Acorah Software Products - Accounts Production 16.0.110 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 10656240 Mr Kevin Dunnett Mr Matthew Dunnett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10656240 2023-07-31 10656240 2024-07-31 10656240 2023-08-01 2024-07-31 10656240 frs-core:CurrentFinancialInstruments 2024-07-31 10656240 frs-core:Non-currentFinancialInstruments 2024-07-31 10656240 frs-core:BetweenOneFiveYears 2024-07-31 10656240 frs-core:ComputerEquipment 2024-07-31 10656240 frs-core:ComputerEquipment 2023-08-01 2024-07-31 10656240 frs-core:ComputerEquipment 2023-07-31 10656240 frs-core:FurnitureFittings 2024-07-31 10656240 frs-core:FurnitureFittings 2023-08-01 2024-07-31 10656240 frs-core:FurnitureFittings 2023-07-31 10656240 frs-core:NetGoodwill 2024-07-31 10656240 frs-core:NetGoodwill 2023-08-01 2024-07-31 10656240 frs-core:NetGoodwill 2023-07-31 10656240 frs-core:MotorVehicles 2024-07-31 10656240 frs-core:MotorVehicles 2023-08-01 2024-07-31 10656240 frs-core:MotorVehicles 2023-07-31 10656240 frs-core:PlantMachinery 2024-07-31 10656240 frs-core:PlantMachinery 2023-08-01 2024-07-31 10656240 frs-core:PlantMachinery 2023-07-31 10656240 frs-core:WithinOneYear 2024-07-31 10656240 frs-core:ShareCapital 2024-07-31 10656240 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 10656240 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10656240 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 10656240 frs-bus:SmallEntities 2023-08-01 2024-07-31 10656240 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10656240 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10656240 frs-bus:Director1 2023-08-01 2024-07-31 10656240 frs-bus:Director1 2023-07-31 10656240 frs-bus:Director1 2024-07-31 10656240 frs-bus:Director2 2023-08-01 2024-07-31 10656240 frs-bus:Director2 2023-07-31 10656240 frs-bus:Director2 2024-07-31 10656240 frs-countries:EnglandWales 2023-08-01 2024-07-31 10656240 2022-07-31 10656240 2023-07-31 10656240 2022-08-01 2023-07-31 10656240 frs-core:CurrentFinancialInstruments 2023-07-31 10656240 frs-core:Non-currentFinancialInstruments 2023-07-31 10656240 frs-core:BetweenOneFiveYears 2023-07-31 10656240 frs-core:WithinOneYear 2023-07-31 10656240 frs-core:ShareCapital 2023-07-31 10656240 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 10656240
Plymstock Garage Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
TS Partners Ltd
34 Devon Square
Newton Abbot
Devon
TQ12 2HH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10656240
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 18,000 19,000
Tangible Assets 5 66,908 50,997
84,908 69,997
CURRENT ASSETS
Stocks 6 350 2,100
Debtors 7 5,825 21,381
Cash at bank and in hand 39,276 17,265
45,451 40,746
Creditors: Amounts Falling Due Within One Year 8 (105,016 ) (89,047 )
NET CURRENT ASSETS (LIABILITIES) (59,565 ) (48,301 )
TOTAL ASSETS LESS CURRENT LIABILITIES 25,343 21,696
Creditors: Amounts Falling Due After More Than One Year 9 (19,847 ) (21,687 )
NET ASSETS 5,496 9
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 5,494 7
SHAREHOLDERS' FUNDS 5,496 9
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kevin Dunnett
Director
Mr Matthew Dunnett
Director
06/11/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Plymstock Garage Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10656240 . The registered office is 34 Devon Square, Newton Abbot, TQ12 2HH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing balance method
Motor Vehicles 15% Reducing balance method
Fixtures & Fittings 15% Reducing balance method
Computer Equipment 15% Reducing balance method
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 20,000
As at 31 July 2024 20,000
Amortisation
As at 1 August 2023 1,000
Provided during the period 1,000
As at 31 July 2024 2,000
Net Book Value
As at 31 July 2024 18,000
As at 1 August 2023 19,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 20,276 66,800 3,058 1,811 91,945
Additions 146 29,115 - 1,003 30,264
Disposals - (25,802 ) - - (25,802 )
As at 31 July 2024 20,422 70,113 3,058 2,814 96,407
Depreciation
As at 1 August 2023 10,991 27,821 1,904 232 40,948
...CONTINUED
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Page 5
Provided during the period 1,396 5,735 173 363 7,667
Disposals - (19,116 ) - - (19,116 )
As at 31 July 2024 12,387 14,440 2,077 595 29,499
Net Book Value
As at 31 July 2024 8,035 55,673 981 2,219 66,908
As at 1 August 2023 9,285 38,979 1,154 1,579 50,997
6. Stocks
2024 2023
£ £
Materials 350 2,100
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,946 2,080
Prepayments and accrued income 1,879 2,158
Directors' loan accounts - 17,143
5,825 21,381
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,518 5,703
Trade creditors 22,320 15,390
Bank loans and overdrafts 31,257 31,970
Corporation tax 20,375 10,991
Other taxes and social security 7,032 7,891
VAT 6,524 11,888
Other creditors 6,808 5,214
Directors' loan accounts 1,182 -
105,016 89,047
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 17,885 12,983
Bank loans 1,962 8,704
19,847 21,687
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,518 5,703
Later than one year and not later than five years 17,885 12,983
27,403 18,686
27,403 18,686
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Kevin Dunnett 8,571 - 8,571 - -
Mr Matthew Dunnett 8,571 - 8,571 - -
The above loan is unsecured, interest free and repayable on demand.
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