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REGISTERED NUMBER: 03156150 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2024

for

G.B. FLINT COACHWORKS LIMITED

G.B. FLINT COACHWORKS LIMITED (Registered number: 03156150)






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


G.B. FLINT COACHWORKS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr Carl Aidan Flint
Mr Guy St John Flint





REGISTERED OFFICE: Manor House Road
Long Eaton
Nottingham
Nottinghamshire
NG10 1LR





REGISTERED NUMBER: 03156150 (England and Wales)





ACCOUNTANTS: Haines Watts
Cliffe Hill House
22-26 Nottingham Road
Stapleford
Nottingham
NG9 8AA

G.B. FLINT COACHWORKS LIMITED (Registered number: 03156150)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,105,383 1,128,168

CURRENT ASSETS
Stocks 156,619 201,337
Debtors 5 190,493 224,168
Cash at bank and in hand 77,237 317
424,349 425,822
CREDITORS
Amounts falling due within one year 6 334,865 404,389
NET CURRENT ASSETS 89,484 21,433
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,194,867

1,149,601

CREDITORS
Amounts falling due after more than one
year

7

(205,532

)

(238,986

)

PROVISIONS FOR LIABILITIES (72,808 ) (66,021 )
NET ASSETS 916,527 844,594

CAPITAL AND RESERVES
Called up share capital 10 300 300
Revaluation reserve 11 364,612 361,117
Capital redemption reserve 11 100 100
Retained earnings 11 551,515 483,077
SHAREHOLDERS' FUNDS 916,527 844,594

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.

G.B. FLINT COACHWORKS LIMITED (Registered number: 03156150)

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 8 August 2024 and were signed on its behalf by:





Mr Carl Aidan Flint - Director


G.B. FLINT COACHWORKS LIMITED (Registered number: 03156150)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

G.B. FLINT COACHWORKS 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services relating to vehicle repairs,excluding value added tax.

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 Valuation
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office Equipment - 25% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Stocks and work in progress
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.

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.


G.B. FLINT COACHWORKS LIMITED (Registered number: 03156150)

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 25 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 1,125,000 527,578 1,652,578
Additions - 24,954 24,954
At 31 March 2024 1,125,000 552,532 1,677,532
DEPRECIATION
At 1 April 2023 128,750 395,660 524,410
Charge for year 18,393 29,346 47,739
At 31 March 2024 147,143 425,006 572,149
NET BOOK VALUE
At 31 March 2024 977,857 127,526 1,105,383
At 31 March 2023 996,250 131,918 1,128,168

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2016 327,965 - 327,965
Cost 797,035 552,532 1,349,567
1,125,000 552,532 1,677,532

G.B. FLINT COACHWORKS LIMITED (Registered number: 03156150)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

If Freehold Land and Buildings had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 797,035 797,035
Aggregate depreciation 118,340 112,423

Value of land in freehold land and buildings 205,371 205,371

Freehold land and buildings were valued on an open market basis on 26 February 2016 by an independent valuer .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 172,354 210,456
Other debtors 18,139 13,712
190,493 224,168

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 32,188 42,735
Trade creditors 176,869 211,701
Taxation and social security 92,465 77,332
Other creditors 33,343 72,621
334,865 404,389

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 205,532 238,986

Amounts falling due in more than five years:

Repayable by instalments
Bank Loan Over 5 years 90,794 128,910

G.B. FLINT COACHWORKS LIMITED (Registered number: 03156150)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 46,223 48,153
Between one and five years 33,575 36,250
79,798 84,403

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 237,720 268,129

The National Westminster Bank PLC have the following security;-

1: Legal mortgage over the company's premises.

2: Mortgage debenture incorporating a fixed and floating charge over all current and future assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
200 A Ordinary £1 300 200
100 B ordinary £1 - 100
300 300

11. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 April 2023 483,077 361,117 100 844,294
Profit for the year 71,933 71,933
Deferred tax on revaluation (3,495 ) 3,495 - -
At 31 March 2024 551,515 364,612 100 916,227