West End Garage (Car & Light Commercial) Limited 12996437 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Maintenance & repair of motor vehicles Digita Accounts Production Advanced 6.30.9574.0 true false true true 2024-04-30 12996437 2023-04-01 2024-03-31 12996437 2024-03-31 12996437 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 12996437 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 12996437 core:CurrentFinancialInstruments 2024-03-31 12996437 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12996437 core:Non-currentFinancialInstruments 2024-03-31 12996437 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 12996437 core:Goodwill 2024-03-31 12996437 core:AdditionsToInvestments 2024-03-31 12996437 core:FurnitureFittingsToolsEquipment 2024-03-31 12996437 core:MotorVehicles 2024-03-31 12996437 core:OtherPropertyPlantEquipment 2024-03-31 12996437 core:Subsidiary1 2024-03-31 12996437 bus:SmallEntities 2023-04-01 2024-03-31 12996437 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12996437 bus:FilletedAccounts 2023-04-01 2024-03-31 12996437 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12996437 bus:RegisteredOffice 2023-04-01 2024-03-31 12996437 bus:Director1 2023-04-01 2024-03-31 12996437 bus:Director2 2023-04-01 2024-03-31 12996437 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12996437 bus:Agent1 2023-04-01 2024-03-31 12996437 core:Goodwill 2023-04-01 2024-03-31 12996437 core:FurnitureFittings 2023-04-01 2024-03-31 12996437 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 12996437 core:MotorVehicles 2023-04-01 2024-03-31 12996437 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 12996437 core:PlantMachinery 2023-04-01 2024-03-31 12996437 core:Subsidiary1 2023-04-01 2024-03-31 12996437 core:Subsidiary1 1 2023-04-01 2024-03-31 12996437 core:Subsidiary1 countries:England 2023-04-01 2024-03-31 12996437 countries:England 2023-04-01 2024-03-31 12996437 2023-03-31 12996437 core:Goodwill 2023-03-31 12996437 core:FurnitureFittingsToolsEquipment 2023-03-31 12996437 core:MotorVehicles 2023-03-31 12996437 core:OtherPropertyPlantEquipment 2023-03-31 12996437 2022-04-01 2023-03-31 12996437 2023-03-31 12996437 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 12996437 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 12996437 core:CurrentFinancialInstruments 2023-03-31 12996437 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12996437 core:Non-currentFinancialInstruments 2023-03-31 12996437 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 12996437 core:Goodwill 2023-03-31 12996437 core:FurnitureFittingsToolsEquipment 2023-03-31 12996437 core:MotorVehicles 2023-03-31 12996437 core:OtherPropertyPlantEquipment 2023-03-31 12996437 core:Subsidiary1 1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 12996437

West End Garage (Car & Light Commercial) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

West End Garage (Car & Light Commercial) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

West End Garage (Car & Light Commercial) Limited

Company Information

Directors

D Taylor

K Taylor

Registered office

Station Yard
Dropping Lane
Bruton
Somerset
BA10 0NL

Accountants

Gilbie Roberts Limited
Chartered Certified Accountants
1 Church Terrace
Yeovil
Somerset
BA20 1HX

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
West End Garage (Car & Light Commercial) Limited
for the 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 accounts of West End Garage (Car & Light Commercial) Limited for the year ended 31 March 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of West End Garage (Car & Light Commercial) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of West End Garage (Car & Light Commercial) Limited and state those matters that we have agreed to state to the Board of Directors of West End Garage (Car & Light Commercial) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than West End Garage (Car & Light Commercial) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that West End Garage (Car & Light Commercial) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of West End Garage (Car & Light Commercial) Limited. You consider that West End Garage (Car & Light Commercial) 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 accounts of West End Garage (Car & Light Commercial) 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 accounts.

......................................

