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Registered number: 01395435









SOUTH GODSTONE GARAGE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2024

 
SOUTH GODSTONE GARAGE LIMITED
REGISTERED NUMBER: 01395435

BALANCE SHEET
AS AT 30 APRIL 2024

30 April
31 March
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
-
246,499

  
-
246,499

Current assets
  

Debtors: amounts falling due within one year
 4 
100
9,068

Cash at bank and in hand
 5 
-
107,474

  
100
116,542

Creditors: amounts falling due within one year
 6 
-
(87,312)

Net current assets
  
 
 
100
 
 
29,230

Total assets less current liabilities
  
100
275,729

  

Net assets
  
100
275,729


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
-
275,629

  
100
275,729


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 December 2024.




T A Dowling
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
SOUTH GODSTONE GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

South Godstone Garage Limited is a private company limited by shares and incorporated in England and Wales. The registered office address of the company is 274-8 Wickham Road, Shirley, Croydon, Surrey, CR0 8BJ. The principal activity of the company was that of the rental of investment property, but during the year the property was hived up to its parent company on 10 October 2023, Petrocell Holdings Limited, so the company ceased trading and is now dormant. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Page 2

 
SOUTH GODSTONE GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Capital contributions received from key suppliers to assist with capital expenditure are deducted from the cost.



Depreciation is provided on the following bases:

Freehold property
-
Office equipment
-
10%
Straight line

The company has not provided for depreciation on land and buildings and has therefore not complied with Companies Act 2006 requirements. It is the company's policy to maintain its properties in a sound state of repair and, accordingly, the directors consider that the economic lives of the properties are so long and the residual value at such a level that depreciation would be inappropriate
The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administration expenses' in the statement of comprehensive income.



 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
SOUTH GODSTONE GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Tangible fixed assets







Freehold property
Office equipment
Total

£
£
£





At 1 April 2023
246,499
4,659
251,158


Disposals
(246,499)
(4,659)
(251,158)



At 30 April 2024

-
-
-





At 1 April 2023
-
4,659
4,659


Disposals
-
(4,659)
(4,659)



At 30 April 2024

-
-
-



Net book value



At 30 April 2024
-
-
-



At 31 March 2023
246,499
-
246,499


4.


Debtors

30 April
31 March
2024
2023
£
£


Amounts owed by group undertakings
100
-

Prepayments and accrued income
-
9,068

100
9,068


Page 4

 
SOUTH GODSTONE GARAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

5.


Cash and cash equivalents

30 April
31 March
2024
2023
£
£

Cash at bank and in hand
-
107,474

-
107,474



6.


Creditors: Amounts falling due within one year

30 April
31 March
2024
2023
£
£

Corporation tax
-
22,646

Other taxation and social security
-
667

Accruals and deferred income
-
63,999

-
87,312



7.


Share capital

30 April
31 March
2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



8.


Controlling party

The immediate parent company is Petrocell Holdings Limited, and the ultimate parent company is Tribrosis Limited, a company incorporated in England and Wales. Tribrosis Limited produces financial statements incorporating the results of South Godstone Garages Limited which can be obtained from the Companies House, Crown Way, Cardiff, CF14 3UZ.
The ultimate controlling party is J B Dowling.


9.


Auditors' information

The auditors' report on the financial statements for the period ended 30 April 2024 was unqualified.

The audit report was signed on 9 December 2024 by Ben Bradley (Senior Statutory Auditor) on behalf of Barnes Roffe LLP.

 
Page 5