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REGISTERED NUMBER: 03346858


















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Eastern Garage Corringham Limited

Eastern Garage Corringham Limited (Registered number: 03346858)






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 8

Eastern Garage Corringham Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: G Law
S T Dorman
S L Dorman





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





REGISTERED NUMBER: 03346858





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Eastern Garage Corringham Limited (Registered number: 03346858)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,531 38,160
Investment property 5 750,000 750,000
776,531 788,160

CURRENT ASSETS
Stocks - 11,232
Debtors 6 10,018 19,970
Cash at bank 21,677 30,275
31,695 61,477
CREDITORS
Amounts falling due within one year 7 29,370 98,560
NET CURRENT ASSETS/(LIABILITIES) 2,325 (37,083 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

778,856

751,077

CREDITORS
Amounts falling due after more than one
year

8

(14,167

)

(27,128

)

PROVISIONS FOR LIABILITIES (103,274 ) (97,520 )
NET ASSETS 661,415 626,429

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 425,151 425,151
Retained earnings 236,164 201,178
SHAREHOLDERS' FUNDS 661,415 626,429

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.

Eastern Garage Corringham Limited (Registered number: 03346858)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 July 2024 and were signed on its behalf by:





G Law - Director


Eastern Garage Corringham Limited (Registered number: 03346858)

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

1. STATUTORY INFORMATION

Eastern Garage Corringham Limited is a private company, limited by shares , registered in Not specified/Other. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.3% straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

The current valuation is considered to be reasonable by the director and is based on prevailing market values of comparatively similar properties.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Eastern Garage Corringham Limited (Registered number: 03346858)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 80,743 8,180 3,238 92,161
Additions 35,000 - - 35,000
Disposals (80,743 ) - - (80,743 )
At 31 March 2024 35,000 8,180 3,238 46,418
DEPRECIATION
At 1 April 2023 43,148 8,180 2,673 54,001
Charge for year 8,750 - 284 9,034
Eliminated on disposal (43,148 ) - - (43,148 )
At 31 March 2024 8,750 8,180 2,957 19,887
NET BOOK VALUE
At 31 March 2024 26,250 - 281 26,531
At 31 March 2023 37,595 - 565 38,160

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023 39,031
Disposals (39,031 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 17,077
Eliminated on disposal (17,077 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 21,954

Eastern Garage Corringham Limited (Registered number: 03346858)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 750,000
NET BOOK VALUE
At 31 March 2024 750,000
At 31 March 2023 750,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 571,792
Valuation in 2018 25,000
Valuation in 2019 50,000
Valuation in 2021 50,000
Valuation in 2022 (175,000 )
Cost 228,208
750,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 10,018 19,970

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 6,970
Trade creditors 2,340 1,068
Taxation and social security 9,930 17,599
Other creditors 7,100 62,923
29,370 98,560

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 14,167 24,167
Hire purchase contracts - 2,961
14,167 27,128

Eastern Garage Corringham Limited (Registered number: 03346858)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 425,151

The fair value reserve represents potential gains which will only become realised if the investment property is disposed. At which point the gain will be available for distribution amongst the company's members. The deferred tax held in provision for liabilities will also crystallise as a current tax charge at the time of disposal.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Eastern Garage Corringham 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 Eastern Garage Corringham Limited for the year ended 31 March 2024 which comprise the Income Statement, 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 Eastern Garage Corringham 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 Eastern Garage Corringham Limited and state those matters that we have agreed to state to the Board of Directors of Eastern Garage Corringham 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 Eastern Garage Corringham Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Eastern Garage Corringham 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 Eastern Garage Corringham Limited. You consider that Eastern Garage Corringham 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 Eastern Garage Corringham 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.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


18 July 2024