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REGISTERED NUMBER: 04626691



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

YOUNGS GARAGE LIMITED

YOUNGS GARAGE LIMITED (REGISTERED NUMBER: 04626691)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


YOUNGS GARAGE LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTOR: N W Young





SECRETARY:





REGISTERED OFFICE: Unit 1
Gasoline Alley
Wrotham
Sevenoaks
Kent
TN15 7RR





REGISTERED NUMBER: 04626691





ACCOUNTANTS: Robsons Accountants
19 Montpelier Avenue
Bexley
Kent
DA5 3AP

YOUNGS GARAGE LIMITED (REGISTERED NUMBER: 04626691)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 90,901 82,238
90,901 82,238

CURRENT ASSETS
Stocks 15,122 14,588
Debtors 6 3,082 2,585
Cash at bank and in hand 17,383 12,503
35,587 29,676
CREDITORS
Amounts falling due within one year 7 (19,776 ) (13,981 )
NET CURRENT ASSETS 15,811 15,695
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,712

97,933

CREDITORS
Amounts falling due after more than one
year

8

(39,000

)

(49,000

)
NET ASSETS 67,712 48,933

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 66,712 47,933
SHAREHOLDERS' FUNDS 67,712 48,933

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 director acknowledges his 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.

YOUNGS GARAGE LIMITED (REGISTERED NUMBER: 04626691)

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 July 2024 and were signed by:





N W Young - Director


YOUNGS GARAGE LIMITED (REGISTERED NUMBER: 04626691)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Youngs Garage 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

YOUNGS GARAGE LIMITED (REGISTERED NUMBER: 04626691)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 28,827
AMORTISATION
At 1 January 2023
and 31 December 2023 28,827
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 191,985
Additions 38,831
At 31 December 2023 230,816
DEPRECIATION
At 1 January 2023 109,747
Charge for year 30,168
At 31 December 2023 139,915
NET BOOK VALUE
At 31 December 2023 90,901
At 31 December 2022 82,238

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,291 794
Other debtors 1,791 1,791
3,082 2,585

YOUNGS GARAGE LIMITED (REGISTERED NUMBER: 04626691)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 2 1
Taxation and social security 9,308 3,782
Other creditors 466 198
19,776 13,981

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,000 25,000
Other creditors 24,000 24,000
39,000 49,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 24,000 24,000