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REGISTERED NUMBER: 00605551 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PARKFOOT GARAGE LIMITED

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


PARKFOOT GARAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: D C Charman
M M Whitlock
N S Charman



SECRETARY: S J Sutch



REGISTERED OFFICE: 263-265 London Road
West Malling
Kent
ME19 5AE



REGISTERED NUMBER: 00605551 (England and Wales)



SENIOR STATUTORY AUDITOR: Stuart Rosling FCCA



AUDITORS: Ashdown Hurrey Auditors Limited
Statutory Auditor
20 Havelock Road
Hastings
East Sussex
TN34 1BP

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their strategic report for the year ended 31 January 2024.

REVIEW OF BUSINESS
The directors are pleased to report that the company performed somewhat ahead of expectations during the financial year under review. Shop sales and motor fuel sales volumes were up on the previous year and with stable or improved margins, while car wash sales more than held their own.

Turnover for the year under review was £13,896,597, up 5.6% on the previous year, giving rise to an increase in gross profit of 17%. This reflects improved sales and margins.

The photovoltaic panels installed at the company's premises at Parkfoot West Malling towards the end of the previous year produced about 15% of the site's requirement for electricity, somewhat below expectation and reflecting unsettled weather, particularly in the peak summer months of July and August. In mitigation of this, however, as wholesale energy prices stabilised the company was able to contract for electricity for three years at advantageous rates.

The new 50:50 joint venture - Aquatec Systems Ltd - opened its first location at Ramsgate in November 2023. Early indications, particularly for the car wash aspect of the business, are encouraging.

PRINCIPAL RISKS AND UNCERTAINTIES
Fuel volumes - The transition away from internal combustion engine powered vehicles continues to present a medium to long term challenge to the motor fuel retail industry. The directors consider, however, that the strength of the company's non-fuel retail offer provides a competitive advantage that will sustain the motor fuel business through the lengthy transition phase.

FUTURE DEVELOPMENTS
The refit of the main Parkfoot store has been postponed to early 2025 to ensure that the plans met the requirements of a rapidly evolving retail environment.

ON BEHALF OF THE BOARD:





D C Charman - Director


10 August 2024

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their report with the financial statements of the company for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of operating a motor fuel service station with a convenience store.

DIVIDENDS
The total distribution of dividends for the year ended 31 January 2024 was £186,000 (2023: £156,000).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

D C Charman
M M Whitlock
N S Charman

Other changes in directors holding office are as follows:

S Charman - deceased 8 September 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024


AUDITORS
The auditors, Ashdown Hurrey Auditors Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:




D C Charman - Director


10 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PARKFOOT GARAGE LIMITED

Opinion
We have audited the financial statements of Parkfoot Garage Limited (the 'company') for the year ended 31 January 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PARKFOOT GARAGE LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

During the planning stage of this audit we considered the likelihood of irregularities around laws and regulations relevant to the company, including enquiry of management and those charged with governance. These were also discussed during the audit planning meeting held by the team. We reviewed the company's systems and controls in place, and formed an assessment as to their operational effectiveness.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to:
- The financial reporting standard; FRS102
- Employment law
- Food safety
- Health and safety

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.

During the course of this audit the team discussed this area with senior members of the company's staff, including directors, and also carried out a review of legal expenses for evidence of any issues.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach.

We are therefore of the opinion that given the risk level identified, our procedures planned and undertaken, are adequate for detecting irregularities.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PARKFOOT GARAGE LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stuart Rosling FCCA (Senior Statutory Auditor)
for and on behalf of Ashdown Hurrey Auditors Limited
Statutory Auditor
20 Havelock Road
Hastings
East Sussex
TN34 1BP

12 August 2024

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   

TURNOVER 13,896,597 13,157,703

Cost of sales (12,591,568 ) (12,041,648 )
GROSS PROFIT 1,305,029 1,116,055

Administrative expenses (704,550 ) (641,783 )
600,479 474,272

Other operating income - 3,892
OPERATING PROFIT 4 600,479 478,164

Interest receivable and similar income 17,811 3,846
618,290 482,010

Interest payable and similar expenses 5 (159,594 ) (101,871 )
PROFIT BEFORE TAXATION 458,696 380,139

Tax on profit 6 (121,647 ) (128,832 )
PROFIT FOR THE FINANCIAL YEAR 337,049 251,307

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

337,049

251,307

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 1,151,856 1,317,115
Investments 9 954,398 468,968
2,106,254 1,786,083

CURRENT ASSETS
Stocks 10 263,076 257,986
Debtors 11 192,845 140,745
Cash at bank and in hand 986,127 1,241,635
1,442,048 1,640,366
CREDITORS
Amounts falling due within one year 12 772,838 694,734
NET CURRENT ASSETS 669,210 945,632
TOTAL ASSETS LESS CURRENT LIABILITIES 2,775,464 2,731,715

