Company Registration No. 04662334 (England and Wales)
Ladyroyd Garage Limited
Unaudited accounts
for the year ended 31 March 2023
Ladyroyd Garage Limited
Unaudited accounts
Contents
Ladyroyd Garage Limited
Statement of financial position
as at 31 March 2023
Tangible assets
1,183,696
875,256
Cash at bank and in hand
679,517
732,326
Creditors: amounts falling due within one year
(580,560)
(452,377)
Net current assets
345,886
564,974
Total assets less current liabilities
1,529,583
1,440,231
Creditors: amounts falling due after more than one year
(25,046)
(35,652)
Provisions for liabilities
Deferred tax
(278,193)
(152,836)
Net assets
1,226,344
1,251,743
Called up share capital
2,000
2,000
Profit and loss account
1,224,344
1,249,743
Shareholders' funds
1,226,344
1,251,743
For the year ending 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by
David Thornes
Director
Company Registration No. 04662334
Ladyroyd Garage Limited
Notes to the Accounts
for the year ended 31 March 2023
Ladyroyd Garage Limited is a private company, limited by shares, registered in England and Wales, registration number 04662334. The registered office is 507 Thornton Road, Girlington, Bradford, West Yorkshire, BD8 9RB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable for goods and services in the normal course of business, and is shown net of VAT.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Ladyroyd Garage Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2022
330,281
1,517,580
1,847,861
Additions
-
618,819
618,819
Disposals
-
(111,495)
(111,495)
At 31 March 2023
330,281
2,024,904
2,355,185
At 1 April 2022
259,422
713,183
972,605
Charge for the year
2,126
196,758
198,884
At 31 March 2023
261,548
909,941
1,171,489
At 31 March 2023
68,733
1,114,963
1,183,696
At 31 March 2022
70,859
804,397
875,256
Amounts falling due within one year
Trade debtors
187,662
120,708
Other debtors
56,992
161,912
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Trade creditors
465,391
331,775
Taxes and social security
43,269
82,426
Other creditors
61,900
28,176
Ladyroyd Garage Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 20 (2022: 20).