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Registered number: 09295026
Grease Monkeys Mechanics Ltd
Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09295026
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,643 127
2,643 127
CURRENT ASSETS
Debtors 5 - 69
Cash at bank and in hand 4,207 2,395
4,207 2,464
Creditors: Amounts Falling Due Within One Year 6 (15,397 ) (8,261 )
NET CURRENT ASSETS (LIABILITIES) (11,190 ) (5,797 )
TOTAL ASSETS LESS CURRENT LIABILITIES (8,547 ) (5,670 )
NET LIABILITIES (8,547 ) (5,670 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (8,647 ) (5,770 )
SHAREHOLDERS' FUNDS (8,547) (5,670)
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Sean Charlesworth-Kemish
Director
29/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Grease Monkeys Mechanics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09295026 . The registered office is Wellington House, 273-275 High Street, London Colney, St Albans, Hertfordshire, AL2 1HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
At the balance sheet date the companies liabilities exceeded it's assets and it's ability to trade is dependent on the
financial support of the current directors and shareholders. Such financial support will continue to be made and these
accounts have been prepared on the basis that the company will continue to trade normally.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 December 2022 300 - 300
Additions 1,380 2,017 3,397
As at 30 November 2023 1,680 2,017 3,697
Depreciation
As at 1 December 2022 173 - 173
Provided during the period 377 504 881
As at 30 November 2023 550 504 1,054
Net Book Value
As at 30 November 2023 1,130 1,513 2,643
As at 1 December 2022 127 - 127
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5. Debtors
2023 2022
£ £
Due within one year
Other debtors - 69
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 127 31
Other creditors 15,270 8,230
15,397 8,261
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Sean Charlesworth-Kemish (7,030 ) 16,517 (22,831 ) - (13,344 )
The above loan is unsecured, interest free and repayable on demand.
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