CREDITORS
Amounts falling due after more than one year 13 (1,897,354 ) (1,977,363 )

PROVISIONS FOR LIABILITIES 16 (138,412 ) (165,703 )
NET ASSETS 739,698 588,649

CAPITAL AND RESERVES
Called up share capital 17 25,000 25,000
Capital redemption reserve 18 26,270 26,270
Retained earnings 18 688,428 537,379
SHAREHOLDERS' FUNDS 739,698 588,649

The financial statements were approved by the Board of Directors and authorised for issue on 10 August 2024 and were signed on its behalf by:




D C Charman - Director



M M Whitlock - Director


PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 February 2022 25,000 442,072 26,270 493,342

Changes in equity
Dividends - (156,000 ) - (156,000 )
Total comprehensive income - 251,307 - 251,307
Balance at 31 January 2023 25,000 537,379 26,270 588,649

Changes in equity
Dividends - (186,000 ) - (186,000 )
Total comprehensive income - 337,049 - 337,049
Balance at 31 January 2024 25,000 688,428 26,270 739,698

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 750,953 598,848
Interest paid (159,594 ) (101,871 )
Tax paid (90,236 ) (81,470 )
Net cash from operating activities 501,123 415,507

Cash flows from investing activities
Purchase of tangible fixed assets (21,749 ) (173,721 )
Purchase of fixed asset investments - (438 )
Loan to joint venture (485,430 ) (468,480 )
Interest received 17,811 3,846
Net cash from investing activities (489,368 ) (638,793 )

Cash flows from financing activities
New loans in year - 2,115,750
Loan repayments in year (81,263 ) (1,154,718 )
Amount introduced by directors - 32
Amount withdrawn by directors - (291 )
Equity dividends paid (186,000 ) (156,000 )
Net cash from financing activities (267,263 ) 804,773

(Decrease)/increase in cash and cash equivalents (255,508 ) 581,487
Cash and cash equivalents at beginning of
year

2

1,241,635

660,148

Cash and cash equivalents at end of year 2 986,127 1,241,635

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
31.1.24 31.1.23
£    £   
Profit before taxation 458,696 380,139
Depreciation charges 187,008 195,599
Loss on disposal of fixed assets - 18,891
Finance costs 159,594 101,871
Finance income (17,811 ) (3,846 )
787,487 692,654
Increase in stocks (5,090 ) (90,459 )
Increase in trade and other debtors (52,100 ) (27,496 )
Increase in trade and other creditors 20,656 24,149
Cash generated from operations 750,953 598,848

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 986,127 1,241,635
Year ended 31 January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 1,241,635 660,148


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank and in hand 1,241,635 (255,508 ) 986,127
1,241,635 (255,508 ) 986,127
Debt
Debts falling due within 1 year (84,530 ) 1,254 (83,276 )
Debts falling due after 1 year (1,977,363 ) 80,009 (1,897,354 )
(2,061,893 ) 81,263 (1,980,630 )
Total (820,258 ) (174,245 ) (994,503 )

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Parkfoot 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The company's statement of financial position shows net current assets of £669,440 (2023 - Net current assets: £945,632).

In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements.

The Directors believe that the ability of the company to continue to operate its sales through the motor fuel service station and convenience store, will enable the company to continue its operations and settle its obligations for this period in the normal course of business.

On the basis of this consideration, the directors are satisfied that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they consider that no material uncertainty exists. As a result, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements.

Turnover
Turnover represents the sale of motor fuels and convenience store items, food and beverages, excluding value added tax, recognised at the point of sale to the customer.

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance.

Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the customer, usually on transfer of goods, the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will then flow to the company.

All turnover is from the UK.

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- 8%, 10% on cost
Plant and machinery- 10%, 20%, 25% on cost
Computer equipment- 20% on cost
Motor vehicles- 23% reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

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


PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 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.

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.

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
31.1.24 31.1.23
£    £   
Wages and salaries 1,196,489 1,050,319
Social security costs 80,967 72,354
Other pension costs 24,196 21,622
1,301,652 1,144,295

The average number of employees during the year was as follows:
31.1.24 31.1.23

Shop 39 39
Butchery 7 9
Bakery 5 5
Management 2 2
Directors 3 3
Finance 2 2
58 60

31.1.24 31.1.23
£    £   
Directors' remuneration 109,821 116,160
Directors' pension contributions to money purchase schemes 5,709 1,900

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

31.1.24 31.1.23
£    £   
Hire of plant and machinery 3,886 2,474
Depreciation - owned assets 187,008 195,600
Loss on disposal of fixed assets - 18,891
Auditors' remuneration 11,170 8,160
Auditors remuneration non audit work - 279

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.1.24 31.1.23
£    £   
Bank loan interest 159,594 101,871

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.1.24 31.1.23
£    £   
Current tax:
UK corporation tax 148,938 90,174

