Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31trueMaintenance and repair of motor vehicles2023-06-01false33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04763303 2023-06-01 2024-05-31 04763303 2022-06-01 2023-05-31 04763303 2024-05-31 04763303 2023-05-31 04763303 2022-06-01 04763303 c:Director1 2023-06-01 2024-05-31 04763303 d:PlantMachinery 2023-06-01 2024-05-31 04763303 d:PlantMachinery 2024-05-31 04763303 d:PlantMachinery 2023-05-31 04763303 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04763303 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 04763303 d:MotorVehicles 2023-06-01 2024-05-31 04763303 d:MotorVehicles 2024-05-31 04763303 d:MotorVehicles 2023-05-31 04763303 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04763303 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 04763303 d:OfficeEquipment 2023-06-01 2024-05-31 04763303 d:OfficeEquipment 2024-05-31 04763303 d:OfficeEquipment 2023-05-31 04763303 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04763303 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 04763303 d:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 04763303 d:OtherPropertyPlantEquipment 2024-05-31 04763303 d:OtherPropertyPlantEquipment 2023-05-31 04763303 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04763303 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 04763303 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04763303 d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 04763303 d:CurrentFinancialInstruments 2024-05-31 04763303 d:CurrentFinancialInstruments 2023-05-31 04763303 d:Non-currentFinancialInstruments 2024-05-31 04763303 d:Non-currentFinancialInstruments 2023-05-31 04763303 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 04763303 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 04763303 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 04763303 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 04763303 d:ShareCapital 2024-05-31 04763303 d:ShareCapital 2023-05-31 04763303 d:RetainedEarningsAccumulatedLosses 2024-05-31 04763303 d:RetainedEarningsAccumulatedLosses 2023-05-31 04763303 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-05-31 04763303 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-05-31 04763303 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 04763303 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 04763303 d:RetirementBenefitObligationsDeferredTax 2024-05-31 04763303 d:RetirementBenefitObligationsDeferredTax 2023-05-31 04763303 c:FRS102 2023-06-01 2024-05-31 04763303 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04763303 c:FullAccounts 2023-06-01 2024-05-31 04763303 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04763303 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-05-31 04763303 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-31 04763303 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 04763303










CASTLE STREET GARAGE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
CASTLE STREET GARAGE LIMITED
REGISTERED NUMBER: 04763303

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
64,133
29,020

Current assets
  

Stocks
  
5,500
4,500

Debtors: amounts falling due within one year
 5 
17,187
7,868

Cash at bank and in hand
  
20,032
28,421

  
42,719
40,789

Creditors: amounts falling due within one year
 6 
(62,110)
(63,224)

Net current liabilities
  
 
 
(19,391)
 
 
(22,435)

Total assets less current liabilities
  
44,742
6,585

Creditors: amounts falling due after more than one year
 7 
(22,034)
-

Provisions for liabilities
  

Deferred tax
 9 
(15,996)
(6,367)

Net assets
  
6,712
218


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
6,612
118

  
6,712
218


Page 1

 
CASTLE STREET GARAGE LIMITED
REGISTERED NUMBER: 04763303
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 November 2024.




M J Fisher
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CASTLE STREET GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Castle Street Garage Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 04763303). Its registered office is 2 Ashgate Road, Chesterfield, S40 4AA. The principal activity of the Company throughout the year continued to be that of the maintenance and repair of motor vehicles. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling. 

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
Page 3

 
CASTLE STREET GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Office equipment
-
20%
Reducing balance
Property improvements
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.
 
 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

 
2.6

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings  when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
CASTLE STREET GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
CASTLE STREET GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Property improvements
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
79,418
13,557
4,781
1,011
98,767


Additions
2,660
48,250
1,718
-
52,628



At 31 May 2024

82,078
61,807
6,499
1,011
151,395



Depreciation


At 1 June 2023
62,312
5,499
1,525
411
69,747


Charge for the year on owned assets
3,510
2,014
814
120
6,458


Charge for the year on financed assets
-
11,057
-
-
11,057



At 31 May 2024

65,822
18,570
2,339
531
87,262



Net book value



At 31 May 2024
16,256
43,237
4,160
480
64,133



At 31 May 2023
17,106
8,058
3,256
600
29,020

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
37,193
-



Page 6

 
CASTLE STREET GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
7,437
627

Other debtors
2,345
-

Prepayments and accrued income
7,405
7,241

17,187
7,868



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
9,683
-

Trade creditors
118
16,161

Amounts owed to group undertakings
15,239
15,207

Corporation tax
13,227
19,241

Other taxation and social security
11,272
9,278

Obligations under hire purchase contracts
8,945
-

Other creditors
3,626
3,337

62,110
63,224



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Obligations under hire purchase contracts
22,034
-


Included within creditors are secured liabilities in respect of obligations under hire purchase contracts as detailed above in creditors due in both less than one year and more than one year. 

Page 7

 
CASTLE STREET GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
20,032
28,421




Financial assets measured at fair value through profit or loss comprise...

Page 8

 
CASTLE STREET GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
6,367
5,824


Charged to the Statement of Income and Retained Earnings
9,629
543



At end of year
15,996
6,367

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
16,033
6,384

Pension surplus
(37)
(17)

15,996
6,367


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,484 (2023 - £512). Contributions totalling £150 (2023 - £79) were payable to the fund at the Balance Sheet date and are included in creditors.

 
Page 9