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Company registration number: 09996086
PONTESBURY GARAGE SERVICES LIMITED
31 March 2024
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
PONTESBURY GARAGE SERVICES LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
PONTESBURY GARAGE SERVICES LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mr M N Davies
Mr S Greenwood
Company number 09996086
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Business address Unit 12 Malehurst Industrial Estate
Malehurst
Pontesbury
Shropshire
SY5 0EQ
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
PONTESBURY GARAGE SERVICES LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PONTESBURY GARAGE SERVICES LIMITED
YEAR ENDED 31 MARCH 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pontesbury Garage Services Limited for the year ended 31 March 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Pontesbury Garage Services Limited, as a body, in accordance with the terms of our engagement letter dated 14 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Pontesbury Garage Services Limited and state those matters that we have agreed to state to the board of directors of Pontesbury Garage Services Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pontesbury Garage Services Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Pontesbury Garage Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pontesbury Garage Services Limited. You consider that Pontesbury Garage Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Pontesbury Garage Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
12 June 2024
PONTESBURY GARAGE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 33,542 26,847
_______ _______
33,542 26,847
Current assets
Stocks 1,067 4,220
Debtors 6 7,916 11,666
Cash at bank and in hand 4,795 18,433
_______ _______
13,778 34,319
Creditors: amounts falling due
within one year 7 ( 45,817) ( 55,549)
_______ _______
Net current liabilities ( 32,039) ( 21,230)
_______ _______
Total assets less current liabilities 1,503 5,617
Creditors: amounts falling due
after more than one year 8 ( 11,667) ( 22,432)
Provisions for liabilities - ( 1,334)
_______ _______
Net liabilities ( 10,164) ( 18,149)
_______ _______
Capital and reserves
Called up share capital 3 3
Profit and loss account ( 10,167) ( 18,152)
_______ _______
Shareholders deficit ( 10,164) ( 18,149)
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 June 2024 , and are signed on behalf of the board by:
Mr M N Davies Mr S Greenwood
Director Director
Company registration number: 09996086
PONTESBURY GARAGE SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 MARCH 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2022 3 ( 37,840) ( 37,837)
Profit for the year 19,688 19,688
_______ _______ _______
Total comprehensive income for the year - 19,688 19,688
_______ _______ _______
At 31 March 2023 and 1 April 2023 3 ( 18,152) ( 18,149)
Profit for the year 7,985 7,985
_______ _______ _______
Total comprehensive income for the year - 7,985 7,985
_______ _______ _______
At 31 March 2024 3 ( 10,167) ( 10,164)
_______ _______ _______
PONTESBURY GARAGE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is insolvent and is dependant upon the continued support of the directors.
Turnover
Turnover is measured at the value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - over 5 years
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Stocks
Stock is included at the lower of cost or estimated selling price less costs to complete and sell.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 4 ).
5. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 April 2023 676 52,739 4,384 6,000 63,799
Additions - 3,547 270 7,950 11,767
Disposals - - - ( 250) ( 250)
_______ _______ _______ _______ _______
At 31 March 2024 676 56,286 4,654 13,700 75,316
_______ _______ _______ _______ _______
Depreciation
At 1 April 2023 676 33,220 1,786 1,270 36,952
Charge for the year - 3,324 396 1,268 4,988
Disposals - - - ( 166) ( 166)
_______ _______ _______ _______ _______
At 31 March 2024 676 36,544 2,182 2,372 41,774
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2024 - 19,742 2,472 11,328 33,542
_______ _______ _______ _______ _______
At 31 March 2023 - 19,519 2,598 4,730 26,847
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 1,441 5,440
Other debtors 6,475 6,226
_______ _______
7,916 11,666
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,508 15,942
Trade creditors 16,951 16,509
Social security and other taxes 5,418 6,813
Other creditors 12,940 16,285
_______ _______
45,817 55,549
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 11,667 22,432
_______ _______