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Registered Number: 07192822
England and Wales

 

 

 

MAIDENWELLS GARAGE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Maidenwells Garage Ltd for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Maidenwells Garage Ltd for the year ended 30 April 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Maidenwells Garage Ltd , as a body, in accordance with the terms of our engagement letter dated 29 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Maidenwells Garage Ltd and state those matters that we have agreed to state to the Board of Directors of Maidenwells Garage Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Maidenwells Garage Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Maidenwells Garage Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Maidenwells Garage Ltd . You consider that Maidenwells Garage Ltd 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 accounts of Maidenwells Garage Ltd . 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 accounts
30 April 2024



....................................................
Lucy Jo Hughes
LJ Accountancy Services Ltd

Penffynnon
Hawthorn Rise
Haverfordwest
SA61 2AX
29 September 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 2,000   
2,000   
Current assets      
Stocks 2,600    2,600 
Debtors 19,932    12,298 
Cash at bank and in hand 26,090    21,112 
48,622    36,010 
Creditors: amount falling due within one year (38,146)   (25,135)
Net current assets 10,476    10,875 
 
Total assets less current liabilities 12,476    10,875 
Creditors: amount falling due after more than one year (10,951)   (22,618)
Net assets 1,525    (11,743)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 1,425    (11,843)
Shareholders' funds 1,525    (11,743)
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 29 September 2024 and were signed by:


-------------------------------
Anthony Robert Preece
Director
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General Information
Maidenwells Garage Ltd is a private company, limited by shares, registered in England and Wales, registration number 07192822, registration address The Fields, Maidenwells, Pembrokeshire, Pembrokeshire, SA71 5ES.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 5 years Straight Line
Computer Equipment 4 years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 May 2023 47,780    1,100    1,774    50,654 
Additions 2,500        2,500 
Disposals      
At 30 April 2024 50,280    1,100    1,774    53,154 
Depreciation
At 01 May 2023 47,780    1,100    1,774    50,654 
Charge for year 500        500 
On disposals      
At 30 April 2024 48,280    1,100    1,774    51,154 
Net book values
Closing balance as at 30 April 2024 2,000        2,000 
Opening balance as at 01 May 2023      


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