IRIS Accounts Production v24.1.0.578 07314446 director 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh073144462022-07-31073144462023-07-31073144462022-08-012023-07-31073144462021-07-31073144462021-08-012022-07-31073144462022-07-3107314446ns15:EnglandWales2022-08-012023-07-3107314446ns14:PoundSterling2022-08-012023-07-3107314446ns10:Director12022-08-012023-07-3107314446ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3107314446ns10:SmallEntities2022-08-012023-07-3107314446ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3107314446ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3107314446ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3107314446ns10:FullAccounts2022-08-012023-07-3107314446ns10:RegisteredOffice2022-08-012023-07-3107314446ns5:CurrentFinancialInstruments2023-07-3107314446ns5:CurrentFinancialInstruments2022-07-3107314446ns5:Non-currentFinancialInstruments2023-07-3107314446ns5:Non-currentFinancialInstruments2022-07-3107314446ns5:ShareCapital2023-07-3107314446ns5:ShareCapital2022-07-3107314446ns5:RetainedEarningsAccumulatedLosses2023-07-3107314446ns5:RetainedEarningsAccumulatedLosses2022-07-3107314446ns5:PlantMachinery2022-08-012023-07-3107314446ns5:PlantMachinery2022-07-3107314446ns5:PlantMachinery2023-07-3107314446ns5:PlantMachinery2022-07-3107314446ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3107314446ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-31
REGISTERED NUMBER: 07314446 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023

FOR

EQUIPMENT4GARAGES.COM LIMITED

EQUIPMENT4GARAGES.COM LIMITED (REGISTERED NUMBER: 07314446)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EQUIPMENT4GARAGES.COM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTOR: R H Wilson





REGISTERED OFFICE: Smug Oak Stables
Smug Oak Lane
Bricket Wood
St Albans
Hertfordshire
AL2 3PN





REGISTERED NUMBER: 07314446 (England and Wales)





ACCOUNTANTS: Cook & Partners Limited
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

EQUIPMENT4GARAGES.COM LIMITED (REGISTERED NUMBER: 07314446)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,310 2,807

CURRENT ASSETS
Stocks 330,109 232,411
Debtors 5 126,762 80,526
Cash at bank and in hand 73,972 98,426
530,843 411,363
CREDITORS
Amounts falling due within one year 6 477,358 421,325
NET CURRENT ASSETS/(LIABILITIES) 53,485 (9,962 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,795

(7,155

)

CREDITORS
Amounts falling due after more than one
year

7

17,029

22,173
NET ASSETS/(LIABILITIES) 42,766 (29,328 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 42,765 (29,329 )
42,766 (29,328 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

EQUIPMENT4GARAGES.COM LIMITED (REGISTERED NUMBER: 07314446)

BALANCE SHEET - continued
31ST JULY 2023


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 16th April 2024 and were signed by:





R H Wilson - Director


EQUIPMENT4GARAGES.COM LIMITED (REGISTERED NUMBER: 07314446)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Equipment4garages.com 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

Accounting convention
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.

Going Concern Justification
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31 July 2023 have been prepared using the going concern basis of accounting.

Revenue
Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed.

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 etc - 25% on reducing balance and 20% 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 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.

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.

EQUIPMENT4GARAGES.COM LIMITED (REGISTERED NUMBER: 07314446)

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

2. ACCOUNTING POLICIES - continued

Leased assets
Where assets are financed by leasing agreements that give rights approximately to ownership ("finance leases") the assets are treated as if they had been purchased outright. The amount capitalised is the fair value of the asset concerned. The corresponding liability to the leasing company is included as an obligation under finance leases. Depreciation of leased assets is charged to the profit and loss account over the short of the lease terms and their useful lives. Leasing payments are treated as consisting of capital and interest elements, and interest is charged to the profit and loss account on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.

All other leases are treated as "operating leases" and the relevant annual rentals are charged to the profit and loss account on a straight line basis over the lease term; unless they relate to vacant leasehold properties in which case provision is made on a discounted basis for the net obligation under the lease. The unwinding of the discount is disclosed within interest payable and similar charges.

The company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard (1 January 2014) to continue to be charged over the period to the first market rent review rather than the term of the lease. For leases entered into on or after 1 January 2014, reverse premiums and similar incentives received to enter into operating lease agreements are released to profit or loss over the term of the lease.

Pension costs
The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable for the period by the company to the fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 42,444
Additions 4,478
At 31st July 2023 46,922
DEPRECIATION
At 1st August 2022 39,637
Charge for year 975
At 31st July 2023 40,612
NET BOOK VALUE
At 31st July 2023 6,310
At 31st July 2022 2,807

EQUIPMENT4GARAGES.COM LIMITED (REGISTERED NUMBER: 07314446)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,380 9,107
Other debtors 116,382 71,419
126,762 80,526

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,254 7,693
Trade creditors 30,575 30,681
Taxation and social security 58,597 38,294
Other creditors 373,932 344,657
477,358 421,325

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,029 22,173