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REGISTERED NUMBER: 13577721 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 May 2024

for

Castle Vehicle Servicing Limited

Castle Vehicle Servicing Limited (Registered number: 13577721)

Contents of the Financial Statements
For The Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Castle Vehicle Servicing Limited

Company Information
For The Year Ended 31 May 2024







DIRECTORS: Mr D A Browne
Mr B P Lennon
Mr L A Mayne
Mr J M B Strowbridge
Mrs R M Lennon





REGISTERED OFFICE: Units 1 & 2 Heathfield Way
Kings Heath Industrial Estate
Northampton
NORTHAMPTONSHIRE
NN5 7QP





REGISTERED NUMBER: 13577721 (England and Wales)





ACCOUNTANTS: Harris & Clarke LLP
7 Billing Road
Northampton
NORTHAMPTONSHIRE
NN1 5AN

Castle Vehicle Servicing Limited (Registered number: 13577721)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,877 3,827
Tangible assets 5 125,629 160,987
127,506 164,814

CURRENT ASSETS
Stocks 7,407 1,463
Debtors 6 106,161 83,080
Cash at bank and in hand 96,839 49,709
210,407 134,252
CREDITORS
Amounts falling due within one year 7 288,842 263,790
NET CURRENT LIABILITIES (78,435 ) (129,538 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,071

35,276

CREDITORS
Amounts falling due after more than one year 8 (67,487 ) (102,655 )

PROVISIONS FOR LIABILITIES (29,421 ) (16,261 )
NET LIABILITIES (47,837 ) (83,640 )

Castle Vehicle Servicing Limited (Registered number: 13577721)

Balance Sheet - continued
31 May 2024

2024 2023
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings (47,842 ) (83,645 )
(47,837 ) (83,640 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:




Mr L A Mayne - Director



Mrs R M Lennon - Director


Castle Vehicle Servicing Limited (Registered number: 13577721)

Notes to the Financial Statements
For The Year Ended 31 May 2024


1. STATUTORY INFORMATION

Castle Vehicle Servicing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

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

At the balance sheet date the company has net liabilities of £83,640 however £151,197 is due to the parent company, who have confirmed their willingness not to call in this debt and to meet the day to day working capital requirements of the company.

The directors believe that the company remains a going concern due to the continued support of the parent company and that this will be sufficient to meet any shortfall from operational activities. The financial statements have therefore been prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Brand design costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and Over the length of time of the lease

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Castle Vehicle Servicing Limited (Registered number: 13577721)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company contributes to employees defined contribution pension schemes. Contributions payable to these schemes are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 5,910
AMORTISATION
At 1 June 2023 2,083
Charge for year 1,950
At 31 May 2024 4,033
NET BOOK VALUE
At 31 May 2024 1,877
At 31 May 2023 3,827

Castle Vehicle Servicing Limited (Registered number: 13577721)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024


5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Office
property machinery equipment Totals
£    £    £    £   
COST
At 1 June 2023 23,662 183,625 12,634 219,921
Additions - - 4,728 4,728
At 31 May 2024 23,662 183,625 17,362 224,649
DEPRECIATION
At 1 June 2023 4,864 50,920 3,150 58,934
Charge for year 4,108 33,176 2,802 40,086
At 31 May 2024 8,972 84,096 5,952 99,020
NET BOOK VALUE
At 31 May 2024 14,690 99,529 11,410 125,629
At 31 May 2023 18,798 132,705 9,484 160,987

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 9,800 162,555 172,355
DEPRECIATION
At 1 June 2023 2,603 45,190 47,793
Charge for year 1,799 29,341 31,140
At 31 May 2024 4,402 74,531 78,933
NET BOOK VALUE
At 31 May 2024 5,398 88,024 93,422
At 31 May 2023 7,197 117,365 124,562

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 90,996 75,133
Other debtors 15,165 7,947
106,161 83,080

Castle Vehicle Servicing Limited (Registered number: 13577721)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 35,091 35,091
Trade creditors 71,576 49,957
Amounts owed to group undertakings 128,611 151,197
Taxation and social security 48,254 20,479
Other creditors 5,310 7,066
288,842 263,790

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 67,487 102,655

9. RELATED PARTY DISCLOSURES

The company is a subsidiary of Castle Coachworks (Northampton) Limited.

There is no ultimate controlling party