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REGISTERED NUMBER: 06212473















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

CHERRY WILLINGHAM GARAGE LTD

CHERRY WILLINGHAM GARAGE LTD (REGISTERED NUMBER: 06212473)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CHERRY WILLINGHAM GARAGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: A D Shuck





REGISTERED OFFICE: Laburnum Drive
Cherry Willingham
Lincoln
Lincolnshire
LN3 4AS





REGISTERED NUMBER: 06212473





ACCOUNTANTS: Dexter & Sharpe (Lincoln) Ltd
Landmark House
1 Riseholme Road
Lincoln
Lincolnshire
LN1 3SN

CHERRY WILLINGHAM GARAGE LTD (REGISTERED NUMBER: 06212473)

ABRIDGED BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 22,500 30,000
Tangible assets 4 32,038 39,555
54,538 69,555

CURRENT ASSETS
Stocks 93,063 111,309
Debtors 64,005 38,773
Cash at bank and in hand 162,364 123,238
319,432 273,320
CREDITORS
Amounts falling due within one year 102,420 78,483
NET CURRENT ASSETS 217,012 194,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

271,550

264,392

CREDITORS
Amounts falling due after more than one year (16,413 ) (26,612 )

PROVISIONS FOR LIABILITIES (7,134 ) (6,728 )
NET ASSETS 248,003 231,052

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 248,001 231,050
SHAREHOLDERS' FUNDS 248,003 231,052

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CHERRY WILLINGHAM GARAGE LTD (REGISTERED NUMBER: 06212473)

ABRIDGED BALANCE SHEET - continued
30 APRIL 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 director and authorised for issue on 17 December 2024 and were signed by:





A D Shuck - Director


CHERRY WILLINGHAM GARAGE LTD (REGISTERED NUMBER: 06212473)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 8 ) .

CHERRY WILLINGHAM GARAGE LTD (REGISTERED NUMBER: 06212473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 150,000
AMORTISATION
At 1 May 2023 120,000
Amortisation for year 7,500
At 30 April 2024 127,500
NET BOOK VALUE

At 30 April 2024 22,500
At 30 April 2023 30,000

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 159,143
Additions 2,042
At 30 April 2024 161,185
DEPRECIATION
At 1 May 2023 119,588
Charge for year 9,559
At 30 April 2024 129,147
NET BOOK VALUE
At 30 April 2024 32,038
At 30 April 2023 39,555

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
A D Shuck
Balance outstanding at start of year 34,748 48,449
Amounts advanced 150,352 78,399
Amounts repaid (129,100 ) (92,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 56,000 34,748

Directors loan account was repaid within 9 months of the year-end.