Registered number
03949234
Sandyford Garage Limited
Filleted Accounts
31 December 2023
Sandyford Garage Limited
Registered number: 03949234
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 101,287 114,353
Current assets
Stocks 2,002 2,002
Debtors 5 1,754 1,449
Cash at bank and in hand 71,111 43,006
74,867 46,457
Creditors: amounts falling due within one year 6 (67,639) (42,549)
Net current assets 7,228 3,908
Total assets less current liabilities 108,515 118,261
Creditors: amounts falling due after more than one year 7 (30,878) (40,883)
Net assets 77,637 77,378
Capital and reserves
Called up share capital 10 10
Profit and loss account 77,627 77,368
Shareholders' funds 77,637 77,378
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A C Gould
Director
Approved by the board on 19 September 2024
Sandyford Garage Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 25 years
Plant and machinery 10% reducing balance
Motor vehicles 15% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 30,000
At 31 December 2023 30,000
Amortisation
At 1 January 2023 30,000
At 31 December 2023 30,000
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 12,033 85,595 92,436 190,064
Additions - 2,500 - 2,500
At 31 December 2023 12,033 88,095 92,436 192,564
Depreciation
At 1 January 2023 8,877 48,719 18,115 75,711
Charge for the year 481 3,937 11,148 15,566
At 31 December 2023 9,358 52,656 29,263 91,277
Net book value
At 31 December 2023 2,675 35,439 63,173 101,287
At 31 December 2022 3,156 36,876 74,321 114,353
5 Debtors 2023 2022
£ £
Trade debtors 1,754 1,449
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 56,468 42,617
Taxation and social security costs 11,171 (68)
67,639 42,549
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 30,878 40,883
8 Other information
Sandyford Garage Limited is a private company limited by shares and incorporated in England. Its registered office is:
High Street
New Chapel
Stoke on Trent
Staffs
ST7 4PR
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