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REGISTERED NUMBER: 09120141 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

TRUNCH GARAGE LIMITED

TRUNCH GARAGE LIMITED (REGISTERED NUMBER: 09120141)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TRUNCH GARAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: G A Payne
G Payne
T A Payne





REGISTERED OFFICE: Bradfield Road
Trunch
Norfolk
NR28 0QL





REGISTERED NUMBER: 09120141 (England and Wales)





ACCOUNTANTS: NMP Accounting
Chartered Certified Accountant
Mill House
1 Mill Lane
Horsford
Norfolk
NR10 3ES

TRUNCH GARAGE LIMITED (REGISTERED NUMBER: 09120141)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,500 4,500
Tangible assets 5 84,704 80,692
86,204 85,192

CURRENT ASSETS
Stocks 4,375 4,150
Debtors 6 14,545 19,827
Cash at bank and in hand 169,614 128,762
188,534 152,739
CREDITORS
Amounts falling due within one year 7 92,735 73,725
NET CURRENT ASSETS 95,799 79,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,003

164,206

PROVISIONS FOR LIABILITIES 15,949 15,155
NET ASSETS 166,054 149,051

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 165,754 148,751
SHAREHOLDERS' FUNDS 166,054 149,051

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.

TRUNCH GARAGE LIMITED (REGISTERED NUMBER: 09120141)

STATEMENT OF FINANCIAL POSITION - 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 7 October 2024 and were signed on its behalf by:




G A Payne - Director



T A Payne - Director


TRUNCH GARAGE LIMITED (REGISTERED NUMBER: 09120141)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Trunch 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 2014, 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 etc - 25% on reducing balance and 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.

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 statement of financial position date.


TRUNCH GARAGE LIMITED (REGISTERED NUMBER: 09120141)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 8 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023 25,500
Charge for year 3,000
At 31 March 2024 28,500
NET BOOK VALUE
At 31 March 2024 1,500
At 31 March 2023 4,500

TRUNCH GARAGE LIMITED (REGISTERED NUMBER: 09120141)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 161,403
Additions 27,656
Disposals (6,667 )
At 31 March 2024 182,392
DEPRECIATION
At 1 April 2023 80,711
Charge for year 22,458
Eliminated on disposal (5,481 )
At 31 March 2024 97,688
NET BOOK VALUE
At 31 March 2024 84,704
At 31 March 2023 80,692

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 10,514 16,296
Other debtors 4,031 3,531
14,545 19,827

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 24,872 33,265
Taxation and social security 58,286 36,308
Other creditors 9,577 4,152
92,735 73,725

8. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors.