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REGISTERED NUMBER: 06907519 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

PEACOCK GARAGE SERVICES LIMITED

PEACOCK GARAGE SERVICES LIMITED (REGISTERED NUMBER: 06907519)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PEACOCK GARAGE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTOR: D M Holroyd



REGISTERED OFFICE: 175 Christleton Road
Great Broughton
Chester
CH3 5TA



REGISTERED NUMBER: 06907519 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
10 Nicholas Street
Chester
CH1 2NX



BANKERS: Santander UK plc
Bridle Road
Bootle
L30 4GB

PEACOCK GARAGE SERVICES LIMITED (REGISTERED NUMBER: 06907519)

BALANCE SHEET
31ST MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 42,500 51,000
Tangible assets 5 20,523 22,167
63,023 73,167

CURRENT ASSETS
Stocks 6 4,204 2,000
Debtors 7 553,910 499,677
Cash at bank and in hand 144,117 122,901
702,231 624,578
CREDITORS
Amounts falling due within one year 8 40,576 37,526
NET CURRENT ASSETS 661,655 587,052
TOTAL ASSETS LESS CURRENT
LIABILITIES

724,678

660,219

PROVISIONS FOR LIABILITIES 9 5,131 4,211
NET ASSETS 719,547 656,008

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 719,546 656,007
SHAREHOLDERS' FUNDS 719,547 656,008

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

PEACOCK GARAGE SERVICES LIMITED (REGISTERED NUMBER: 06907519)

BALANCE SHEET - continued
31ST MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5th September 2024 and were signed by:





D M Holroyd - Director


PEACOCK GARAGE SERVICES LIMITED (REGISTERED NUMBER: 06907519)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

Peacock Garage Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 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.
Plant and machinery - 15% on reducing balance
Equipment - 15% 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 Statement of Income and Retained Earnings, 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.


PEACOCK GARAGE SERVICES LIMITED (REGISTERED NUMBER: 06907519)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2023
and 31st May 2024 170,000
AMORTISATION
At 1st June 2023 119,000
Amortisation for year 8,500
At 31st May 2024 127,500
NET BOOK VALUE
At 31st May 2024 42,500
At 31st May 2023 51,000

PEACOCK GARAGE SERVICES LIMITED (REGISTERED NUMBER: 06907519)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery Equipment vehicles Totals
£    £    £    £   
COST
At 1st June 2023 73,280 2,922 8,562 84,764
Additions 3,051 - - 3,051
Disposals (6,100 ) - - (6,100 )
At 31st May 2024 70,231 2,922 8,562 81,715
DEPRECIATION
At 1st June 2023 52,876 1,979 7,742 62,597
Charge for year 602 142 205 949
Eliminated on disposal (2,354 ) - - (2,354 )
At 31st May 2024 51,124 2,121 7,947 61,192
NET BOOK VALUE
At 31st May 2024 19,107 801 615 20,523
At 31st May 2023 20,404 943 820 22,167

6. STOCKS
31.5.24 31.5.23
£    £   
Stocks 4,204 2,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 15,051 8,222
Directors' current accounts 426,568 399,587
Tax 112,086 90,679
Prepayments 205 1,189
553,910 499,677

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Tax 21,975 20,335
Social security and other taxes 2,028 1,644
VAT 10,698 9,335
Accrued expenses 5,875 6,212
40,576 37,526

9. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax
Accelerated capital allowances 5,131 4,211

PEACOCK GARAGE SERVICES LIMITED (REGISTERED NUMBER: 06907519)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st June 2023 4,211
Movement in the year due to:
changes in tax rates 1,232
changes in tax allowances (312 )
Balance at 31st May 2024 5,131

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary £1 1 1

11. CAPITAL COMMITMENTS
31.5.24 31.5.23
£    £   
Contracted but not provided for in the
financial statements - -

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following interest free advances and credits to a director subsisted during the years ended 31st May 2024 and 31st May 2023:

31.5.24 31.5.23
£    £   
D M Holroyd
Balance outstanding at start of year 399,588 336,291
Amounts advanced 74,152 113,614
Amounts repaid (47,172 ) (50,317 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 426,568 399,588

13. RELATED PARTY DISCLOSURES

During the year the company rented a premises from D Holroyd, a shareholder and director. The rent payable for the year was £27,700 (2023: £27,700).




14. ULTIMATE CONTROLLING PARTY

The controlling party is D M Holroyd.