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REGISTERED NUMBER: 05290739 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

STEPHEN FOX GARAGE LIMITED

STEPHEN FOX GARAGE LIMITED (REGISTERED NUMBER: 05290739)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STEPHEN FOX GARAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: S Fox





SECRETARY: S M Fox





REGISTERED OFFICE: 510 Knowsley Lane
Knowsley
Prescot
Merseyside
L34 9EF





REGISTERED NUMBER: 05290739 (England and Wales)





ACCOUNTANTS: C A Hunter Limited
Britannia Chambers
26 George Street
St Helens
Merseyside
WA10 1BZ

STEPHEN FOX GARAGE LIMITED (REGISTERED NUMBER: 05290739)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 9,191 9,561
9,191 9,561

CURRENT ASSETS
Stocks 128 763
Debtors 6 8,400 23,565
Cash at bank and in hand 3,631 44,742
12,159 69,070
CREDITORS
Amounts falling due within one year 7 5,186 27,488
NET CURRENT ASSETS 6,973 41,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,164

51,143

PROVISIONS FOR LIABILITIES 1,679 1,777
NET ASSETS 14,485 49,366

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,385 49,266
SHAREHOLDERS' FUNDS 14,485 49,366

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

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 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 Profit and Loss Account has not been delivered.

STEPHEN FOX GARAGE LIMITED (REGISTERED NUMBER: 05290739)

BALANCE SHEET - continued
31 MARCH 2023



The financial statements were approved by the director and authorised for issue on 31 January 2024 and were signed by:





S Fox - Director


STEPHEN FOX GARAGE LIMITED (REGISTERED NUMBER: 05290739)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Stephen Fox Garage 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

STEPHEN FOX GARAGE LIMITED (REGISTERED NUMBER: 05290739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 30,000
AMORTISATION
At 1 April 2022
and 31 March 2023 30,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 12,370 4,846 10,112 1,432 28,760
Additions 1,666 - - - 1,666
At 31 March 2023 14,036 4,846 10,112 1,432 30,426
DEPRECIATION
At 1 April 2022 8,396 1,509 8,162 1,132 19,199
Charge for year 846 501 487 202 2,036
At 31 March 2023 9,242 2,010 8,649 1,334 21,235
NET BOOK VALUE
At 31 March 2023 4,794 2,836 1,463 98 9,191
At 31 March 2022 3,974 3,337 1,950 300 9,561

STEPHEN FOX GARAGE LIMITED (REGISTERED NUMBER: 05290739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,434 11,010
Other debtors 6,966 12,555
8,400 23,565

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors - 1,184
Taxation and social security 1,195 21,830
Other creditors 3,991 4,474
5,186 27,488

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The directors have a loan account with the company the balance on which was £6,507 owed to the company at 31st March 2023 (2022 £9,169). No interest is charged or paid on the loan balance.