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REGISTERED NUMBER: 07232593 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Princes End Garage Limited

Princes End Garage Limited (Registered number: 07232593)






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


Princes End Garage Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: K Ahmed





REGISTERED OFFICE: 71 High Street
Princes End
Tipton
West Midlands
DY4 9JF





REGISTERED NUMBER: 07232593 (England and Wales)





ACCOUNTANTS: S R Higgs
Accountant
101 Dixons Green Road
Dudley
West Midlands
DY2 7DJ

Princes End Garage Limited (Registered number: 07232593)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,662 39,602

CURRENT ASSETS
Stocks 10,742 12,496
Debtors 5 - 662
Cash at bank and in hand 17,182 10,392
27,924 23,550
CREDITORS
Amounts falling due within one year 6 44,428 40,621
NET CURRENT LIABILITIES (16,504 ) (17,071 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,158

22,531

CREDITORS
Amounts falling due after more than one
year

7

(8,692

)

(15,658

)

PROVISIONS FOR LIABILITIES 8 (5,192 ) (4,694 )
NET ASSETS 3,274 2,179

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,174 2,079
SHAREHOLDERS' FUNDS 3,274 2,179

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 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.

Princes End Garage Limited (Registered number: 07232593)

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 director and authorised for issue on 30 September 2024 and were signed by:





K Ahmed - Director


Princes End Garage Limited (Registered number: 07232593)

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

1. STATUTORY INFORMATION

Princes End Garage 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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 is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Princes End Garage Limited (Registered number: 07232593)

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

2. ACCOUNTING POLICIES - continued

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 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 81,583
DEPRECIATION
At 1 April 2023 41,981
Charge for year 5,940
At 31 March 2024 47,921
NET BOOK VALUE
At 31 March 2024 33,662
At 31 March 2023 39,602

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 662

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 7,000 7,000
Trade creditors 9,688 15,067
Taxation and social security 10,154 11,331
Other creditors 17,586 7,223
44,428 40,621

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 8,692 15,658

Princes End Garage Limited (Registered number: 07232593)

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

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 5,192 4,694

Deferred
tax
£   
Balance at 1 April 2023 4,694
Provided during year 498
Balance at 31 March 2024 5,192

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K Ahmed.