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REGISTERED NUMBER: 02883519 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

TOWN END GARAGE LIMITED

TOWN END GARAGE LIMITED (REGISTERED NUMBER: 02883519)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

TOWN END GARAGE LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mr S Newby
Mrs L Newby





SECRETARY: Mrs L Newby





REGISTERED OFFICE: 95 King Street
Lancaster
Lancashire
LA1 1RH





REGISTERED NUMBER: 02883519 (England and Wales)





ACCOUNTANTS: Taylor, Robertson & Willett Ltd
95 King Street
Lancaster
Lancashire
LA1 1RH

TOWN END GARAGE LIMITED (REGISTERED NUMBER: 02883519)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 651
Tangible assets 5 171,449 109,808
171,449 110,459

CURRENT ASSETS
Stocks 325,753 332,256
Debtors 6 35,154 14,121
Cash at bank 146,994 239,512
507,901 585,889
CREDITORS
Amounts falling due within one year 7 43,532 53,121
NET CURRENT ASSETS 464,369 532,768
TOTAL ASSETS LESS CURRENT
LIABILITIES

635,818

643,227

CREDITORS
Amounts falling due after more than one year 8 325,000 325,000
NET ASSETS 310,818 318,227

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 309,818 317,227
SHAREHOLDERS' FUNDS 310,818 318,227

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.

TOWN END GARAGE LIMITED (REGISTERED NUMBER: 02883519)

BALANCE SHEET - 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 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 30 October 2024 and were signed on its behalf by:





Mr S Newby - Director


TOWN END GARAGE LIMITED (REGISTERED NUMBER: 02883519)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Town End 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, has been fully amortised over it's estimated useful life.

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.
Freehold property - 5% Straight line on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% 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 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.


TOWN END GARAGE LIMITED (REGISTERED NUMBER: 02883519)

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 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.

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 3 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 18,500
AMORTISATION
At 1 April 2023 17,849
Amortisation for year 651
At 31 March 2024 18,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 651

TOWN END GARAGE LIMITED (REGISTERED NUMBER: 02883519)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 56,283 142,701 17,967 198,963 415,914
Additions - 356 - 130,000 130,356
Disposals - - - (156,000 ) (156,000 )
At 31 March 2024 56,283 143,057 17,967 172,963 390,270
DEPRECIATION
At 1 April 2023 47,954 104,756 12,753 140,643 306,106
Charge for year 1,000 5,708 1,308 4,484 12,500
Eliminated on disposal - - - (99,785 ) (99,785 )
At 31 March 2024 48,954 110,464 14,061 45,342 218,821
NET BOOK VALUE
At 31 March 2024 7,329 32,593 3,906 127,621 171,449
At 31 March 2023 8,329 37,945 5,214 58,320 109,808

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,200 7,011
Other debtors 6,954 7,110
35,154 14,121

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,127 6,125
Taxation and social security 4,011 11,205
Other creditors 37,394 35,791
43,532 53,121

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 325,000 325,000

TOWN END GARAGE LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
TOWN END 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Our report is prepared solely for the confidential use of the above-named and should not be relied upon by any third party without prior reference to ourselves.






Taylor, Robertson & Willett Ltd
95 King Street
Lancaster
Lancashire
LA1 1RH


30 October 2024