERED NUMBER: 00789025)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 67,138 43,825
Other debtors 10,083 9,423
Prepayments and accrued income 38,022 36,173
115,243 89,421

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,848 9,848
Hire purchase contracts (see note 9) 2,824 2,824
Trade creditors 74,316 81,108
Tax 29,499 23,624
Social security and other taxes 19,113 18,065
VAT 50,123 44,545
Other creditors 7,894 12,330
Directors' current accounts 15,313 19,701
208,930 212,045

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 15,080 24,970
Hire purchase contracts (see note 9) 6,551 9,375
21,631 34,345

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 2,824 2,824
Between one and five years 6,551 9,375
9,375 12,199

NEW DUSTON GARAGE LIMITED (REGISTERED NUMBER: 00789025)

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


9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year 74,623 83,627
Between one and five years 243,936 257,575
In more than five years - 60,984
318,559 402,186

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 24,928 34,818
Hire purchase contracts 9,375 12,199
34,303 47,017

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