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Registered number: 07574714
St Johns Garage Limited
ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Dodgson Matty Partnership
22 The Tything
Worcester
WR1 1HD
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 07574714
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 93,066 77,590
93,066 77,590
CURRENT ASSETS
Debtors 864,968 898,812
Cash at bank and in hand 477,590 518,221
1,342,558 1,417,033
Creditors: Amounts Falling Due Within One Year (311,008 ) (240,329 )
NET CURRENT ASSETS (LIABILITIES) 1,031,550 1,176,704
TOTAL ASSETS LESS CURRENT LIABILITIES 1,124,616 1,254,294
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,810 ) (8,380 )
NET ASSETS 1,113,806 1,245,914
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 1,113,706 1,245,814
SHAREHOLDERS' FUNDS 1,113,806 1,245,914
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
M P Jeffreys
Director
10 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
St Johns Garage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07574714 . The registered office is Unit 1, Bransford Road Trading Estate, St Johns, Worcester, WR2 4EU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account and has been fully written down.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 25% on cost
Plant & Machinery 25% on cost
Motor Vehicles 25% on cost
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 18)
19 18
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4. Intangible Assets
Total
£
Cost
As at 1 April 2023 2,500
As at 31 March 2024 2,500
Amortisation
As at 1 April 2023 2,500
As at 31 March 2024 2,500
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Total
£
Cost
As at 1 April 2023 304,476
Additions 40,787
As at 31 March 2024 345,263
Depreciation
As at 1 April 2023 226,886
Provided during the period 25,311
As at 31 March 2024 252,197
Net Book Value
As at 31 March 2024 93,066
As at 1 April 2023 77,590
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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7. Related Party Transactions
Intercompany Debtor - Jeffreys Holdings Limited
Jeffreys Holdings Limited is a company under common control.
At the balance sheet date Jeffreys Holdings Limited owed £591,763 (2023 : £591,763) to St Johns Garage Limited.
This loan carries no right to interest and is repayable on demand.
Intercompany Debtor - Jeffreys Properties Limited
Jeffreys Properties Limited is a company under common control.
At the balance sheet date Jeffreys Properties Limited owed £196,592 (2023 : £200,000) to St Johns Garage Limited.
This loan carries no right to interest and is repayable on demand.
Intercompany Creditor - RPM (Malvern) Limited
RPM (Malvern) Limited is a company indirectly under common control.
At the balance sheet date RPM (Malvern) Limited was owed £60,763 (2023 : £42,063) by St Johns Garage Limited.
This loan carries no right to interest and is repayable on demand.
Directors Loan - M P Jeffreys
At the balance sheet date M P Jeffreys was owed £43,644 (2023 : £274) by St Johns Garage Limited.
This loan carries no right to interest and is repayable on demand.
8. Ultimate Controlling Party
The company is controlled by M P Jeffreys.
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