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REGISTERED NUMBER: 06922373 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

TOWER HILL GARAGE LIMITED

TOWER HILL GARAGE LIMITED (Registered number: 06922373)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


TOWER HILL GARAGE LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K Davis
N L Westley





REGISTERED OFFICE: Tower Hill Garage
Cove Road
Farnborough
Hampshire
GU14 0EL





REGISTERED NUMBER: 06922373 (England and Wales)





ACCOUNTANTS: WITNEY & CO LTD
Ground Floor
39 Guildford Road
Lightwater
Surrey
GU18 5SA

TOWER HILL GARAGE LIMITED (Registered number: 06922373)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 98 130
98 130

CURRENT ASSETS
Stocks 420,069 500,497
Debtors 123,176 85,649
Cash at bank 62,150 13,449
605,395 599,595
CREDITORS
Amounts falling due within one year 216,888 190,017
NET CURRENT ASSETS 388,507 409,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

388,605

409,708

CREDITORS
Amounts falling due after more than one
year

96,127

116,205
NET ASSETS 292,478 293,503

CAPITAL AND RESERVES
Called up share capital 120 105
Retained earnings 292,358 293,398
SHAREHOLDERS' FUNDS 292,478 293,503

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

TOWER HILL GARAGE LIMITED (Registered number: 06922373)

Abridged Balance Sheet - continued
31 March 2024


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 Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:




K Davis - Director



N L Westley - Director


TOWER HILL GARAGE LIMITED (Registered number: 06922373)

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

1. STATUTORY INFORMATION

TOWER HILL 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" 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 2010, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery - 25% on reducing balance

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.

TOWER HILL GARAGE LIMITED (Registered number: 06922373)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 500,000
AMORTISATION
At 1 April 2023
and 31 March 2024 500,000
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 6,133
DEPRECIATION
At 1 April 2023 6,003
Charge for year 32
At 31 March 2024 6,035
NET BOOK VALUE
At 31 March 2024 98
At 31 March 2023 130

6. RELATED PARTY DISCLOSURES

The controlling party is K Davis.

The ultimate controlling party is K Davis.