Gilbie Roberts Limited
Chartered Certified Accountants
1 Church Terrace
Yeovil
Somerset
BA20 1HX

6 August 2024

 

West End Garage (Car & Light Commercial) Limited

(Registration number: 12996437)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

39,200

44,800

Tangible assets

5

78,213

86,762

Investments

6

718,967

-

 

836,380

131,562

Current assets

 

Debtors

7

101,601

87,704

Cash at bank and in hand

 

84,363

102,214

 

185,964

189,918

Creditors: Amounts falling due within one year

8

(344,170)

(196,013)

Net current liabilities

 

(158,206)

(6,095)

Total assets less current liabilities

 

678,174

125,467

Creditors: Amounts falling due after more than one year

8

(440,194)

(8,277)

Net assets

 

237,980

117,190

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

237,979

117,189

Shareholders' funds

 

237,980

117,190

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 August 2024 and signed on its behalf by:
 

 

West End Garage (Car & Light Commercial) Limited

(Registration number: 12996437)
Balance Sheet as at 31 March 2024

.........................................
D Taylor
Director

 

West End Garage (Car & Light Commercial) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Station Yard
Dropping Lane
Bruton
Somerset
BA10 0NL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

West End Garage (Car & Light Commercial) Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

Fixtures and fittings

15% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

West End Garage (Car & Light Commercial) Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

West End Garage (Car & Light Commercial) Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 9).

 

West End Garage (Car & Light Commercial) Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

56,000

56,000

At 31 March 2024

56,000

56,000

Amortisation

At 1 April 2023

11,200

11,200

Amortisation charge

5,600

5,600

At 31 March 2024

16,800

16,800

Carrying amount

At 31 March 2024

39,200

39,200

At 31 March 2023

44,800

44,800

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

12,774

41,100

68,510

122,384

Additions

744

10,970

5,165

16,879

Disposals

-

(11,500)

-

(11,500)

At 31 March 2024

13,518

40,570

73,675

127,763

Depreciation

At 1 April 2023

2,486

15,694

17,442

35,622

Charge for the year

1,655

7,013

8,435

17,103

Eliminated on disposal

-

(3,175)

-

(3,175)

At 31 March 2024

4,141

19,532

25,877

49,550

Carrying amount

At 31 March 2024

9,377

21,038

47,798

78,213

At 31 March 2023

10,288

25,406

51,068

86,762

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings.
 

 

West End Garage (Car & Light Commercial) Limited

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

6

Investments

2024
£

2023
£

Investments in subsidiaries

718,967

-

Subsidiaries

£

Cost or valuation

Additions

718,967

Provision

Carrying amount

At 31 March 2024

718,967

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

The West End Garage (Bruton) Limited

Station Approach
Station Yard
Bruton
Somerset
BA10 0NL

England

Ordinary shares

100%

0%

Subsidiary undertakings

The West End Garage (Bruton) Limited

The principal activity of The West End Garage (Bruton) Limited is the maintenance & repair of commercial vehicles. Its financial period end is 30 April.

7

Debtors

 

West End Garage (Car & Light Commercial) Limited

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

Current

2024
£

2023
£

Trade debtors

100,556

83,996

Prepayments

895

258

Other debtors

150

3,450

 

101,601

87,704

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

153,717

21,219

Trade creditors

 

62,304

44,427

Taxation and social security

 

57,758

36,924

Accruals and deferred income

 

1,851

1,850

Other creditors

 

68,540

91,593

 

344,170

196,013

Included within loans and borrowings is £150,000, which represents the amount payable within 12 months in respect of the purchase of the subsidiary company.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

440,194

8,277

Included within loans above is £435,634 which represents the long term portion of the amount due for the purchase of the subsidiary company and is payable monthly at £100,000pa .

 

West End Garage (Car & Light Commercial) Limited

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

9

Share capital

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

4,560

7,778

Other borrowings

435,634

499

440,194

8,277

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

3,219

3,219

Other borrowings

150,498

18,000

153,717

21,219

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £187,056 (2023 - £192,360).