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REGISTERED NUMBER: 07361162 (England and Wales)











Financial Statements

for the Year Ended 30 November 2023

for

Village Motor Repairs
(Ruddington) Limited

Village Motor Repairs
(Ruddington) Limited (Registered number: 07361162)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Village Motor Repairs
(Ruddington) Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: J A Baston





REGISTERED OFFICE: 2a Ellis Grove
Beeston
Nottingham
NG9 1EP





REGISTERED NUMBER: 07361162 (England and Wales)





ACCOUNTANTS: Mabe Allen LLP
Chartered Accountants
The Old Manse
29 St. Mary Street
Ilkeston
Derbyshire
DE7 8AB

Village Motor Repairs
(Ruddington) Limited (Registered number: 07361162)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 104,064 107,520
104,064 107,520

CURRENT ASSETS
Stocks 32,530 32,480
Debtors 6 360,356 308,356
Cash at bank and in hand 30,677 35,283
423,563 376,119
CREDITORS
Amounts falling due within one year 7 53,357 48,447
NET CURRENT ASSETS 370,206 327,672
TOTAL ASSETS LESS CURRENT
LIABILITIES

474,270

435,192

CREDITORS
Amounts falling due after more than one
year

8

(11,577

)

(18,850

)

PROVISIONS FOR LIABILITIES (2,697 ) (2,871 )
NET ASSETS 459,996 413,471

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 459,896 413,371
SHAREHOLDERS' FUNDS 459,996 413,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Village Motor Repairs
(Ruddington) Limited (Registered number: 07361162)

Balance Sheet - continued
30 November 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 25 August 2024 and were signed by:





J A Baston - Director


Village Motor Repairs
(Ruddington) Limited (Registered number: 07361162)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

Village Motor Repairs (Ruddington) 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 five 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.
Land and buildings - 2% on cost
Plant and machinery etc - 15% 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.


Village Motor Repairs
(Ruddington) Limited (Registered number: 07361162)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued
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 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 50,000
AMORTISATION
At 1 December 2022
and 30 November 2023 50,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

Village Motor Repairs
(Ruddington) Limited (Registered number: 07361162)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 December 2022
and 30 November 2023 98,594 34,100 20,000 152,694
DEPRECIATION
At 1 December 2022 6,988 20,942 17,244 45,174
Charge for year 1,071 1,972 413 3,456
At 30 November 2023 8,059 22,914 17,657 48,630
NET BOOK VALUE
At 30 November 2023 90,535 11,186 2,343 104,064
At 30 November 2022 91,606 13,158 2,756 107,520

Included in cost of land and buildings is freehold land of £ 45,000 (2022 - £ 45,000 ) which is not depreciated.

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 982 838
Directors' current accounts 277,174 234,875
Prepayments 3,622 3,279
281,778 238,992

Amounts falling due after more than one year:
Corporation tax 78,578 69,364

Aggregate amounts 360,356 308,356

Village Motor Repairs
(Ruddington) Limited (Registered number: 07361162)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,400 7,400
Other loans 4,000 -
Trade creditors 5,491 9,042
Corporation tax 26,357 22,691
Social security and other taxes 505 -
VAT 8,000 7,749
Accruals 1,604 1,565
53,357 48,447

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 11,577 18,850

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
J A Baston
Balance outstanding at start of year 234,875 206,575
Amounts advanced 42,299 28,300
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 277,174 234,875