Registered number
06833647
Frampton Garage (South Glos) Limited
Unaudited Filleted Accounts
29 March 2023
Frampton Garage (South Glos) Limited
Registered number: 06833647
Balance Sheet
as at 29 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 538,007 546,011
Current assets
Debtors 4 35,918 29,239
Cash at bank and in hand 89,429 97,929
125,347 127,168
Creditors: amounts falling due within one year 5 (277,783) (315,159)
Net current liabilities (152,436) (187,991)
Total assets less current liabilities 385,571 358,020
Creditors: amounts falling due after more than one year 6 (269,993) (273,902)
Provisions for liabilities (7,593) (5,450)
Net assets 107,985 78,668
Capital and reserves
Called up share capital 10 10
Profit and loss account 107,975 78,658
Shareholders' funds 107,985 78,668
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs JA Endicott
Director
Approved by the board on 29 March 2024
Frampton Garage (South Glos) Limited
Notes to the Accounts
for the period from 31 March 2022 to 29 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Freehold buildings over 25 years
Plant and machinery 25% reducing balance
Office equipment over 3 years
Furniture and fixtures 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 14 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 31 March 2022 619,324 79,367 6,500 705,191
Additions - 24,891 - 24,891
At 29 March 2023 619,324 104,258 6,500 730,082
Depreciation
At 31 March 2022 103,146 52,476 3,558 159,180
Charge for the period 19,214 12,946 735 32,895
At 29 March 2023 122,360 65,422 4,293 192,075
Net book value
At 29 March 2023 496,964 38,836 2,207 538,007
At 30 March 2022 516,178 26,891 2,942 546,011
4 Debtors 2023 2022
£ £
Trade debtors 25,250 29,239
Other debtors 10,668 -
35,918 29,239
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 26,082 25,037
Trade creditors 145,864 104,348
Taxation and social security costs 64,149 58,332
Other creditors 41,688 127,442
277,783 315,159
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 247,983 273,902
Obligations under finance lease and hire purchase contracts 22,010 -
269,993 273,902
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 130,329 162,810
8 Controlling party
The controlling parties are Mr PS Endicott and Mrs JA Endicott by virtue of their ownership of 100% (50% each) of the issued ordinary share capital in the company.
9 Other information
Frampton Garage (South Glos) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Units 1-4 Crossley Farm Business Centre
Swan Lane
Winterbourne
Bristol
BS36 1RH
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