IRIS Accounts Production v24.3.0.553 06289634 Board of Directors 1.6.23 31.5.24 31.5.24 0 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh062896342023-05-31062896342024-05-31062896342023-06-012024-05-31062896342022-05-31062896342022-06-012023-05-31062896342023-05-3106289634ns15:EnglandWales2023-06-012024-05-3106289634ns14:PoundSterling2023-06-012024-05-3106289634ns10:Director12023-06-012024-05-3106289634ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3106289634ns10:SmallEntities2023-06-012024-05-3106289634ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3106289634ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3106289634ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3106289634ns10:FullAccounts2023-06-012024-05-310628963412023-06-012024-05-3106289634ns10:Director22023-06-012024-05-3106289634ns10:RegisteredOffice2023-06-012024-05-3106289634ns5:CurrentFinancialInstruments2024-05-3106289634ns5:CurrentFinancialInstruments2023-05-3106289634ns5:ShareCapital2024-05-3106289634ns5:ShareCapital2023-05-3106289634ns5:RetainedEarningsAccumulatedLosses2024-05-3106289634ns5:RetainedEarningsAccumulatedLosses2023-05-3106289634ns5:NetGoodwill2023-06-012024-05-3106289634ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3106289634ns5:PlantMachinery2023-06-012024-05-3106289634ns5:NetGoodwill2023-05-3106289634ns5:NetGoodwill2024-05-3106289634ns5:NetGoodwill2023-05-3106289634ns5:PlantMachinery2023-05-3106289634ns5:PlantMachinery2024-05-3106289634ns5:PlantMachinery2023-05-3106289634ns5:AcceleratedTaxDepreciationDeferredTax2024-05-3106289634ns5:AcceleratedTaxDepreciationDeferredTax2023-05-3106289634ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3106289634ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-31062896341ns10:Director12023-05-31062896341ns10:Director12022-05-31062896341ns10:Director12023-06-012024-05-31062896341ns10:Director12022-06-012023-05-31062896341ns10:Director12024-05-31062896341ns10:Director12023-05-3106289634ns10:Director222023-05-3106289634ns10:Director222022-05-3106289634ns10:Director222023-06-012024-05-3106289634ns10:Director222022-06-012023-05-3106289634ns10:Director222024-05-3106289634ns10:Director222023-05-31
REGISTERED NUMBER: 06289634 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SOUTHFIELD GARAGE (DEVON) LTD

SOUTHFIELD GARAGE (DEVON) LTD (REGISTERED NUMBER: 06289634)

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


SOUTHFIELD GARAGE (DEVON) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr J W Blackler
Mrs J M Blackler



REGISTERED OFFICE: Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



REGISTERED NUMBER: 06289634 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Santander
PO Box 382
Prescot Street
London
E1 8RP

SOUTHFIELD GARAGE (DEVON) LTD (REGISTERED NUMBER: 06289634)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,822 4,474
8,822 4,474

CURRENT ASSETS
Stocks 6 1,000 500
Debtors 7 3,440 3,186
Cash at bank 7,416 23,687
11,856 27,373
CREDITORS
Amounts falling due within one year 8 13,716 16,947
NET CURRENT (LIABILITIES)/ASSETS (1,860 ) 10,426
TOTAL ASSETS LESS CURRENT LIABILITIES 6,962 14,900

PROVISIONS FOR LIABILITIES 693 -
NET ASSETS 6,269 14,900

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 6,267 14,898
SHAREHOLDERS' FUNDS 6,269 14,900

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 directors acknowledge their 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.

SOUTHFIELD GARAGE (DEVON) LTD (REGISTERED NUMBER: 06289634)

BALANCE SHEET - continued
31 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 Board of Directors and authorised for issue on 31 December 2024 and were signed on its behalf by:





Mr J W Blackler - Director


SOUTHFIELD GARAGE (DEVON) LTD (REGISTERED NUMBER: 06289634)

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


1. STATUTORY INFORMATION

Southfield Garage (Devon) Ltd 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.

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 five 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% 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.

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.

SOUTHFIELD GARAGE (DEVON) LTD (REGISTERED NUMBER: 06289634)

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


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 9,000
AMORTISATION
At 1 June 2023
and 31 May 2024 9,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 June 2023 30,646
Additions 9,000
Disposals (3,058 )
At 31 May 2024 36,588
DEPRECIATION
At 1 June 2023 26,172
Charge for year 2,206
Eliminated on disposal (612 )
At 31 May 2024 27,766
NET BOOK VALUE
At 31 May 2024 8,822
At 31 May 2023 4,474

6. STOCKS
2024 2023
£    £   
Stocks 1,000 500

SOUTHFIELD GARAGE (DEVON) LTD (REGISTERED NUMBER: 06289634)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 530 886
Directors' current accounts 1,072 -
Deferred tax asset
Accelerated capital allowances - 133
Prepayments 1,838 2,167
3,440 3,186

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,079 4,225
Tax 5,711 2,573
VAT 3,019 1,174
Directors' current accounts 277 7,450
Accrued expenses 1,630 1,525
13,716 16,947

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr J W Blackler
Balance outstanding at start of year (7,216 ) (7,968 )
Amounts advanced 27,952 22,937
Amounts repaid (19,664 ) (22,185 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,072 (7,216 )

Mrs J M Blackler
Balance outstanding at start of year (235 ) (448 )
Amounts advanced 20,000 20,000
Amounts repaid (20,041 ) (19,787 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (276 ) (235 )

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £36,500 (2023 - £24,000) were paid to the directors .