Registered number
10374502
Cross Hands Garage Limited
Filleted Accounts
31 December 2023
Cross Hands Garage Limited
Company Information
Directors
R J Hall
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Cross Hands Garage
Gloucester Road
Corse
Gloucester
Registered number
10374502
Cross Hands Garage Limited
Registered number: 10374502
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 53,700 37,595
Current assets
Stocks 140,000 128,250
Debtors 4 1,495 -
Cash at bank and in hand 585,659 352,805
727,154 481,055
Creditors: amounts falling due within one year 5 (175,281) (134,518)
Net current assets 551,873 346,537
Net assets 605,573 384,132
Capital and reserves
Called up share capital 100 100
Profit and loss account 605,473 384,032
Shareholder's funds 605,573 384,132
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R J Hall
Director
Approved by the board on 29 February 2024
Cross Hands Garage Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold property over four years
Fixtures and fittings over four years
Motor vehicles over four years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 10
3 Tangible fixed assets
Leasehold property Fixtures and fittings Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 56,669 85,487 29,000 171,156
Additions - 40,224 - 40,224
At 31 December 2023 56,669 125,711 29,000 211,380
Depreciation
At 1 January 2023 51,464 74,847 7,250 133,561
Charge for the year 1,735 15,134 7,250 24,119
At 31 December 2023 53,199 89,981 14,500 157,680
Net book value
At 31 December 2023 3,470 35,730 14,500 53,700
At 31 December 2022 5,205 10,640 21,750 37,595
4 Debtors 2023 2022
£ £
Other debtors 1,495 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 85,334 36,392
Taxation and social security costs 78,782 87,626
Directors loan account 665 -
Other creditors 10,500 10,500
175,281 134,518
6 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 50,000 50,000
7 Related party transactions
The company is controlled by Mr R J Hall.
8 Other information
Cross Hands Garage Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cross Hands Garage
Gloucester Road
Corse
Gloucester
Cross Hands Garage Limited 10374502 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 No description of principal activity 10374502 2022-01-01 2022-12-31 10374502 core:WithinOneYear 2022-12-31 10374502 core:ShareCapital 2022-12-31 10374502 core:RetainedEarningsAccumulatedLosses 2022-12-31 10374502 core:AllPeriods 2022-12-31 10374502 2023-01-01 2023-12-31 10374502 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10374502 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10374502 bus:Director2 2023-01-01 2023-12-31 10374502 1 2023-01-01 2023-12-31 10374502 2 2023-01-01 2023-12-31 10374502 core:LandBuildings 2023-01-01 2023-12-31 10374502 core:PlantMachinery 2023-01-01 2023-12-31 10374502 core:Vehicles 2023-01-01 2023-12-31 10374502 countries:England 2023-01-01 2023-12-31 10374502 bus:FRS102 2023-01-01 2023-12-31 10374502 bus:FilletedAccounts 2023-01-01 2023-12-31 10374502 2023-12-31 10374502 core:WithinOneYear 2023-12-31 10374502 core:ShareCapital 2023-12-31 10374502 core:RetainedEarningsAccumulatedLosses 2023-12-31 10374502 core:LandBuildings 2023-12-31 10374502 core:PlantMachinery 2023-12-31 10374502 core:Vehicles 2023-12-31 10374502 core:AllPeriods 2023-12-31 10374502 2022-12-31 10374502 core:LandBuildings 2022-12-31 10374502 core:PlantMachinery 2022-12-31 10374502 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure