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REGISTERED NUMBER: 09396135 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

THE QUAY GARAGE JAMES WARREN LTD

THE QUAY GARAGE JAMES WARREN LTD (REGISTERED NUMBER: 09396135)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE QUAY GARAGE JAMES WARREN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: J E C Warren





REGISTERED OFFICE: Unit 7
South Quay
Padstow
Cornwall
PL28 8BL





REGISTERED NUMBER: 09396135 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

THE QUAY GARAGE JAMES WARREN LTD (REGISTERED NUMBER: 09396135)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 38,183 46,889
38,183 46,889

CURRENT ASSETS
Stocks 1,470 1,179
Debtors 6 2,320 175
Cash at bank 31,776 21,119
35,566 22,473
CREDITORS
Amounts falling due within one year 7 47,287 38,526
NET CURRENT LIABILITIES (11,721 ) (16,053 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,462

30,836

CREDITORS
Amounts falling due after more than one
year

8

(13,727

)

(21,595

)

PROVISIONS FOR LIABILITIES (7,148 ) (8,477 )
NET ASSETS 5,587 764

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 5,585 762
SHAREHOLDERS' FUNDS 5,587 764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

THE QUAY GARAGE JAMES WARREN LTD (REGISTERED NUMBER: 09396135)

BALANCE SHEET - continued
29 FEBRUARY 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 director and authorised for issue on 12 September 2024 and were signed by:





J E C Warren - Director


THE QUAY GARAGE JAMES WARREN LTD (REGISTERED NUMBER: 09396135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

The Quay Garage James Warren 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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Improvements to property - Straight line over 10 years
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

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.

THE QUAY GARAGE JAMES WARREN LTD (REGISTERED NUMBER: 09396135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 30,000
AMORTISATION
At 1 March 2023
and 29 February 2024 30,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 5,675 57,742 30,582 93,999
DEPRECIATION
At 1 March 2023 3,405 32,559 11,146 47,110
Charge for year 567 3,280 4,859 8,706
At 29 February 2024 3,972 35,839 16,005 55,816
NET BOOK VALUE
At 29 February 2024 1,703 21,903 14,577 38,183
At 28 February 2023 2,270 25,183 19,436 46,889

THE QUAY GARAGE JAMES WARREN LTD (REGISTERED NUMBER: 09396135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023
and 29 February 2024 24,999
DEPRECIATION
At 1 March 2023
and 29 February 2024 6,250
NET BOOK VALUE
At 29 February 2024 18,749
At 28 February 2023 18,749

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 2,320 175

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 5,324 5,324
Hire purchase contracts 3,615 3,615
Trade creditors 18,606 19,438
Tax 12,162 4,597
Social security and other taxes 6,431 4,199
Directors' current accounts 49 303
Accrued expenses 1,100 1,050
47,287 38,526

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans - 1-2 years 5,324 5,324
Bank loans - 2-5 years 2,242 7,177
Hire purchase contracts 6,161 9,094
13,727 21,595

9. RELATED PARTY DISCLOSURES

The company is controlled by its directors by virtue of the fact that the directors own 100% of the company's ordinary issued share capital.