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REGISTERED NUMBER: 01050256 (England and Wales)















ABER-RHONDDA GARAGES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024






ABER-RHONDDA GARAGES LTD (REGISTERED NUMBER: 01050256)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ABER-RHONDDA GARAGES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTORS: Mr V F Porch
Ms M Porch
Mr C J Porch





REGISTERED OFFICE: Swn y mynydd
Heol Ffrwd Phillip
Efail Isaf
Pontypridd
Rhondda Cynon Taff
CF38 1AR





REGISTERED NUMBER: 01050256 (England and Wales)





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

ABER-RHONDDA GARAGES LTD (REGISTERED NUMBER: 01050256)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 383,787 385,049

CURRENT ASSETS
Cash at bank 82,732 72,202

CREDITORS
Amounts falling due within one year 5 14,416 14,563
NET CURRENT ASSETS 68,316 57,639
TOTAL ASSETS LESS CURRENT LIABILITIES 452,103 442,688

CREDITORS
Amounts falling due after more than one year 6 (4,250 ) (7,370 )

PROVISIONS FOR LIABILITIES (720 ) (959 )
NET ASSETS 447,133 434,359

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 203,706 203,706
Retained earnings 243,327 230,553
SHAREHOLDERS' FUNDS 447,133 434,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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 22nd October 2024 and were signed on its behalf by:





Mr C J Porch - Director


ABER-RHONDDA GARAGES LTD (REGISTERED NUMBER: 01050256)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024


1. STATUTORY INFORMATION

Aber-Rhondda Garages Ltd 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.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1st March 2023
and 29th February 2024 380,000 40,513 15,467 435,980
DEPRECIATION
At 1st March 2023 - 38,787 12,144 50,931
Charge for year - 431 831 1,262
At 29th February 2024 - 39,218 12,975 52,193
NET BOOK VALUE
At 29th February 2024 380,000 1,295 2,492 383,787
At 28th February 2023 380,000 1,726 3,323 385,049

ABER-RHONDDA GARAGES LTD (REGISTERED NUMBER: 01050256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,000 3,000
Trade creditors 3,000 2,000
Taxation and social security 5,968 6,416
Other creditors 2,448 3,147
14,416 14,563

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,250 7,370

7. RESERVES
Revaluation
reserve
£   
At 1st March 2023
and 29th February 2024 203,706