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Company No: 08085447 (England and Wales)

JANE'S JUBILEE GARAGE LTD

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

JANE'S JUBILEE GARAGE LTD

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

JANE'S JUBILEE GARAGE LTD

BALANCE SHEET

As at 31 October 2024
JANE'S JUBILEE GARAGE LTD

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 4,046 5,057
4,046 5,057
Current assets
Stocks 4 9,500 14,000
Debtors 5 8,578 28,699
Cash at bank and in hand 6 57,149 49,436
75,227 92,135
Creditors: amounts falling due within one year 7 ( 34,478) ( 46,147)
Net current assets 40,749 45,988
Total assets less current liabilities 44,795 51,045
Creditors: amounts falling due after more than one year 8 ( 5,833) ( 15,833)
Provision for liabilities ( 769) ( 961)
Net assets 38,193 34,251
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 38,093 34,151
Total shareholder's funds 38,193 34,251

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Jane's Jubilee Garage Ltd (registered number: 08085447) were approved and authorised for issue by the Board of Directors on 17 February 2025. They were signed on its behalf by:

J Hicks
Director
JANE'S JUBILEE GARAGE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
JANE'S JUBILEE GARAGE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jane's Jubilee Garage Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 95,388 95,388
At 31 October 2024 95,388 95,388
Accumulated depreciation
At 01 November 2023 90,331 90,331
Charge for the financial year 1,011 1,011
At 31 October 2024 91,342 91,342
Net book value
At 31 October 2024 4,046 4,046
At 31 October 2023 5,057 5,057

4. Stocks

2024 2023
£ £
Stocks 9,500 14,000

5. Debtors

2024 2023
£ £
Trade debtors 1,843 22,486
Other debtors 6,735 6,213
8,578 28,699

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 57,149 49,436

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 12,636 20,899
Taxation and social security 10,468 14,142
Other creditors 1,374 1,106
34,478 46,147

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 5,833 15,833

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 ordinary shares of £ 1.00 each 100 100