Company Registration No. 03344173 (England and Wales)
BEAULIEU GARAGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
BEAULIEU GARAGE LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
BEAULIEU GARAGE LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr K Harmer
Miss J E Harmer
Mrs D E Harmer
Miss C J Harmer
Company number
03344173
Registered office
10 Bridge Street
Christchurch
Dorset
BH23 1EF
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
BEAULIEU GARAGE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
108,132
126,244
Current assets
Stocks
158,829
169,426
Debtors
5
55,318
144,599
Cash at bank and in hand
27,272
81,934
241,419
395,959
Creditors: amounts falling due within one year
6
(88,673)
(99,446)
Net current assets
152,746
296,513
Total assets less current liabilities
260,878
422,757
Creditors: amounts falling due after more than one year
7
(511,129)
(511,129)
Net liabilities
(250,251)
(88,372)
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
(250,253)
(88,374)
Total equity
(250,251)
(88,372)
BEAULIEU GARAGE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial 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 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 20 February 2024 and are signed on its behalf by:
Mr K Harmer
Director
Company Registration No. 03344173
The notes on pages 4 to 8 form part of these financial statements
BEAULIEU GARAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information

Beaulieu Garage Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Bridge Street, Christchurch, Dorset, BH23 1EF.

 

The business address is Lyndhurst Road, Beaulieu, Brockenhurst, Hampshire SO42 7YE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The directors' have confirmed their continued support of the company.

 

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.4
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business over its estimated useful life has been fully amortised.

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.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Short leasehold improvements
10% on cost
Plant and machinery
20% on cost
BEAULIEU GARAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Work in progress is measured at the lower of cost and net realisable value.

 

Stock is measured at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
BEAULIEU GARAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
50,000
Amortisation and impairment
At 1 April 2022 and 31 March 2023
50,000
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
4
Tangible fixed assets
Short leasehold
Plant and machinery
Total
£
£
£
Cost
At 1 April 2022
306,529
45,913
352,442
Additions
-
0
16,482
16,482
At 31 March 2023
306,529
62,395
368,924
Depreciation and impairment
At 1 April 2022
182,212
43,986
226,198
Depreciation charged in the year
30,653
3,941
34,594
At 31 March 2023
212,865
47,927
260,792
Carrying amount
At 31 March 2023
93,664
14,468
108,132
At 31 March 2022
124,317
1,927
126,244
BEAULIEU GARAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
17,713
97,233
Amounts owed by group undertakings
13,395
13,395
Other debtors
24,210
33,971
55,318
144,599
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
66,314
82,277
Amounts owed to group undertakings
18,513
13,500
Other creditors
3,846
3,669
88,673
99,446
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
511,129
511,129
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
BEAULIEU GARAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
25,000
50,000
10
Related party transactions

The director Mr K Harmer has given assurance that his directors loan account balance of £511,129 (2022 - £511,129), will not be withdrawn within the next twelve months.

11
Parent company

The ultimate controlling party is Mr K Harmer.

 

The company's immediate parent is New Forest Classic Cars Limited, incorporated in England and Wales.

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