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REGISTERED NUMBER: 10168688 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

The London Road Garage (Kelvedon)
Limited

The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The London Road Garage (Kelvedon)
Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr G M Eastall





REGISTERED OFFICE: The London Road Garage
London Road
Kelvedon
Colchester
Essex
CO5 9AU





REGISTERED NUMBER: 10168688 (England and Wales)

The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 16,282 24,425
Tangible assets 6 36,536 48,025
52,818 72,450

CURRENT ASSETS
Stocks 9,225 8,440
Debtors 7 4,506 3,772
Cash at bank and in hand 286,638 233,535
300,369 245,747
CREDITORS
Amounts falling due within one year 8 85,476 66,301
NET CURRENT ASSETS 214,893 179,446
TOTAL ASSETS LESS CURRENT
LIABILITIES

267,711

251,896

PROVISIONS FOR LIABILITIES 5,218 7,295
NET ASSETS 262,493 244,601

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 262,492 244,600
262,493 244,601

The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Balance Sheet - continued
31 May 2024


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

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

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 28 November 2024 and were signed by:





Mr G M Eastall - Director


The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

The London Road Garage (Kelvedon) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 2016, is being amortised evenly over its estimated useful life of ten years.

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.
Plant and machinery etc - 25% on reducing balance and 15% 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.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.


The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


3. ACCOUNTING POLICIES - continued
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.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 81,430
AMORTISATION
At 1 June 2023 57,005
Charge for year 8,143
At 31 May 2024 65,148
NET BOOK VALUE
At 31 May 2024 16,282
At 31 May 2023 24,425

The London Road Garage (Kelvedon)
Limited (Registered number: 10168688)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 84,186
Additions 2,654
Disposals (20,257 )
At 31 May 2024 66,583
DEPRECIATION
At 1 June 2023 36,161
Charge for year 7,078
Eliminated on disposal (13,192 )
At 31 May 2024 30,047
NET BOOK VALUE
At 31 May 2024 36,536
At 31 May 2023 48,025

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,506 3,772

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 36,980 35,037
Taxation and social security 37,946 28,183
Other creditors 10,550 3,081
85,476 66,301

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 30,000 30,000
Between one and five years 77,500 107,500
107,500 137,500