Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-01falseNo description of principal activity11falsetrue 13189963 2023-03-01 2024-02-29 13189963 2022-03-01 2023-02-28 13189963 2024-02-29 13189963 2023-02-28 13189963 c:Director1 2023-03-01 2024-02-29 13189963 d:FurnitureFittings 2023-03-01 2024-02-29 13189963 d:FurnitureFittings 2024-02-29 13189963 d:FurnitureFittings 2023-02-28 13189963 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13189963 d:CurrentFinancialInstruments 2024-02-29 13189963 d:CurrentFinancialInstruments 2023-02-28 13189963 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 13189963 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13189963 d:ShareCapital 2024-02-29 13189963 d:ShareCapital 2023-02-28 13189963 d:RetainedEarningsAccumulatedLosses 2024-02-29 13189963 d:RetainedEarningsAccumulatedLosses 2023-02-28 13189963 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 13189963 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 13189963 c:FRS102 2023-03-01 2024-02-29 13189963 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13189963 c:FullAccounts 2023-03-01 2024-02-29 13189963 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13189963 2 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 13189963










ZACH'S GARAGE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 29 FEBRUARY 2024

 
ZACH'S GARAGE LIMITED
REGISTERED NUMBER: 13189963

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
2,359
-

  
2,359
-

Current assets
  

Debtors: amounts falling due within one year
  
1,554
2,372

Cash at bank and in hand
  
73,680
41,591

  
75,234
43,963

Creditors: amounts falling due within one year
 6 
(54,961)
(32,662)

Net current assets
  
 
 
20,273
 
 
11,301

Provisions for liabilities
  

Deferred tax
  
(448)
-

  
 
 
(448)
 
 
-

Net assets
  
22,184
11,301


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
21,184
10,301

  
22,184
11,301


Page 1

 
ZACH'S GARAGE LIMITED
REGISTERED NUMBER: 13189963
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






ZCP Lewis
Director

Date: 27 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ZACH'S GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

1.


General information

Zach's Garage Limited (13189963) is a private company limited by shares and incorporated in England & Wales. Its registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
ZACH'S GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
ZACH'S GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2023 - 1).

Page 5

 
ZACH'S GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Fixtures and fittings

£



Cost or valuation


Additions
3,145



At 29 February 2024

3,145



Depreciation


Charge for the period on owned assets
786



At 29 February 2024

786



Net book value



At 29 February 2024
2,359



At 28 February 2023
-


5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
1,554
2,372

1,554
2,372


Page 6

 
ZACH'S GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024

6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
-
7,348

Corporation tax
5,090
2,555

Other creditors
28,684
20,159

Accruals and deferred income
21,187
2,600

54,961
32,662



7.


Deferred taxation






2024


£






Charged to profit or loss
(448)



At end of year
(448)

The deferred taxation balance is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(448)
-

(448)
-

 
Page 7