GRAND GARAGE LIMITED

Company Registration Number:
10132279 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

GRAND GARAGE LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Notes

GRAND GARAGE LIMITED

Balance sheet

As at 30 April 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 1,466 1,725
Total fixed assets: 1,466 1,725
Current assets
Stocks: 420,361 472,867
Debtors:   54,477 94,671
Cash at bank and in hand: 493,496 310,554
Total current assets: 968,334 878,092
Creditors: amounts falling due within one year:   (932,719) (855,364)
Net current assets (liabilities): 35,615 22,728
Total assets less current liabilities: 37,081 24,453
Total net assets (liabilities): 37,081 24,453
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 36,981 24,353
Shareholders funds: 37,081 24,453

The notes form part of these financial statements

GRAND GARAGE LIMITED

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 18 November 2024
and signed on behalf of the board by:

Name: Ronald William Hodges
Status: Director

The notes form part of these financial statements

GRAND GARAGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Turnover policy

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tangible fixed assets and depreciation policy

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Asset class Depreciation method and rate Plant and machinery 15% per annum on the reducing balance

Valuation and information policy

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

GRAND GARAGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

2. Employees

2024 2023
Average number of employees during the period 16 17

GRAND GARAGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible Assets

Total
Cost £
At 01 May 2023 4,573
At 30 April 2024 4,573
Depreciation
At 01 May 2023 2,848
Charge for year 259
At 30 April 2024 3,107
Net book value
At 30 April 2024 1,466
At 30 April 2023 1,725