Deferred tax (27,291 ) 38,658
Tax on profit 121,647 128,832

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.1.24 31.1.23
£    £   
Profit before tax 458,696 380,139
Profit multiplied by the standard rate of corporation tax in the UK of 24.030%
(2023 - 19%)

110,225

72,226

Effects of:
Expenses not deductible for tax purposes - 78
Depreciation in excess of capital allowances 38,713 17,870
Deferred Tax - Movement (27,291 ) 38,658
Total tax charge 121,647 128,832

7. DIVIDENDS
31.1.24 31.1.23
£    £   
Ordinary shares of £1 each
Interim paid 186,000 156,000

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. TANGIBLE FIXED ASSETS
Improvements
to Plant and
Land property machinery
£    £    £   
COST
At 1 February 2023 629,924 1,441,211 584,188
Additions - - 21,749
At 31 January 2024 629,924 1,441,211 605,937
DEPRECIATION
At 1 February 2023 - 1,080,776 448,755
Charge for year - 51,936 76,500
At 31 January 2024 - 1,132,712 525,255
NET BOOK VALUE
At 31 January 2024 629,924 308,499 80,682
At 31 January 2023 629,924 360,435 135,433

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 236,555 44,396 2,936,274
Additions - - 21,749
At 31 January 2024 236,555 44,396 2,958,023
DEPRECIATION
At 1 February 2023 52,494 37,134 1,619,159
Charge for year 54,468 4,104 187,008
At 31 January 2024 106,962 41,238 1,806,167
NET BOOK VALUE
At 31 January 2024 129,593 3,158 1,151,856
At 31 January 2023 184,061 7,262 1,317,115

9. FIXED ASSET INVESTMENTS

31.1.24 31.1.23
£    £   
Participating interests 488 488
Loans to undertakings in which the company has a
participating interest

953,910

468,480
954,398 468,968

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Interest
in
associate
£   
COST
At 1 February 2023
and 31 January 2024 488
NET BOOK VALUE
At 31 January 2024 488
At 31 January 2023 488

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Aquatec Systems Limited
Registered office: 20 Havelock Road, Hastings, East Sussex, TN34 1BP
Nature of business: Maintenance and repair of motor vehicles
%
Class of shares: holding
Ordinary 48.80
31.5.23 31.5.22
£    £   
Aggregate capital and reserves (32,077 ) (15,931 )
Loss for the year/period (16,146 ) (16,931 )
Loans to
joint
ventures
£   
At 1 February 2023 468,480
New in year 485,430
At 31 January 2024 953,910

10. STOCKS
31.1.24 31.1.23
£    £   
Motor fuel & convenience store
goods 263,076 257,986

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 152,647 99,396
Other debtors 18,490 24,451
Prepayments 21,708 16,898
192,845 140,745

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts (see note 14) 83,276 84,530
Trade creditors 384,092 392,886
Tax 148,876 90,174
Social security and other taxes 19,781 17,726
VAT 66,576 59,889
Other creditors (1,087 ) 5,473
Directors' current accounts 297 297
Accrued expenses 71,027 43,759
772,838 694,734

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans (see note 14) 1,897,354 1,977,363

14. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 83,276 84,530

Amounts falling due between one and two years:
Bank loans - 1-2 years 91,004 89,513

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,806,350 1,887,850

15. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 1,980,630 2,061,893

The bank loans from Barclays Bank Plc are secured by mortgages over the freehold and leasehold property of the company, by a fixed and floating charge over the assets of the company and by a mortgage over the property occupied by the company but owned by the shareholders and persons connected with the shareholders.

PARKFOOT GARAGE LIMITED (REGISTERED NUMBER: 00605551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

16. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax
Accelerated capital allowances 48,315 75,606
Other timing differences 90,097 90,097
138,412 165,703

Deferred
tax
£   
Balance at 1 February 2023 165,703
Movement (27,291 )
Balance at 31 January 2024 138,412

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
25,000 Ordinary £1 25,000 25,000

18. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 February 2023 537,379 26,270 563,649
Profit for the year 337,049 337,049
Dividends (186,000 ) (186,000 )
At 31 January 2024 688,428 26,270 714,698

19. CONTINGENT LIABILITIES

The freehold land on which the petrol forecourt and store operate is owned half by the company and half by the shareholder directors Mr N Charman and Mr D Charman. The shareholders have the option to charge an annual rent for part of the land. The rent is contingent upon the shareholders requiring payment to be made and at the present time they do not intend to enforce this and the amount is therefore not deemed payable.

20. RELATED PARTY DISCLOSURES

The company leases part of the petrol forecourt site which is owned by the shareholders and persons connected with the shareholders. There was no rental charge for the current year. The remainder of the site is owned by the company.

The company owes £297 to the shareholder directors in respect of amounts received by the company on their behalf for rent in respect of grazing land owned by them.