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Oaksey Garage Limited
Registered Number:05379402
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2023
Oaksey Garage Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
05379402
As at 31 March 2023
Oaksey Garage Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
5,888
3,530
2
5,888
3,530
Current assets
Inventories
1,500
2,250
3
Trade and other receivables
17,624
21,564
4
18,420
Cash and cash equivalents
11,239
35,053
37,544
Trade and other payables: amounts falling due within one year
(18,531)
(23,991)
5
19,013
11,062
Net current assets
Total assets less current liabilities
16,950
22,543
Trade and other payables: amounts falling due after more than one
year
(21,935)
(14,989)
6
(1,119)
(487)
Provisions for liabilities
842
Net assets
121
Capital and reserves
Called up share capital
100
100
Retained earnings
742
21
842
121
Shareholders' funds
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
05379402
For the year ended 31 March 2023
Oaksey Garage Limited
Statement of Financial Position Continued
Mr Wayne Bowler Director
These financial statements were approved and authorised for issue by the Board on 30 November 2023 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 March 2023
Oaksey Garage Limited
Notes to the Financial Statements
Statutory Information
Oaksey Garage Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
05379402.
Principal place of business:
Unit 6
Pat Yat
Kemble
Gloucestershire
GL7 6AY
Registered address:
Windyridge
Amberley
Stroud
Gloucestershire
GL5 5AA
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act
2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation
of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
15% Reducing balance
15% Reducing balance
Computer Equipment
25% Reducing balance
Motor Vehicles
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and estimated selling price less costs to sell.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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6
For the year ended 31 March 2023
Oaksey Garage Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Motor Vehicles
Plant and
Machinery
£
£
£
£
Cost or valuation
At 01 April 2022
8,111
4,240
2,000
1,871
4,000
-
4,000
-
Additions
At 31 March 2023
1,871
6,000
4,240
12,111
Provision for depreciation and impairment
At 01 April 2022
4,581
1,975
875
1,731
Charge for year
1,642
340
1,281
21
At 31 March 2023
6,223
2,315
2,156
1,752
At 31 March 2023
Net book value
119
3,844
1,925
5,888
At 31 March 2022
140
1,125
2,265
3,530
3. Inventories
2022
2023
£
£
Stocks
2,250
1,500
4. Trade and other receivables
2022
2023
£
£
Trade debtors
21,564
17,624
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
9,208
9,208
Trade creditors
9,421
4,910
Taxation and social security
3,760
2,810
Other creditors
1,602
1,603
23,991
18,531
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7
For the year ended 31 March 2023
Oaksey Garage Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
14,989
21,935
7. Guarantees and other financial commitments
Lease commitments
At 31 March 2023 the company had annual commitments under non-cancellable operating leases as set out below:
2022
£
2023
£
Operating leases which expire:
13,200
13,200
Within 2 to 5 years
13,200
13,200
8. Average number of persons employed
During the year the average number of employees was 1 (2022 : 1)
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