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REGISTERED NUMBER: 00627406 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Squires Garage And Road Transport
Limited

Squires Garage And Road Transport
Limited (Registered number: 00627406)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Squires Garage And Road Transport
Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B W Squire
M A Squire





SECRETARY: B W Squire





REGISTERED OFFICE: Rear Of 51 High Street
Bloxwich
Walsall
West Midlands
WS3 2DF





REGISTERED NUMBER: 00627406 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Squires Garage And Road Transport
Limited (Registered number: 00627406)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 312,800 337,206

CURRENT ASSETS
Stocks 7,765 12,760
Debtors 5 30,175 71,636
Cash at bank 86,763 42,569
124,703 126,965
CREDITORS
Amounts falling due within one year 6 (118,712 ) (138,033 )
NET CURRENT ASSETS/(LIABILITIES) 5,991 (11,068 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,791

326,138

PROVISIONS FOR LIABILITIES 7 (78,200 ) (84,302 )
NET ASSETS 240,591 241,836

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 235,591 236,836
SHAREHOLDERS' FUNDS 240,591 241,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Squires Garage And Road Transport
Limited (Registered number: 00627406)

Balance Sheet - continued
31 March 2024


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.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:





B W Squire - Director


Squires Garage And Road Transport
Limited (Registered number: 00627406)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Squires Garage And Road Transport 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.

There are no material departures from the standard.

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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 5% on cost
Computer equipment - 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.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


Squires Garage And Road Transport
Limited (Registered number: 00627406)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

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 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 2,700 557,190 3,998 563,888
Additions 2,980 - - 2,980
At 31 March 2024 5,680 557,190 3,998 566,868
DEPRECIATION
At 1 April 2023 1,904 221,056 3,722 226,682
Charge for year 159 27,151 76 27,386
At 31 March 2024 2,063 248,207 3,798 254,068
NET BOOK VALUE
At 31 March 2024 3,617 308,983 200 312,800
At 31 March 2023 796 336,134 276 337,206

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,178 8,173
Other debtors 5,997 63,463
30,175 71,636

Squires Garage And Road Transport
Limited (Registered number: 00627406)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 2,087
Trade creditors 22,569 12,954
Taxation and social security 27,611 38,741
Other creditors 68,532 84,251
118,712 138,033

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 78,200 84,302

Deferred
tax
£   
Balance at 1 April 2023 84,302
Provided during year (6,102 )
Balance at 31 March 2024 78,200

8. RELATED PARTY DISCLOSURES

The director has an interest in the property from which the company trades. No rent is charged to the company in respect of this property.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Squires Garage And Road Transport
Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Squires Garage And Road Transport Limited for the year ended 31 March 2024 which comprise the Profit and loss account, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Squires Garage And Road Transport Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Squires Garage And Road Transport Limited and state those matters that we have agreed to state to the Board of Directors of Squires Garage And Road Transport Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Squires Garage And Road Transport Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Squires Garage And Road Transport 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 Squires Garage And Road Transport Limited. You consider that Squires Garage And Road Transport 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 Squires Garage And Road Transport 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.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


25 July 2024