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REGISTERED NUMBER: 07400503 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ATHERSTONE GARAGE SERVICE CENTRE LIMITED

ATHERSTONE GARAGE SERVICE CENTRE LIMITED (REGISTERED NUMBER: 07400503)






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


ATHERSTONE GARAGE SERVICE CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C T Baghurst
Mrs S A Baghurst-Cart





REGISTERED OFFICE: Unit 43 Fourways
Carlyon Road Industrial Estate
Atherstone
CV9 1LG





REGISTERED NUMBER: 07400503 (England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

ATHERSTONE GARAGE SERVICE CENTRE LIMITED (REGISTERED NUMBER: 07400503)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,821 14,396

CURRENT ASSETS
Debtors 5 - 1,284
Cash at bank and in hand 100,223 165,081
100,223 166,365
CREDITORS
Amounts falling due within one year 6 42,125 83,708
NET CURRENT ASSETS 58,098 82,657
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,919

97,053

CREDITORS
Amounts falling due after more than one
year

7

(11,605

)

(22,543

)

PROVISIONS FOR LIABILITIES (3,421 ) (3,112 )
NET ASSETS 58,893 71,398

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 58,891 71,396
58,893 71,398

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.

ATHERSTONE GARAGE SERVICE CENTRE LIMITED (REGISTERED NUMBER: 07400503)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2024 and were signed on its behalf by:





C T Baghurst - Director


ATHERSTONE GARAGE SERVICE CENTRE LIMITED (REGISTERED NUMBER: 07400503)

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

1. STATUTORY INFORMATION

Atherstone Garage Service Centre 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.

The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 33% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ATHERSTONE GARAGE SERVICE CENTRE LIMITED (REGISTERED NUMBER: 07400503)

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

2. ACCOUNTING POLICIES - continued

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

The average number of employees during the year was 6 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 31,866 1,687 992 34,545
Additions - 4,100 408 4,508
Disposals - - (102 ) (102 )
At 31 March 2024 31,866 5,787 1,298 38,951
DEPRECIATION
At 1 April 2023 18,041 1,687 421 20,149
Charge for year 2,074 745 218 3,037
Eliminated on disposal - - (56 ) (56 )
At 31 March 2024 20,115 2,432 583 23,130
NET BOOK VALUE
At 31 March 2024 11,751 3,355 715 15,821
At 31 March 2023 13,825 - 571 14,396

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 6,000
DEPRECIATION
At 1 April 2023 1,030
Charge for year 745
At 31 March 2024 1,775
NET BOOK VALUE
At 31 March 2024 4,225
At 31 March 2023 4,970

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 1,284

ATHERSTONE GARAGE SERVICE CENTRE LIMITED (REGISTERED NUMBER: 07400503)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,846 15,294
Hire purchase contracts 2,595 2,297
Trade creditors 4,306 5,844
Taxation and social security 15,873 24,144
Other creditors 5,505 36,129
42,125 83,708

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,654 17,206
Hire purchase contracts 2,951 5,337
11,605 22,543

8. RELATED PARTY DISCLOSURES

Transactions with key management personnel;


20242023
££
Amounts due to related party3,35634,287