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REGISTERED NUMBER: 03199578 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

BRIXEY AUTO REPAIRS LIMITED

BRIXEY AUTO REPAIRS LIMITED (REGISTERED NUMBER: 03199578)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRIXEY AUTO REPAIRS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: N P Brixey
Mrs A J Brixey





SECRETARY: Mrs A J Brixey





REGISTERED OFFICE: 124 High Street
Midsomer Norton
Bath
BA3 2DA





REGISTERED NUMBER: 03199578 (England and Wales)





ACCOUNTANTS: PG Owen Limited
Chartered Accountants
124 High Street
Midsomer Norton
Bath
Avon
BA3 2DA

BRIXEY AUTO REPAIRS LIMITED (REGISTERED NUMBER: 03199578)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 194,871 186,917
194,871 186,917

CURRENT ASSETS
Stocks 9,384 8,791
Debtors 6 44,445 9,728
Cash at bank and in hand 737,298 765,167
791,127 783,686
CREDITORS
Amounts falling due within one year 7 119,921 167,632
NET CURRENT ASSETS 671,206 616,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

866,077

802,971

PROVISIONS FOR LIABILITIES 8 11,691 -
NET ASSETS 854,386 802,971

CAPITAL AND RESERVES
Called up share capital 12 12
Retained earnings 854,374 802,959
SHAREHOLDERS' FUNDS 854,386 802,971

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

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

BRIXEY AUTO REPAIRS LIMITED (REGISTERED NUMBER: 03199578)

BALANCE SHEET - continued
29 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:




N P Brixey - Director



Mrs A J Brixey - Director


BRIXEY AUTO REPAIRS LIMITED (REGISTERED NUMBER: 03199578)

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

1. STATUTORY INFORMATION

Brixey Auto Repairs 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 1996, is being amortised evenly over its estimated useful life of five years.

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.
Improvements to property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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 Income Statement, 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.

BRIXEY AUTO REPAIRS LIMITED (REGISTERED NUMBER: 03199578)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 5,545
AMORTISATION
At 1 March 2023
and 29 February 2024 5,545
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2023 178,477 105,229 25,695
Additions - - 13,307
Disposals - - (1,000 )
At 29 February 2024 178,477 105,229 38,002
DEPRECIATION
At 1 March 2023 35,383 86,975 22,443
Charge for year 3,569 4,563 4,081
Eliminated on disposal - - (763 )
At 29 February 2024 38,952 91,538 25,761
NET BOOK VALUE
At 29 February 2024 139,525 13,691 12,241
At 28 February 2023 143,094 18,254 3,252

BRIXEY AUTO REPAIRS LIMITED (REGISTERED NUMBER: 03199578)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 37,040 16,948 363,389
Additions 17,850 1,044 32,201
Disposals (5,050 ) - (6,050 )
At 29 February 2024 49,840 17,992 389,540
DEPRECIATION
At 1 March 2023 19,141 12,530 176,472
Charge for year 8,439 1,365 22,017
Eliminated on disposal (3,057 ) - (3,820 )
At 29 February 2024 24,523 13,895 194,669
NET BOOK VALUE
At 29 February 2024 25,317 4,097 194,871
At 28 February 2023 17,899 4,418 186,917

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,342 7,649
Other debtors 35,000 -
Prepayments and accrued income 2,103 2,079
44,445 9,728

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,771 42,201
Tax 43,151 30,151
Social security and other taxes 19,727 18,826
Other creditors 949 3,632
Directors' current accounts 20,178 68,822
Accrued expenses 5,145 4,000
119,921 167,632

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred taxation 11,691 -

BRIXEY AUTO REPAIRS LIMITED (REGISTERED NUMBER: 03199578)

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

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Accelerated capital allowances 11,691
Balance at 29 February 2024 11,691

9. RELATED PARTY DISCLOSURES

The company was under the control of N P Brixey throughout the current and previous period. Mr Brixey together with members of his close family own all the issued share capital of the company.
Where applicable, interest is charged on overdrawn directors' loan accounts at the official rate.