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REGISTERED NUMBER: 06807168 (England and Wales)












Unaudited Financial Statements for the Year Ended 30 June 2024

for

N P Byrne Garages Limited

N P Byrne Garages Limited (Registered number: 06807168)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


N P Byrne Garages Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: N P Byrne
R J Byrne
Mrs M C Byrne





SECRETARY: Mrs M C Byrne





REGISTERED OFFICE: 25 Pasture Road
Stapleford
Nottinghamshire
NG9 8HR





REGISTERED NUMBER: 06807168 (England and Wales)





ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB

N P Byrne Garages Limited (Registered number: 06807168)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 15,488 15,618
15,488 15,618

CURRENT ASSETS
Stocks 2,545 2,545
Debtors 6 8,003 8,830
Cash at bank and in hand 306,858 264,696
317,406 276,071
CREDITORS
Amounts falling due within one year 7 133,945 156,710
NET CURRENT ASSETS 183,461 119,361
TOTAL ASSETS LESS CURRENT
LIABILITIES

198,949

134,979

PROVISIONS FOR LIABILITIES 3,859 2,955
NET ASSETS 195,090 132,024

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 195,080 132,014
SHAREHOLDERS' FUNDS 195,090 132,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

N P Byrne Garages Limited (Registered number: 06807168)

Statement of Financial Position - continued
30 June 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 18 November 2024 and were signed on its behalf by:




N P Byrne - Director Mrs M C Byrne - Director




R J Byrne - Director


N P Byrne Garages Limited (Registered number: 06807168)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

N P Byrne 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 2009, 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

N P Byrne Garages Limited (Registered number: 06807168)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

Loans from directors
Any loans from the Director's to the company are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 180,000
AMORTISATION
At 1 July 2023
and 30 June 2024 180,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 53,989 14,817 4,650 73,456
Additions 1,600 2,168 - 3,768
At 30 June 2024 55,589 16,985 4,650 77,224
DEPRECIATION
At 1 July 2023 41,324 12,275 4,239 57,838
Charge for year 2,853 942 103 3,898
At 30 June 2024 44,177 13,217 4,342 61,736
NET BOOK VALUE
At 30 June 2024 11,412 3,768 308 15,488
At 30 June 2023 12,665 2,542 411 15,618

N P Byrne Garages Limited (Registered number: 06807168)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,162 6,231
Called up share capital not paid 4 4
Prepayments 2,837 2,595
8,003 8,830

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 26,583 30,290
Tax 41,368 24,206
Social security and other taxes (1,494 ) 2,595
VAT 20,841 14,977
Other creditors 1,113 437
Directors' current accounts 42,304 81,115
Accrued expenses 3,230 3,090
133,945 156,710

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
6 Ordinary 1 6 6
4 Ordinary A - D 1 4 4
10 10