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REGISTERED NUMBER: 13919222 (England and Wales)















M AND M GARAGES (SOUTH WALES) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






M AND M GARAGES (SOUTH WALES) LIMITED (REGISTERED NUMBER: 13919222)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M AND M GARAGES (SOUTH WALES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Ms. W Bolton
Mr. B Bolton
Mr. M Ford
Mr. S Griffiths





REGISTERED OFFICE: M And M Garages
Moy Road Industrial Estate
Taffs Well
Cardiff
CF15 7QR





REGISTERED NUMBER: 13919222 (England and Wales)





ACCOUNTANTS: Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

M AND M GARAGES (SOUTH WALES) LIMITED (REGISTERED NUMBER: 13919222)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,680 22,140
Tangible assets 5 1,765 2,874
21,445 25,014

CURRENT ASSETS
Debtors 6 56,584 40,134
Cash at bank and in hand 81,922 48,931
138,506 89,065
CREDITORS
Amounts falling due within one year 7 159,294 104,923
NET CURRENT LIABILITIES (20,788 ) (15,858 )
TOTAL ASSETS LESS CURRENT LIABILITIES 657 9,156

CAPITAL AND RESERVES
Called up share capital 8 4 2
Retained earnings 653 9,154
SHAREHOLDERS' FUNDS 657 9,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 21st October 2024 and were signed on its behalf by:





Ms. W Bolton - Director


M AND M GARAGES (SOUTH WALES) LIMITED (REGISTERED NUMBER: 13919222)

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


1. STATUTORY INFORMATION

M And M Garages (South Wales) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, 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.
Fixtures and fittings - 33.33% straight line on cost
Motor vehicles - 33% on reducing balance
Computer equipment - 33.33% straight line on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

M AND M GARAGES (SOUTH WALES) LIMITED (REGISTERED NUMBER: 13919222)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 24,600
AMORTISATION
At 1st April 2023 2,460
Amortisation for year 2,460
At 31st March 2024 4,920
NET BOOK VALUE
At 31st March 2024 19,680
At 31st March 2023 22,140

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2023 289 2,000 2,000 4,289
Additions - - 133 133
At 31st March 2024 289 2,000 2,133 4,422
DEPRECIATION
At 1st April 2023 95 660 660 1,415
Charge for year 96 442 704 1,242
At 31st March 2024 191 1,102 1,364 2,657
NET BOOK VALUE
At 31st March 2024 98 898 769 1,765
At 31st March 2023 194 1,340 1,340 2,874

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 55,681 32,645
Other debtors 903 7,489
56,584 40,134

M AND M GARAGES (SOUTH WALES) LIMITED (REGISTERED NUMBER: 13919222)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 34,789 21,776
Taxation and social security 46,664 23,296
Other creditors 77,841 59,851
159,294 104,923

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary shares £1 4 2