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REGISTERED NUMBER: 07960889















WILLINGTON GARAGE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

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


WILLINGTON GARAGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: J E Williams





REGISTERED OFFICE: 4 Twyford Road
Willington
Derby
Derbyshire
DE65 6DE





REGISTERED NUMBER: 07960889

WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,449 57,565

CURRENT ASSETS
Stocks 227,400 181,400
Debtors 5 3,809 2,800
Cash at bank and in hand 120,429 137,816
351,638 322,016
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

132,038

167,416
NET CURRENT ASSETS 219,600 154,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

257,049

212,165

PROVISIONS FOR LIABILITIES 8 6,621 10,196
NET ASSETS 250,428 201,969

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 249,428 200,969
SHAREHOLDERS' FUNDS 250,428 201,969

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.

WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

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 15 November 2024 and were signed by:





J E Williams - Director


WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

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


1. STATUTORY INFORMATION

Willington Garage Ltd is a private company, limited by shares , registered in Not specified/Other. 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 represents net invoiced sales of goods and services, net of value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

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.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

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


2. ACCOUNTING POLICIES - continued

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the
employees are entitled are recognised at the undiscounted amount expected to be paid in exchange
for that service.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 12,999 103,648 28,283 144,930
DEPRECIATION
At 1 March 2023 9,100 63,264 15,001 87,365
Charge for year 1,300 13,705 5,111 20,116
At 29 February 2024 10,400 76,969 20,112 107,481
NET BOOK VALUE
At 29 February 2024 2,599 26,679 8,171 37,449
At 28 February 2023 3,899 40,384 13,282 57,565

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,050 1,133
Other debtors 1,759 1,667
3,809 2,800

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 16,544 37,859
Taxation and social security 37,437 18,349
Other creditors 78,057 111,208
132,038 167,416

WILLINGTON GARAGE LTD (REGISTERED NUMBER: 07960889)

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


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 20,000 16,000
Between one and five years 20,000 32,000
40,000 48,000

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 6,621 10,196

Deferred
tax
£   
Balance at 1 March 2023 10,196
Provided during year (3,575 )
Balance at 29 February 2024 6,621

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. RELATED PARTY DISCLOSURES

J E Williams

Included in other creditors is the following amount owed to the director, the amount is interest free and
repayable on demand.

2024 2023
£    £   
Amount due to related party at the balance sheet date 51,969 91,556

11. ULTIMATE CONTROLLING PARTY

The controlling party is J E Williams.