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REGISTERED NUMBER: 04710456 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ON-A-HILL GARAGE LTD

ON-A-HILL GARAGE LTD (REGISTERED NUMBER: 04710456)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


ON-A-HILL GARAGE LTD (REGISTERED NUMBER: 04710456)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 574,877 556,949
574,877 556,949

CURRENT ASSETS
Stocks 1,186,500 1,282,390
Debtors 6 74,561 72,265
Cash at bank and in hand 290,373 300,104
1,551,434 1,654,759
CREDITORS
Amounts falling due within one year 7 1,039,308 1,171,939
NET CURRENT ASSETS 512,126 482,820
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,087,003

1,039,769

CREDITORS
Amounts falling due after more than one
year

8

(177,482

)

(228,222

)

PROVISIONS FOR LIABILITIES 9 (50,272 ) (40,180 )
NET ASSETS 859,249 771,367

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 859,149 771,267
SHAREHOLDERS' FUNDS 859,249 771,367

ON-A-HILL GARAGE LTD (REGISTERED NUMBER: 04710456)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:




Mr G A Gove - Director Mrs P J Gove - Director




Mr L M Gove - Director Mrs P A Gove - Director


ON-A-HILL GARAGE LTD (REGISTERED NUMBER: 04710456)

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


1. STATUTORY INFORMATION

On-A-Hill Garage Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04710456

Registered office: Grenville House
9 Boutport Street
Barnstaple
Devon
EX31 1TZ

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 2003 has now been fully 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, 25% on cost, 15% on reducing balance and 10% on cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


ON-A-HILL GARAGE LTD (REGISTERED NUMBER: 04710456)

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

ON-A-HILL GARAGE LTD (REGISTERED NUMBER: 04710456)

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 90,000
AMORTISATION
At 1 April 2023
and 31 March 2024 90,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2023 365,000 109,970 236,043
Additions - 7,781 37,514
Disposals - - (43,608 )
At 31 March 2024 365,000 117,751 229,949
DEPRECIATION
At 1 April 2023 64,000 51,533 151,568
Charge for year 16,000 10,276 31,905
Eliminated on disposal - - (43,051 )
At 31 March 2024 80,000 61,809 140,422
NET BOOK VALUE
At 31 March 2024 285,000 55,942 89,527
At 31 March 2023 301,000 58,437 84,475

ON-A-HILL GARAGE LTD (REGISTERED NUMBER: 04710456)

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


5. TANGIBLE FIXED ASSETS - continued

Pool Motor Computer
vehicles vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 3,637 190,179 19,821 924,650
Additions - 43,500 24,881 113,676
Disposals - (4,800 ) (9,134 ) (57,542 )
At 31 March 2024 3,637 228,879 35,568 980,784
DEPRECIATION
At 1 April 2023 967 83,406 16,227 367,701
Charge for year 364 30,550 6,096 95,191
Eliminated on disposal - (4,800 ) (9,134 ) (56,985 )
At 31 March 2024 1,331 109,156 13,189 405,907
NET BOOK VALUE
At 31 March 2024 2,306 119,723 22,379 574,877
At 31 March 2023 2,670 106,773 3,594 556,949

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 42,235 35,229
Other debtors 32,326 37,036
74,561 72,265

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,819 29,126
Hire purchase contracts 16,870 16,440
Trade creditors 751,049 848,294
Taxation and social security 190,728 210,742
Other creditors 58,842 67,337
1,039,308 1,171,939

ON-A-HILL GARAGE LTD (REGISTERED NUMBER: 04710456)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 61,443 80,019
Bank loans more than 5 years 98,646 113,940
Hire purchase contracts 17,393 34,263
177,482 228,222

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 98,646 113,940

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 50,272 40,180

Deferred
tax
£   
Balance at 1 April 2023 40,180
Provided during year 10,092
Balance at 31 March 2024 50,272

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
NIL Ordinary £1 - 100
(2023 - 100 )
30 Ordinary 'A' £1 30 -
30 Ordinary 'B' £1 30 -
20 Ordinary 'C' £1 20 -
20 Ordinary 'D' £1 20 -
100 100

ON-A-HILL GARAGE LTD (REGISTERED NUMBER: 04710456)

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


11. RESERVES
Retained
earnings
£   

At 1 April 2023 771,267
Profit for the year 115,882
Dividends (28,000 )
At 31 March 2024 859,149