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REGISTERED NUMBER: 04934055 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

G WILLIAMSON GARAGES LIMITED

G WILLIAMSON GARAGES LIMITED (REGISTERED NUMBER: 04934055)






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


G WILLIAMSON GARAGES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: N J Nicholson





REGISTERED OFFICE: Unit 84
Pexton Road
Kelleythorpe Industrial Estate
Driffield
East Yorkshire
YO25 9DJ





REGISTERED NUMBER: 04934055 (England and Wales)





ACCOUNTANTS: Jackson Robson Licence Limited
33-35 Exchange Street
Driffield
East Yorkshire
YO25 6LL

G WILLIAMSON GARAGES LIMITED (REGISTERED NUMBER: 04934055)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 500 1,000
Tangible assets 5 36,979 22,365
37,479 23,365

CURRENT ASSETS
Stocks 129,052 166,570
Debtors 6 17,155 18,915
Cash at bank and in hand 189,448 120,254
335,655 305,739
CREDITORS
Amounts falling due within one year 7 96,139 73,096
NET CURRENT ASSETS 239,516 232,643
TOTAL ASSETS LESS CURRENT
LIABILITIES

276,995

256,008

CREDITORS
Amounts falling due after more than one
year

8

26,153

35,903
NET ASSETS 250,842 220,105

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 9 223,726 223,726
Retained earnings 9 27,016 (3,721 )
SHAREHOLDERS' FUNDS 250,842 220,105

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 director acknowledges his 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.

G WILLIAMSON GARAGES LIMITED (REGISTERED NUMBER: 04934055)

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 director and authorised for issue on 26 April 2024 and were signed by:





N J Nicholson - Director


G WILLIAMSON GARAGES LIMITED (REGISTERED NUMBER: 04934055)

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

1. STATUTORY INFORMATION

G Williamson Garages 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 2005, is being amortised evenly over its estimated useful life of twenty 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 - 5% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 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.

G WILLIAMSON GARAGES LIMITED (REGISTERED NUMBER: 04934055)

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 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 10,000
AMORTISATION
At 1 March 2023 9,000
Charge for year 500
At 29 February 2024 9,500
NET BOOK VALUE
At 29 February 2024 500
At 28 February 2023 1,000

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2023 4,931 107,663 5,811
Additions - 16,416 622
At 29 February 2024 4,931 124,079 6,433
DEPRECIATION
At 1 March 2023 3,063 93,989 3,076
Charge for year 93 5,205 564
At 29 February 2024 3,156 99,194 3,640
NET BOOK VALUE
At 29 February 2024 1,775 24,885 2,793
At 28 February 2023 1,868 13,674 2,735

G WILLIAMSON GARAGES LIMITED (REGISTERED NUMBER: 04934055)

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 11,190 15,466 145,061
Additions 5,945 - 22,983
At 29 February 2024 17,135 15,466 168,044
DEPRECIATION
At 1 March 2023 8,217 14,351 122,696
Charge for year 2,229 278 8,369
At 29 February 2024 10,446 14,629 131,065
NET BOOK VALUE
At 29 February 2024 6,689 837 36,979
At 28 February 2023 2,973 1,115 22,365

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,557 18,007
Other debtors 6,598 908
17,155 18,915

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 2,868 5,366
Trade creditors 30,612 28,777
Taxation and social security 13,446 9,908
Other creditors 49,213 29,045
96,139 73,096

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 26,153 35,903

G WILLIAMSON GARAGES LIMITED (REGISTERED NUMBER: 04934055)

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

9. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 March 2023 (3,721 ) 223,726 220,005
Profit for the year 50,737 50,737
Dividends (20,000 ) (20,000 )
At 29 February 2024 27,016 223,726 250,742

10. RELATED PARTY DISCLOSURES

Transactions with the director during the year were as follows:
At 1st March 2023 the company owed Mr N J Nicholson £25,790.
During the year he took drawings totalling £90 and introduced capital of £20,000.
At 29th February 2024 the company owed Mr N J Nicholson £45,700.
There are no fixed terms of repayment.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr N Nicholson.