IRIS Accounts Production v24.1.9.2 04122613 Board of Directors 1.12.23 31.3.24 31.3.24 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041226132023-11-30041226132024-03-31041226132023-12-012024-03-31041226132023-03-31041226132023-04-012023-11-30041226132023-11-3004122613ns15:EnglandWales2023-12-012024-03-3104122613ns14:PoundSterling2023-12-012024-03-3104122613ns10:Director12023-12-012024-03-3104122613ns10:PrivateLimitedCompanyLtd2023-12-012024-03-3104122613ns10:SmallEntities2023-12-012024-03-3104122613ns10:AuditExempt-NoAccountantsReport2023-12-012024-03-3104122613ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-03-3104122613ns10:SmallCompaniesRegimeForAccounts2023-12-012024-03-3104122613ns10:FullAccounts2023-12-012024-03-310412261312023-12-012024-03-3104122613ns10:Director22023-12-012024-03-3104122613ns10:CompanySecretary12023-12-012024-03-3104122613ns10:RegisteredOffice2023-12-012024-03-3104122613ns5:CurrentFinancialInstruments2024-03-3104122613ns5:CurrentFinancialInstruments2023-11-3004122613ns5:ShareCapital2024-03-3104122613ns5:ShareCapital2023-11-3004122613ns5:RetainedEarningsAccumulatedLosses2024-03-3104122613ns5:RetainedEarningsAccumulatedLosses2023-11-3004122613ns5:NetGoodwill2023-12-012024-03-3104122613ns5:IntangibleAssetsOtherThanGoodwill2023-12-012024-03-3104122613ns5:PlantMachinery2023-12-012024-03-3104122613ns5:NetGoodwill2023-11-3004122613ns5:NetGoodwill2024-03-3104122613ns5:NetGoodwill2023-11-3004122613ns5:PlantMachinery2023-11-3004122613ns5:PlantMachinery2024-03-3104122613ns5:PlantMachinery2023-11-3004122613ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104122613ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-30
REGISTERED NUMBER: 04122613 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2023 TO 31 MARCH 2024

FOR

CORNER GARAGE CARS LIMITED

CORNER GARAGE CARS LIMITED (REGISTERED NUMBER: 04122613)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 DECEMBER 2023 TO 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CORNER GARAGE CARS LIMITED

COMPANY INFORMATION
for the Period 1 DECEMBER 2023 TO 31 MARCH 2024







DIRECTORS: Mr M S Halliwell
Mr N J Halliwell





SECRETARY: Mr N J Halliwell





REGISTERED OFFICE: 327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN





REGISTERED NUMBER: 04122613 (England and Wales)





ACCOUNTANTS: Whitehead & Howarth
327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN

CORNER GARAGE CARS LIMITED (REGISTERED NUMBER: 04122613)

BALANCE SHEET
31 MARCH 2024

31.3.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,966 3,448
3,966 3,448

CURRENT ASSETS
Stocks 234,461 265,340
Debtors 6 3,290 -
Cash at bank 439,540 387,075
677,291 652,415
CREDITORS
Amounts falling due within one year 7 196,472 186,074
NET CURRENT ASSETS 480,819 466,341
TOTAL ASSETS LESS CURRENT
LIABILITIES

484,785

469,789

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 484,783 469,787
SHAREHOLDERS' FUNDS 484,785 469,789

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

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 Board of Directors and authorised for issue on 3 August 2024 and were signed on its behalf by:



Mr M S Halliwell - Director


CORNER GARAGE CARS LIMITED (REGISTERED NUMBER: 04122613)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 DECEMBER 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Corner Garage Cars 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

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.

Turnover
Turnover comprises all sales income arising in and attributable to the year under review and is stated net of Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance

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 period 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 period 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CORNER GARAGE CARS LIMITED (REGISTERED NUMBER: 04122613)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 DECEMBER 2023 TO 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 31 March 2024 30,000
AMORTISATION
At 1 December 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 30 November 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 December 2023 19,079
Additions 2,794
At 31 March 2024 21,873
DEPRECIATION
At 1 December 2023 16,586
Charge for period 1,321
At 31 March 2024 17,907
NET BOOK VALUE
At 31 March 2024 3,966
At 30 November 2023 2,493

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.11.23
£    £   
Trade debtors 3,290 -

CORNER GARAGE CARS LIMITED (REGISTERED NUMBER: 04122613)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 DECEMBER 2023 TO 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.11.23
£    £   
Trade creditors 7,835 -
Tax 15,209 27,450
Social security and other taxes 5,254 2,569
VAT 16,257 4,092
Directors' current accounts 122,829 131,430
Accruals and deferred income 29,088 20,533
196,472 186,074

8. RELATED PARTY DISCLOSURES

Control

The company is controlled by Mr. N.J. Halliwell, a director and Mr. M. S. Halliwell, a director.

Transactions

Dividends
The company paid total dividends of £2,000 in the year under review (2023: £4,000) divisible as follows to the following shareholders:

Mr. N.J. Halliwell, a director £1,000 (2023: £2,000).
Mr. M.S. Halliwell, a director £1,000 (2023: £2,000).

Loans to the Company
As at 31/3/2023 the following shareholders had made loans to the company as detailed below:

Mr. N.J. Halliwell, a director £61,414 (2023: £65,715).
Mr. M.S. Halliwell, a director £61,414 (2023: £65,715).

Interest
The company paid interest on the above loans to the company of £8,065 in the year under review (2023: £8,858).