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REGISTERED NUMBER: 10168688 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

The London Road Garage (Kelvedon)
Limited

The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The London Road Garage (Kelvedon)
Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mr G M Eastall





REGISTERED OFFICE: The London Road Garage
London Road
Kelvedon
Colchester
Essex
CO5 9AU





REGISTERED NUMBER: 10168688 (England and Wales)

The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 24,425 32,568
Tangible assets 6 48,025 50,164
72,450 82,732

CURRENT ASSETS
Stocks 8,440 8,000
Debtors 7 3,772 3,665
Cash at bank and in hand 233,535 207,228
245,747 218,893
CREDITORS
Amounts falling due within one year 8 66,301 73,274
NET CURRENT ASSETS 179,446 145,619
TOTAL ASSETS LESS CURRENT
LIABILITIES

251,896

228,351

PROVISIONS FOR LIABILITIES 7,295 6,363
NET ASSETS 244,601 221,988

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 244,600 221,987
244,601 221,988

The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Balance Sheet - continued
31 May 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 February 2024 and were signed by:





Mr G M Eastall - Director


The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

The London Road Garage (Kelvedon) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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 balance sheet date.


The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Government grants
Government grants in relation to tangible fixed asset 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 81,430
AMORTISATION
At 1 June 2022 48,862
Charge for year 8,143
At 31 May 2023 57,005
NET BOOK VALUE
At 31 May 2023 24,425
At 31 May 2022 32,568

The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 77,378
Additions 6,808
At 31 May 2023 84,186
DEPRECIATION
At 1 June 2022 27,214
Charge for year 8,947
At 31 May 2023 36,161
NET BOOK VALUE
At 31 May 2023 48,025
At 31 May 2022 50,164

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,772 3,665

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 35,037 41,146
Taxation and social security 28,183 20,559
Other creditors 3,081 11,569
66,301 73,274

Included within other creditors disclosed above is a balance of £286 (2022 - £774) in relation to the Director's loan account, a balance of £2,795 (2022 - £2,795) in relation to accrued expenses and a balance of £nil (2022 - £8,000) in relation to other creditors.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 14,000 14,000
Between one and five years 49,000 54,846
In more than five years - 8,154
63,000 77,000