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REGISTERED NUMBER: 02224839 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

STATHERN GARAGE LIMITED

STATHERN GARAGE LIMITED (REGISTERED NUMBER: 02224839)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STATHERN GARAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: Mr AM Davis





REGISTERED OFFICE: Granville Hall
Granville Road
Leicester
Leicestershire
LE1 7RU





REGISTERED NUMBER: 02224839 (England and Wales)

STATHERN GARAGE LIMITED (REGISTERED NUMBER: 02224839)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,638 74,656
Investments 5 8,000 8,000
72,638 82,656

CURRENT ASSETS
Stocks 26,112 16,875
Debtors 6 70,332 85,616
Cash at bank and in hand 154,112 145,075
250,556 247,566
CREDITORS
Amounts falling due within one year 7 170,725 164,339
NET CURRENT ASSETS 79,831 83,227
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,469

165,883

CREDITORS
Amounts falling due after more than one
year

8

(47,831

)

(59,700

)

PROVISIONS FOR LIABILITIES (7,760 ) (11,989 )
NET ASSETS 96,878 94,194

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 94,878 92,194
SHAREHOLDERS' FUNDS 96,878 94,194

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

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

STATHERN GARAGE LIMITED (REGISTERED NUMBER: 02224839)

BALANCE SHEET - continued
31 OCTOBER 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 29 July 2024 and were signed by:





Mr AM Davis - Director


STATHERN GARAGE LIMITED (REGISTERED NUMBER: 02224839)

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


1. STATUTORY INFORMATION

Stathern 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% 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 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.


STATHERN GARAGE LIMITED (REGISTERED NUMBER: 02224839)

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


2. 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 12 ) .

STATHERN GARAGE LIMITED (REGISTERED NUMBER: 02224839)

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


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022 56,088 131,154 23,902
Additions 8,653 232 1,631
At 31 October 2023 64,741 131,386 25,533
DEPRECIATION
At 1 November 2022 26,650 128,583 16,115
Charge for year 11,894 1,486 1,884
At 31 October 2023 38,544 130,069 17,999
NET BOOK VALUE
At 31 October 2023 26,197 1,317 7,534
At 31 October 2022 29,438 2,571 7,787

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 74,100 9,978 295,222
Additions 2,434 2,417 15,367
At 31 October 2023 76,534 12,395 310,589
DEPRECIATION
At 1 November 2022 39,240 9,978 220,566
Charge for year 9,324 797 25,385
At 31 October 2023 48,564 10,775 245,951
NET BOOK VALUE
At 31 October 2023 27,970 1,620 64,638
At 31 October 2022 34,860 - 74,656

STATHERN GARAGE LIMITED (REGISTERED NUMBER: 02224839)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022
and 31 October 2023 55,333
DEPRECIATION
At 1 November 2022 26,411
Charge for year 7,231
At 31 October 2023 33,642
NET BOOK VALUE
At 31 October 2023 21,691
At 31 October 2022 28,922

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2022
and 31 October 2023 8,000
NET BOOK VALUE
At 31 October 2023 8,000
At 31 October 2022 8,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 60,773 73,478
Other debtors 9,559 12,138
70,332 85,616

STATHERN GARAGE LIMITED (REGISTERED NUMBER: 02224839)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,792 6,792
Hire purchase contracts 6,313 9,116
Trade creditors 83,334 61,019
Amounts owed to group undertakings 28,022 41,977
Taxation and social security 34,073 32,916
Other creditors 12,191 12,519
170,725 164,339

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 30,245 35,801
Hire purchase contracts 17,586 23,899
47,831 59,700

9. PENSION COMMITMENTS

The company operates a pension scheme. The assets of the scheme are held separately from those of the company within independently administered funds. The charge for the year was £3,489 (2022: £2,928). Contributions of £196 (2022: £548) were unpaid at the year end.

10. ULTIMATE CONTROLLING PARTY

The company's ultimate parent company is Stathern Investments Limited (07083004). The accounts of Stathern Investments Limited can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.