Registered number
08872422
TDC Garage Services Limited
Unaudited Filleted Financial Statements
For the year-ended 31 March 2024
TDC Garage Services Limited
Registered number: 08872422
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,464 6,264
Current assets
Debtors 4 5,469 3,896
Cash at bank and in hand 15,932 15,600
21,401 19,496
Creditors: amounts falling due within one year 5 (18,679) (16,747)
Net current assets 2,722 2,749
Total assets less current liabilities 12,186 9,013
Creditors: amounts falling due after more than one year 6 (6,013) (8,731)
Net assets 6,173 282
Capital and reserves
Called up share capital 2 2
Profit and loss account 6,171 280
Shareholders' funds 6,173 282
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs C Trowbridge
Director
Approved by the board on 29 November 2024
TDC Garage Services Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment over 2 years
Motor Vehicles over 2 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2023 12,731 4,343 17,074
Additions 7,583 2,593 10,176
Disposals (2,938) - (2,938)
At 31 March 2024 17,376 6,936 24,312
Depreciation
At 1 April 2023 6,576 4,234 10,810
Charge for the year 6,228 748 6,976
On disposals (2,938) - (2,938)
At 31 March 2024 9,866 4,982 14,848
Net book value
At 31 March 2024 7,510 1,954 9,464
At 31 March 2023 6,155 109 6,264
4 Debtors 2024 2023
£ £
Trade debtors 2,352 3,896
Other debtors 3,117 -
5,469 3,896
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,260 4,259
Trade creditors 6,611 2,605
Other creditors 7,808 9,883
18,679 16,747
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,013 8,731
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 10,272 12,990
The bank loan is a bounceback loan and is guaranteed by HM Treasury.
8 Other information
TDC Garage Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1c
Icknield Way Farm Business Park
Tring Road
Dunstable
LU6 2JX
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