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Company Registration No. 2212296 (England and Wales)
J. Coates (Garage Services) Limited Unaudited accounts for the year ended 30 April 2023
J. Coates (Garage Services) Limited Unaudited accounts Contents
Page
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J. Coates (Garage Services) Limited Statement of financial position as at 30 April 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
198,853 
106,208 
Current assets
Inventories
24,622 
28,967 
Debtors
389,849 
324,674 
Cash at bank and in hand
45,262 
94,320 
459,733 
447,961 
Creditors: amounts falling due within one year
(502,496)
(444,022)
Net current (liabilities)/assets
(42,763)
3,939 
Total assets less current liabilities
156,090 
110,147 
Creditors: amounts falling due after more than one year
(106,544)
(40,000)
Provisions for liabilities
Deferred tax
(14,230)
(19,922)
Net assets
35,316 
50,225 
Capital and reserves
Called up share capital
2,930 
2,930 
Share premium
280 
280 
Capital redemption reserve
17,070 
17,070 
Profit and loss account
15,036 
29,945 
Shareholders' funds
35,316 
50,225 
For the year ending 30 April 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 16 January 2024 and were signed on its behalf by
A A Eden Director Company Registration No. 2212296
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J. Coates (Garage Services) Limited Notes to the Accounts for the year ended 30 April 2023
1
Statutory information
J. Coates (Garage Services) Limited is a private company, limited by shares, registered in England and Wales, registration number 2212296. The registered office is Unit 2, Shawell Depot, Watling Street, Shawell, Lutterworth, Leicestershire, LE17 6AR.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Intangible fixed assets
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:
Land & buildings
10% per annum on cost
Plant & machinery
25% per annum on net book amount
Motor vehicles
25% per annum on net book amount
Fixtures & fittings
20% per annum on net book amount
Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.
Deferred taxation
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.
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J. Coates (Garage Services) Limited Notes to the Accounts for the year ended 30 April 2023
Leased assets
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 May 2022
20,000 
At 30 April 2023
20,000 
Amortisation
At 1 May 2022
20,000 
At 30 April 2023
20,000 
Net book value
At 30 April 2023
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 May 2022
7,682 
197,981 
159,239 
24,806 
389,708 
Additions
- 
22,339 
136,000 
- 
158,339 
At 30 April 2023
7,682 
220,320 
295,239 
24,806 
548,047 
Depreciation
At 1 May 2022
6,329 
158,437 
99,314 
19,420 
283,500 
Charge for the year
768 
14,676 
48,983 
1,267 
65,694 
At 30 April 2023
7,097 
173,113 
148,297 
20,687 
349,194 
Net book value
At 30 April 2023
585 
47,207 
146,942 
4,119 
198,853 
At 30 April 2022
1,353 
39,544 
59,925 
5,386 
106,208 
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J. Coates (Garage Services) Limited Notes to the Accounts for the year ended 30 April 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
325,738 
321,211 
Accrued income and prepayments
16,370 
3,463 
Other debtors
47,741 
- 
389,849 
324,674 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
9,648 
10,000 
Obligations under finance leases and hire purchase contracts
31,387 
18,059 
Trade creditors
228,580 
161,813 
Taxes and social security
130,711 
146,650 
Other creditors
98,385 
94,600 
Accruals
3,785 
12,900 
502,496 
444,022 
Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
30,751 
40,000 
Obligations under finance leases and hire purchase contracts
75,793 
- 
106,544 
40,000 
Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,470 Ordinary B shares of £1 each
1,470 
1,470 
1,260 Ordinary C shares of £1 each
1,260 
1,260 
200 Ordinary E shares of £1 each
200 
200 
2,930 
2,930 
10
Average number of employees
During the year the average number of employees was 18 (2022: 21).
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