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REGISTERED NUMBER: 01349906 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

RGR Garages (Cranfield) Limited

RGR Garages (Cranfield) Limited (Registered number: 01349906)






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


RGR Garages (Cranfield) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs M Grimes
Mrs S M Riddy
A T Grimes
Mrs P J Wildman





SECRETARY: A T Grimes





REGISTERED OFFICE: High Street
Cranfield
Bedford
Bedfordshire
MK43 0DG





REGISTERED NUMBER: 01349906 (England and Wales)





ACCOUNTANTS: M & R Accountancy Limited
14 Fosters Lane
Bradwell
Milton Keynes
Buckinghamshire
MK13 9HD

RGR Garages (Cranfield) Limited (Registered number: 01349906)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,177,870 1,119,341

CURRENT ASSETS
Stocks 401,718 516,597
Debtors 5 260,230 220,740
Cash at bank and in hand 24,813 14,643
686,761 751,980
CREDITORS
Amounts falling due within one year 6 981,272 989,360
NET CURRENT LIABILITIES (294,511 ) (237,380 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

883,359

881,961

CREDITORS
Amounts falling due after more than one
year

7

156,900

217,733
NET ASSETS 726,459 664,228

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 273,542 273,542
Retained earnings 452,817 390,586
SHAREHOLDERS' FUNDS 726,459 664,228

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.

RGR Garages (Cranfield) Limited (Registered number: 01349906)

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 19 August 2024 and were signed on its behalf by:




Mrs P J Wildman - Director



A T Grimes - Director


RGR Garages (Cranfield) Limited (Registered number: 01349906)

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

1. STATUTORY INFORMATION

RGR Garages (Cranfield) 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 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 and amortisation are provided at the following annual rates, in order to write off each asset over it's estimated useful life:

Leasehold Property - Over 5 years
Leasehold Property (Short Lease) - Over the life of the lease
Fixtures, Fittings and Equipment - 15% on the net book value
Motor Vehicles - At variable rates on reducing balance


Freehold Land and Buildings

The company's Freehold Land and Buildings were professionally valued by Pinders PCS Ltd on the 19th April 2017.The company have adopted this valuation within these accounts.

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.

RGR Garages (Cranfield) Limited (Registered number: 01349906)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 46 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 991,831 1,035,798 2,027,629
Additions - 234,295 234,295
Disposals - (176,098 ) (176,098 )
At 31 March 2024 991,831 1,093,995 2,085,826
DEPRECIATION
At 1 April 2023 166,829 741,459 908,288
Charge for year - 64,049 64,049
Eliminated on disposal - (64,381 ) (64,381 )
At 31 March 2024 166,829 741,127 907,956
NET BOOK VALUE
At 31 March 2024 825,002 352,868 1,177,870
At 31 March 2023 825,002 294,339 1,119,341

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2017 825,000 - 825,000
Cost 166,831 1,093,995 1,260,826
991,831 1,093,995 2,085,826

If the Freehold Property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 551,458 551,458

Value of land in freehold land and buildings 551,458 551,458

Freehold Land and Buildings were valued on an open market basis on 19 April 2017 by Pinders PCS Ltd .

RGR Garages (Cranfield) Limited (Registered number: 01349906)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 218,292 194,447
Other debtors 41,938 26,293
260,230 220,740

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 247,072 200,255
Trade creditors 449,050 528,962
Taxation and social security 46,547 68,763
Other creditors 238,603 191,380
981,272 989,360

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 45,833
Other creditors 156,900 171,900
156,900 217,733

8. RESERVES

The company's Freehold Land and Buildings were professionally valued on 19th April 2017 by Pinders PCS Ltd. The valuation has been incorporated into these accounts and the reserve arising on revaluation is £273,542.