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REGISTERED NUMBER: 07384145 (England and Wales)
















Financial Statements

for the Year Ended 31 March 2024

for

Ashley Garage Limited

Ashley Garage Limited (Registered number: 07384145)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Ashley Garage Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P W Miller
G V Miller
P A Trevor
H K Trevor





REGISTERED OFFICE: 701 Stonehouse Park
Sperry Way
Stonehouse
Glos
GL10 3UT





REGISTERED NUMBER: 07384145 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ashley Garage Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GCSD Accountants Limited


8 October 2024

Ashley Garage Limited (Registered number: 07384145)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 46,815 49,674
46,815 49,674

CURRENT ASSETS
Stocks 165,992 158,696
Debtors 6 441,957 436,667
Cash at bank and in hand 2,011,984 1,950,790
2,619,933 2,546,153
CREDITORS
Amounts falling due within one year 7 833,387 1,011,692
NET CURRENT ASSETS 1,786,546 1,534,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,833,361

1,584,135

PROVISIONS FOR LIABILITIES 6,060 6,245
NET ASSETS 1,827,301 1,577,890

Ashley Garage Limited (Registered number: 07384145)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,826,301 1,576,890
SHAREHOLDERS' FUNDS 1,827,301 1,577,890

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





P W Miller - Director


Ashley Garage Limited (Registered number: 07384145)

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


1. STATUTORY INFORMATION

Ashley 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% 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.

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.

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 39 (2023 - 37 ) .

Ashley Garage Limited (Registered number: 07384145)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 540,000
AMORTISATION
At 1 April 2023
and 31 March 2024 540,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 224,873
Additions 8,907
At 31 March 2024 233,780
DEPRECIATION
At 1 April 2023 175,199
Charge for year 11,766
At 31 March 2024 186,965
NET BOOK VALUE
At 31 March 2024 46,815
At 31 March 2023 49,674

Ashley Garage Limited (Registered number: 07384145)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 191,225 115,337
Other debtors 250,732 321,330
441,957 436,667

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 271,239 268,230
Taxation and social security 221,294 162,258
Other creditors 340,854 581,204
833,387 1,011,692

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 185,000 185,000
Between one and five years 46,250 231,250
231,250 416,250