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REGISTERED NUMBER: 00639273 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

WESTRIDGE GARAGE (RYDE) LTD

WESTRIDGE GARAGE (RYDE) LTD (REGISTERED NUMBER: 00639273)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

WESTRIDGE GARAGE (RYDE) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M D Winkles
D Winkles



SECRETARY: Mrs B. Woolley



REGISTERED OFFICE: 200 Great Preston Road
Elmfield
Ryde
Isle of Wight
PO33 1AY



REGISTERED NUMBER: 00639273 (England and Wales)



ACCOUNTANTS: Harrison Black Limited
East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA



BANKERS: National Westminster
Ryde
Isle of Wight

WESTRIDGE GARAGE (RYDE) LTD (REGISTERED NUMBER: 00639273)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 267,500 265,770

CURRENT ASSETS
Stocks 666,906 902,520
Debtors 5 15,614 2,069,422
Cash at bank and in hand 2,048,420 791,382
2,730,940 3,763,324
CREDITORS
Amounts falling due within one year 6 260,865 994,692
NET CURRENT ASSETS 2,470,075 2,768,632
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,737,575

3,034,402

CREDITORS
Amounts falling due after more than one
year

7

-

(60,742

)

PROVISIONS FOR LIABILITIES (9,114 ) (9,114 )
NET ASSETS 2,728,461 2,964,546

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Capital redemption reserve 21,500 21,500
Retained earnings 2,703,961 2,940,046
SHAREHOLDERS' FUNDS 2,728,461 2,964,546

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.

WESTRIDGE GARAGE (RYDE) LTD (REGISTERED NUMBER: 00639273)

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.

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 4 September 2024 and were signed on its behalf by:





M D Winkles - Director


WESTRIDGE GARAGE (RYDE) LTD (REGISTERED NUMBER: 00639273)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Westridge Garage (Ryde) Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant & machinery - 20% on reducing balance
Petrol pumps - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


WESTRIDGE GARAGE (RYDE) LTD (REGISTERED NUMBER: 00639273)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


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.

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 23 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant & Petrol Computer
property machinery pumps equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 255,367 379,893 19,292 101,306 755,858
Additions - 13,859 - - 13,859
At 31 March 2024 255,367 393,752 19,292 101,306 769,717
DEPRECIATION
At 1 April 2023 29,862 341,941 19,166 99,119 490,088
Charge for year 1,299 10,362 31 437 12,129
At 31 March 2024 31,161 352,303 19,197 99,556 502,217
NET BOOK VALUE
At 31 March 2024 224,206 41,449 95 1,750 267,500
At 31 March 2023 225,505 37,952 126 2,187 265,770

WESTRIDGE GARAGE (RYDE) LTD (REGISTERED NUMBER: 00639273)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,776 68,584
Other debtors 838 2,000,838
15,614 2,069,422

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 70,037 238,751
Taxation and social security 80,155 583,252
Other creditors 110,673 172,689
260,865 994,692

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Trade creditors - 60,742

8. ULTIMATE CONTROLLING PARTY

Whilst no individual has ultimate control of the company, 100% of the shares are owned by family members of the directors.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WESTRIDGE GARAGE (RYDE) LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westridge Garage (Ryde) Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Westridge Garage (Ryde) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Westridge Garage (Ryde) Ltd and state those matters that we have agreed to state to the Board of Directors of Westridge Garage (Ryde) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westridge Garage (Ryde) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Westridge Garage (Ryde) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Westridge Garage (Ryde) Ltd. You consider that Westridge Garage (Ryde) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Westridge Garage (Ryde) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Harrison Black Limited
East Quay
Kite Hill
Wootton Bridge
Isle of Wight
PO33 4LA


Date: .............................................