Company Registration No. 04662334 (England and Wales)
Ladyroyd Garage Limited
Unaudited accounts
for the year ended 31 March 2024
Ladyroyd Garage Limited
Unaudited accounts
Contents
Ladyroyd Garage Limited
Statement of financial position
as at 31 March 2024
Tangible assets
1,352,494
1,183,696
Cash at bank and in hand
846,084
679,517
Creditors: amounts falling due within one year
(701,222)
(580,560)
Net current assets
347,099
345,886
Total assets less current liabilities
1,699,594
1,529,583
Creditors: amounts falling due after more than one year
(15,046)
(25,046)
Provisions for liabilities
Deferred tax
(297,956)
(278,193)
Net assets
1,386,592
1,226,344
Called up share capital
2,000
2,000
Profit and loss account
1,384,592
1,224,344
Shareholders' funds
1,386,592
1,226,344
For the year ending 31 March 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2024 and were signed on its behalf by
David Thornes
Director
Company Registration No. 04662334
Ladyroyd Garage Limited
Notes to the Accounts
for the year ended 31 March 2024
Ladyroyd Garage Limited is a private company, limited by shares, registered in England and Wales, registration number 04662334. The registered office is 507 Thornton Road, Girlington, Bradford, West Yorkshire, BD8 9RB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable for goods and services in the normal course of business, and is shown net of VAT.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Ladyroyd Garage Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2023
330,281
2,024,904
2,355,185
Additions
-
461,086
461,086
Disposals
-
(95,833)
(95,833)
At 31 March 2024
330,281
2,390,157
2,720,438
At 1 April 2023
261,548
909,941
1,171,489
Charge for the year
2,062
222,032
224,094
On disposals
-
(27,639)
(27,639)
At 31 March 2024
263,610
1,104,334
1,367,944
At 31 March 2024
66,671
1,285,823
1,352,494
At 31 March 2023
68,733
1,114,963
1,183,696
Amounts falling due within one year
Trade debtors
196,282
187,662
Other debtors
3,680
56,992
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
10,000
Trade creditors
624,093
465,391
Taxes and social security
41,662
43,269
Other creditors
25,467
61,900
Ladyroyd Garage Limited
Notes to the Accounts
for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 20 (2023: 20).