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REGISTERED NUMBER: 02095240 (England and Wales)















Ring Road Garage Limited

Unaudited Financial Statements for the Year Ended 31 July 2024






Ring Road Garage Limited (Registered number: 02095240)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


Ring Road Garage Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: N L Chalmers
S Chalmers





REGISTERED OFFICE: Ring Road Garage
Gawcott Road
Buckingham
Buckinghamshire
MK18 1DR





REGISTERED NUMBER: 02095240 (England and Wales)





ACCOUNTANTS: Tearle & Carver Limited
Chandos House
School Lane
Buckingham
Buckinghamshire
MK18 1HD

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ring Road Garage Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ring Road Garage Limited for the year ended 31 July 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ring Road Garage Limited, as a body, in accordance with the terms of our engagement letter dated 22 January 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Ring Road Garage Limited and state those matters that we have agreed to state to the Board of Directors of Ring Road Garage Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ring Road Garage Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ring Road Garage Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ring Road Garage Limited. You consider that Ring Road Garage Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ring Road Garage Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tearle & Carver Limited
Chandos House
School Lane
Buckingham
Buckinghamshire
MK18 1HD


21 January 2025

Ring Road Garage Limited (Registered number: 02095240)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,498,685 1,353,720

CURRENT ASSETS
Stocks 62,050 62,050
Debtors 5 338,994 265,374
Cash at bank and in hand 278,875 305,055
679,919 632,479
CREDITORS
Amounts falling due within one year 6 575,065 548,039
NET CURRENT ASSETS 104,854 84,440
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,603,539

1,438,160

CREDITORS
Amounts falling due after more than one
year

7

(41,544

)

(58,636

)

PROVISIONS FOR LIABILITIES (210,186 ) (173,945 )
NET ASSETS 1,351,809 1,205,579

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 1,351,609 1,205,379
1,351,809 1,205,579

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

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

Ring Road Garage Limited (Registered number: 02095240)

Balance Sheet - continued
31 July 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 21 January 2025 and were signed on its behalf by:





S Chalmers - Director


Ring Road Garage Limited (Registered number: 02095240)

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

1. STATUTORY INFORMATION

Ring Road Garage 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 33% on cost
Motor vehicles - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Ring Road Garage Limited (Registered number: 02095240)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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 16 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 August 2023 1,164,537 1,194,318 921,906 3,280,761
Additions - 223,634 187,514 411,148
Disposals - (5,050 ) (2,800 ) (7,850 )
At 31 July 2024 1,164,537 1,412,902 1,106,620 3,684,059
DEPRECIATION
At 1 August 2023 287,086 1,049,417 590,538 1,927,041
Charge for year 23,290 114,360 125,288 262,938
Eliminated on disposal - (1,805 ) (2,800 ) (4,605 )
At 31 July 2024 310,376 1,161,972 713,026 2,185,374
NET BOOK VALUE
At 31 July 2024 854,161 250,930 393,594 1,498,685
At 31 July 2023 877,451 144,901 331,368 1,353,720

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 288,227 219,486
Prepayments and accrued income 50,767 45,888
338,994 265,374

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 36,062 34,248
Trade creditors 210,557 192,802
Corporation tax 105,811 98,431
Social security and other taxes 15,726 18,922
VAT 196,346 195,258
Other creditors 5,554 1,639
Directors' current accounts 9 1,739
Accruals and deferred income 5,000 5,000
575,065 548,039

Ring Road Garage Limited (Registered number: 02095240)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 41,544 58,636

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £ £
120 Ordinary A £1 120 120
40 Ordinary B £1 40 40
40 Ordinary C £1 40 40
200 200

9. RELATED PARTY DISCLOSURES

At the year end the balance due to the directors was £9 (2023: £1,739).

10. ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the directors and their family by virtue of their 100% shareholding.