Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 05804433 S J Clarke S J Clarke iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05804433 2023-05-31 05804433 2024-05-31 05804433 2023-06-01 2024-05-31 05804433 frs-core:CurrentFinancialInstruments 2024-05-31 05804433 frs-core:BetweenOneFiveYears 2024-05-31 05804433 frs-core:ComputerEquipment 2023-06-01 2024-05-31 05804433 frs-core:FurnitureFittings 2023-06-01 2024-05-31 05804433 frs-core:NetGoodwill 2024-05-31 05804433 frs-core:NetGoodwill 2023-06-01 2024-05-31 05804433 frs-core:NetGoodwill 2023-05-31 05804433 frs-core:LandBuildings 2024-05-31 05804433 frs-core:LandBuildings 2023-06-01 2024-05-31 05804433 frs-core:LandBuildings 2023-05-31 05804433 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 05804433 frs-core:MotorVehicles 2023-06-01 2024-05-31 05804433 frs-core:PlantMachinery 2024-05-31 05804433 frs-core:PlantMachinery 2023-06-01 2024-05-31 05804433 frs-core:PlantMachinery 2023-05-31 05804433 frs-core:WithinOneYear 2024-05-31 05804433 frs-core:ShareCapital 2024-05-31 05804433 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 05804433 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05804433 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 05804433 frs-bus:SmallEntities 2023-06-01 2024-05-31 05804433 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05804433 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 05804433 frs-core:UnlistedNon-exchangeTraded 2024-05-31 05804433 frs-core:UnlistedNon-exchangeTraded 2023-05-31 05804433 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-05-31 05804433 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-05-31 05804433 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-05-31 05804433 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-05-31 05804433 frs-bus:Director1 2023-06-01 2024-05-31 05804433 frs-bus:Director1 2023-05-31 05804433 frs-bus:Director1 2024-05-31 05804433 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 05804433 frs-countries:EnglandWales 2023-06-01 2024-05-31 05804433 2022-05-31 05804433 2023-05-31 05804433 2022-06-01 2023-05-31 05804433 frs-core:CurrentFinancialInstruments 2023-05-31 05804433 frs-core:BetweenOneFiveYears 2023-05-31 05804433 frs-core:WithinOneYear 2023-05-31 05804433 frs-core:ShareCapital 2023-05-31 05804433 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 05804433
Steve Clarke Garages Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05804433
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,183 8,576
Tangible Assets 5 76,232 80,021
Investments 6 100 100
82,515 88,697
CURRENT ASSETS
Stocks 227,530 359,811
Debtors 7 29,167 20,621
Cash at bank and in hand 205,013 139,748
461,710 520,180
Creditors: Amounts Falling Due Within One Year 8 (88,741 ) (113,473 )
NET CURRENT ASSETS (LIABILITIES) 372,969 406,707
TOTAL ASSETS LESS CURRENT LIABILITIES 455,484 495,404
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,058 ) (20,005 )
NET ASSETS 436,426 475,399
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 436,326 475,299
SHAREHOLDERS' FUNDS 436,426 475,399
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S J Clarke
Director
14 August 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Steve Clarke Garages Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05804433 . The registered office is Cowick Street Motors, 160 Cowick Street, Exeter , Devon, EX4 1AS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added taxes. Turnover includes revenue earned from the sale of used vehicles and from the rendering of services. 
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Other
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 11)
11 11
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 48,966
As at 31 May 2024 48,966
Amortisation
As at 1 June 2023 40,390
Provided during the period 2,393
As at 31 May 2024 42,783
Net Book Value
As at 31 May 2024 6,183
As at 1 June 2023 8,576
Page 4
Page 5
5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 June 2023 2,700 194,051 196,751
Additions - 19,563 19,563
Disposals - (10,593 ) (10,593 )
As at 31 May 2024 2,700 203,021 205,721
Depreciation
As at 1 June 2023 2,700 114,030 116,730
Provided during the period - 22,430 22,430
Disposals - (9,671 ) (9,671 )
As at 31 May 2024 2,700 126,789 129,489
Net Book Value
As at 31 May 2024 - 76,232 76,232
As at 1 June 2023 - 80,021 80,021
6. Investments
Unlisted
£
Cost
As at 1 June 2023 100
As at 31 May 2024 100
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 100
As at 1 June 2023 100
Fixed asset investments include shareholdings at cost in subsidiary undertakings.
Page 5
Page 6
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,450 3,054
Other debtors 13,717 17,567
29,167 20,621
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 35,741 40,479
Other creditors 10,947 36,669
Taxation and social security 42,053 36,325
88,741 113,473
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
Loans are secured against the assets of the company.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 55,745 73,120
Later than one year and not later than five years 19,500 75,125
75,245 148,245
Page 6
Page 7
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Steven Clarke 31,523 3,716 31,523 - 3,716
The above loan is unsecured and repayable on demand and interest is charged at 2.25% pa on overdrawn balances.
Page 7