5 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 60,000 54,000 3,000 57,000 3,000 6,000 16,808 xbrli:pure xbrli:shares iso4217:GBP 05121779 2022-12-01 2023-11-30 05121779 2023-11-30 05121779 2022-11-30 05121779 2021-09-01 2022-11-30 05121779 2022-11-30 05121779 2021-08-31 05121779 core:NetGoodwill 2022-12-01 2023-11-30 05121779 core:PlantMachinery 2022-12-01 2023-11-30 05121779 core:FurnitureFittings 2022-12-01 2023-11-30 05121779 core:MotorVehicles 2022-12-01 2023-11-30 05121779 bus:Director1 2022-12-01 2023-11-30 05121779 core:NetGoodwill 2022-11-30 05121779 core:NetGoodwill 2023-11-30 05121779 core:PlantMachinery 2022-11-30 05121779 core:FurnitureFittings 2022-11-30 05121779 core:MotorVehicles 2022-11-30 05121779 core:LandBuildings 2023-11-30 05121779 core:PlantMachinery 2023-11-30 05121779 core:FurnitureFittings 2023-11-30 05121779 core:MotorVehicles 2023-11-30 05121779 core:WithinOneYear 2023-11-30 05121779 core:WithinOneYear 2022-11-30 05121779 core:ShareCapital 2023-11-30 05121779 core:ShareCapital 2022-11-30 05121779 core:RetainedEarningsAccumulatedLosses 2023-11-30 05121779 core:RetainedEarningsAccumulatedLosses 2022-11-30 05121779 core:NetGoodwill 2022-11-30 05121779 core:LandBuildings 2022-11-30 05121779 core:PlantMachinery 2022-11-30 05121779 core:FurnitureFittings 2022-11-30 05121779 core:MotorVehicles 2022-11-30 05121779 bus:SmallEntities 2022-12-01 2023-11-30 05121779 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 05121779 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 05121779 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05121779 bus:FullAccounts 2022-12-01 2023-11-30 05121779 core:KeyManagementIndividualGroup1 2022-12-01 2023-11-30 05121779 core:KeyManagementIndividualGroup1 2023-11-30 05121779 core:KeyManagementIndividualGroup1 2022-11-30
COMPANY REGISTRATION NUMBER: 05121779
LEADER ROAD GARAGE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 November 2023
LEADER ROAD GARAGE LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Intangible assets
5
3,000
6,000
Tangible assets
6
12,662
12,952
--------
--------
15,662
18,952
CURRENT ASSETS
Stocks
2,250
2,250
Debtors
7
4,141
2,435
Cash at bank and in hand
4,608
8,998
--------
--------
10,999
13,683
CREDITORS: amounts falling due within one year
8
24,628
28,037
--------
--------
NET CURRENT LIABILITIES
13,629
14,354
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
2,033
4,598
-------
-------
NET ASSETS
2,033
4,598
-------
-------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
2,031
4,596
-------
-------
SHAREHOLDERS FUNDS
2,033
4,598
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LEADER ROAD GARAGE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Mr R Mayor
Director
Company registration number: 05121779
LEADER ROAD GARAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 78 Leader Road, Hillsborough, Sheffield, South Yorkshire, S6 4GH.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Current tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 5 (2022: 5 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
60,000
--------
Amortisation
At 1 December 2022
54,000
Charge for the year
3,000
--------
At 30 November 2023
57,000
--------
Carrying amount
At 30 November 2023
3,000
--------
At 30 November 2022
6,000
--------
6. TANGIBLE ASSETS
Leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2022 and 30 November 2023
11,022
16,124
398
500
28,044
--------
--------
----
----
--------
Depreciation
At 1 December 2022
14,222
374
496
15,092
Charge for the year
286
3
1
290
--------
--------
----
----
--------
At 30 November 2023
14,508
377
497
15,382
--------
--------
----
----
--------
Carrying amount
At 30 November 2023
11,022
1,616
21
3
12,662
--------
--------
----
----
--------
At 30 November 2022
11,022
1,902
24
4
12,952
--------
--------
----
----
--------
7. DEBTORS
2023
2022
£
£
Trade debtors
4,141
2,435
-------
-------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,947
Corporation tax
3,626
7,036
Social security and other taxes
1,963
1,988
Directors current accounts
12,451
16,808
Other creditors
3,641
2,205
--------
--------
24,628
28,037
--------
--------
9. RELATED PARTY TRANSACTIONS
The directors made available loans to the company throughout the period. These loans are interest free and repayable on demand. At the period end the balance of the loan accounts was £ 12,451 (2022: £ 16,808 )