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Youngs Service & Repair Centre Limited

Registered Number
02779067
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

Youngs Service & Repair Centre Limited
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

Mrs N J Young
Mr W J Young

Company Secretary

Mr W J Young

Registered Address

Gravel Hill
Amersham Road
Chalfont St Peter
SL9 9QN

Registered Number

02779067 (England and Wales)
Youngs Service & Repair Centre Limited
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3231,813185,082
Investments41,0001,000
232,813186,082
Current assets
Debtors208,6769,302
Current asset investments56,3006,300
Cash at bank and on hand312,585481,101
527,561496,703
Creditors amounts falling due within one year6(164,891)(130,549)
Net current assets (liabilities)362,670366,154
Total assets less current liabilities595,483552,236
Net assets595,483552,236
Capital and reserves
Called up share capital21,00021,000
Profit and loss account574,483531,236
Shareholders' funds595,483552,236
The financial statements were approved and authorised for issue by the Board of Directors on 22 January 2025, and are signed on its behalf by:
Mr W J Young
Director
Registered Company No. 02779067
Youngs Service & Repair Centre Limited
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Vehicles20
Office Equipment20
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year1010
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 May 2371,268160,274147,12638,760417,428
Additions-1,86885,000-86,868
At 30 April 2471,268162,142232,12638,760504,296
Depreciation and impairment
At 01 May 23-122,67276,14133,533232,346
Charge for year-7,89431,1971,04640,137
At 30 April 24-130,566107,33834,579272,483
Net book value
At 30 April 2471,26831,576124,7884,181231,813
At 30 April 2371,26837,60270,9855,227185,082
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 May 231,0001,000
At 30 April 241,0001,000
Net book value
At 30 April 241,0001,000
At 30 April 231,0001,000

Notes

1Investments in group undertakings and participating interests
5.Current asset investments
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables40,05031,280
Bank borrowings and overdrafts1,167948
Taxation and social security118,50693,843
Other creditors3,4773,222
Accrued liabilities and deferred income1,6911,256
Total164,891130,549
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.