2023-04-012024-03-312024-03-31false04337499Denton Island Garage 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Denton Island Garage Ltd

Registered Number
04337499
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Denton Island Garage Ltd
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Michael William Swann
Mathew Lewis Swann

Registered Address

2 Upperton Gardens
Eastbourne
BN21 2AH

Registered Number

04337499 (England and Wales)
Denton Island Garage Ltd
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets320,48024,545
20,48024,545
Current assets
Stocks42,0002,000
Debtors560,48676,928
Cash at bank and on hand128,13185,541
190,617164,469
Creditors amounts falling due within one year6(73,828)(67,693)
Net current assets (liabilities)116,78996,776
Total assets less current liabilities137,269121,321
Provisions for liabilities7(3,891)(4,664)
Net assets133,378116,657
Capital and reserves
Called up share capital400400
Profit and loss account132,978116,257
Shareholders' funds133,378116,657
The financial statements were approved and authorised for issue by the Board of Directors on 2 October 2024, and are signed on its behalf by:
Michael William Swann
Director
Registered Company No. 04337499
Denton Island Garage Ltd
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year88
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 23112,9397,7966,015126,750
Additions2,180-2952,475
At 31 March 24115,1197,7966,310129,225
Depreciation and impairment
At 01 April 2388,4957,7965,914102,205
Charge for year6,474-666,540
At 31 March 2494,9697,7965,980108,745
Net book value
At 31 March 2420,150-33020,480
At 31 March 2324,444-10124,545
4.Stocks

2024

2023

££
Raw materials and consumables2,0002,000
Total2,0002,000
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables4,4886,101
Amounts owed by group undertakings52,65066,450
Prepayments and accrued income3,3484,377
Total60,48676,928
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables31,08522,029
Taxation and social security38,69937,400
Other creditors2,4455,474
Accrued liabilities and deferred income1,5992,790
Total73,82867,693
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)3,8914,664
Total3,8914,664