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Registration number: 00756634

Westbury Garage (Salop) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Westbury Garage (Salop) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Westbury Garage (Salop) Limited

Company Information

Directors

Mr J H Edwards

Mrs C S Edwards

Mr A M Edwards

Mr J Edwards

Mr J P Edwards

Registered office

Featherbed Lane
Shrewsbury
Shropshire
SY1 4NU

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Westbury Garage (Salop) Limited

(Registration number: 00756634)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,150,000

1,150,000

Investments

5

200,000

200,012

 

1,350,000

1,350,012

Current assets

 

Debtors

6

10,665

31,163

Cash at bank and in hand

 

11,444

17,075

 

22,109

48,238

Creditors: Amounts falling due within one year

7

(53,430)

(55,059)

Net current liabilities

 

(31,321)

(6,821)

Total assets less current liabilities

 

1,318,679

1,343,191

Creditors: Amounts falling due after more than one year

7

(148,382)

(173,621)

Net assets

 

1,170,297

1,169,570

Capital and reserves

 

Called up share capital

8

1,602

1,602

Other reserves

325,858

325,858

Retained earnings

842,837

842,110

Shareholders' funds

 

1,170,297

1,169,570

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Westbury Garage (Salop) Limited

(Registration number: 00756634)
Balance Sheet as at 30 April 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 January 2025 and signed on its behalf by:
 


Mr A M Edwards
Director

 

Westbury Garage (Salop) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Featherbed Lane
Shrewsbury
Shropshire
SY1 4NU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The entity and its subsidiary comprise a small group and are therefore not required to prepare consolidated accounts.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

No depreciation has been provided in respect of buildings in the current year on the basis that the company obtains periodic valuations of the property from independent valuers. The directors also review the property annually to ensure that the valuation in the accounts reflects the market value and that the residual value of the property is at least equal to the current market value as shown in the accounts.

 

Westbury Garage (Salop) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

4

Investment properties

2024
£

At 1 May

1,150,000

At 30 April

1,150,000


The investment property has been valued by the directors on an open market basis by reference to market evidence of transaction prices for similar properties and a third party valuation received during the period.

 

Westbury Garage (Salop) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

200,000

200,012

Subsidiaries

£

Cost or valuation

At 1 May 2023

200,012

Disposals

(12)

At 30 April 2024

200,000

Carrying amount

At 30 April 2024

200,000

At 30 April 2023

200,012

This represents 100% investment in Westbury Garage (Telford) Limited, a company incorporated in England & Wales.

6

Debtors

Current

2024
£

2023
£

Trade debtors

9,243

5,663

Other debtors

1,422

25,500

 

10,665

31,163

 

Westbury Garage (Salop) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

612

-

Taxation and social security

38,358

38,729

Accruals and deferred income

14,460

16,318

Other creditors

-

12

53,430

55,059

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Amounts due from group undertakings

148,382

173,621

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

130

130

130

130

Ordinary B of £1 each

411

411

411

411

Ordinary C of £1 each

348

348

348

348

Ordinary D of £1 each

125

125

125

125

Ordinary E of £1 each

38

38

38

38

Ordinary F of £1 each

450

450

450

450

Ordinary G of £1 each

100

100

100

100

1,602

1,602

1,602

1,602