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REGISTERED NUMBER: 10516495 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

AINSWORTHS GARAGE LIMITED

AINSWORTHS GARAGE LIMITED (REGISTERED NUMBER: 10516495)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


AINSWORTHS GARAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs K L Potts
Mr R D Ainsworth
Mr R D Ainsworth (Junior)



REGISTERED OFFICE: Canal Side
North Lonsdale Road
Ulverston
Cumbria
LA12 9ER



REGISTERED NUMBER: 10516495 (England and Wales)



BANKERS: National Westminster Bank plc
113 Dalton Road
Barrow-in-Furness
Cumbria
LA14 1WY

AINSWORTHS GARAGE LIMITED (REGISTERED NUMBER: 10516495)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 127,940 160,173

CURRENT ASSETS
Stocks 3,000 3,000
Debtors 99,350 86,975
Cash at bank and in hand 176,629 110,640
278,979 200,615
CREDITORS
Amounts falling due within one year 126,921 119,582
NET CURRENT ASSETS 152,058 81,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

279,998

241,206

CREDITORS
Amounts falling due after more than one
year

145,496

138,859
NET ASSETS 134,502 102,347

CAPITAL AND RESERVES
Called up share capital 6 12 12
Retained earnings 134,490 102,335
SHAREHOLDERS' FUNDS 134,502 102,347

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

AINSWORTHS GARAGE LIMITED (REGISTERED NUMBER: 10516495)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 5 August 2024 and were signed on its behalf by:




Mr R D Ainsworth - Director Mrs K L Potts - Director




Mr R D Ainsworth (Junior) - Director


AINSWORTHS GARAGE LIMITED (REGISTERED NUMBER: 10516495)

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

1. STATUTORY INFORMATION

Ainsworths 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% 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.

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.

Rent received
Rent received is shown in other income and calculated on the accruals basis.

Grants
Grants received are credited to profit and loss account in the financial period in which they are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

AINSWORTHS GARAGE LIMITED (REGISTERED NUMBER: 10516495)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 329,827
Additions 61,198
Disposals (98,859 )
At 31 December 2023 292,166
DEPRECIATION
At 1 January 2023 169,654
Charge for year 32,978
Eliminated on disposal (38,406 )
At 31 December 2023 164,226
NET BOOK VALUE
At 31 December 2023 127,940
At 31 December 2022 160,173

The net book value of tangible fixed assets includes £64,253 (2022: £39,432) in respect of assets held under hire purchase agreements. The amount of depreciation in respect of such assets amounted to £17,368,(2022: £11,156) for the financial year.

5. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 53,989 28,995

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
10 Ordinary £1 10 10
1 A Dividend £1 1 1
1 B Dividend £1 1 1
12 12

AINSWORTHS GARAGE LIMITED (REGISTERED NUMBER: 10516495)

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

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mrs K L Potts
Balance outstanding at start of year - 80
Amounts advanced 377 -
Amounts repaid - (80 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 377 -

8. RELATED PARTY DISCLOSURES

At 31st December 2023, Mr R D Ainsworth Senior, a director of the company, had on an unsecured interest free basis advanced £119,898 (prior year :£136,459) to the company, including £100,000 on a long term basis.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R D Ainsworth.