REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
HIGH CROSS GARAGE (BALSALL) LIMITED |
REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
HIGH CROSS GARAGE (BALSALL) LIMITED |
HIGH CROSS GARAGE (BALSALL) LIMITED (REGISTERED NUMBER: 00537875) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HIGH CROSS GARAGE (BALSALL) LIMITED |
COMPANY INFORMATION |
for the year ended 31 December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
HIGH CROSS GARAGE (BALSALL) LIMITED (REGISTERED NUMBER: 00537875) |
ABRIDGED BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
HIGH CROSS GARAGE (BALSALL) LIMITED (REGISTERED NUMBER: 00537875) |
ABRIDGED BALANCE SHEET - continued |
31 December 2023 |
The financial statements were approved by the director and authorised for issue on |
HIGH CROSS GARAGE (BALSALL) LIMITED (REGISTERED NUMBER: 00537875) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
High Cross Garage (Balsall) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year. |
Turnover |
Turnover represents rental income, excluding value added tax. Revenue is recognised on rental income in the period to which the income relates. |
Tangible fixed assets |
Depreciation of fixed assets is charges by annual instalments commencing with the date of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives. The rates being used are as follows: |
Investment properties | - | Not depreciated |
Plant and equipment | - | 10% straight line |
Short leasehold | - | Over 5 years |
Investment properties are included at valuation or, where in the opinion of the directors the open market value and original cost of the properties are not significantly different, at cost. No depreciation is provided on these properties as the estimated residual value of the properties approximates to the carrying value and any depreciation would be immaterial. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
HIGH CROSS GARAGE (BALSALL) LIMITED (REGISTERED NUMBER: 00537875) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Cost or valuation at 31 December 2023 is represented by: |
Totals |
£ |
Valuation in 2001 | 1,056,567 |
Valuation in 2007 | 235,000 |
Valuation in 2017 | 765,000 |
Cost | 960,140 |
3,016,707 |
If leasehold land and buildings had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 943,433 | 943,433 |
Investment properties were valued on an open market value basis on 31 December 2021 by the director . |