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Registration number: 08897057

SRG Garages Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

SRG Garages Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

SRG Garages Limited

Company Information

Directors

Mr P Lawrence

Mr P Roberts

Registered office

Scotia House
Scotia Road
Burslem
Stoke-On-Trent
Staffordshire
ST6 4EZ

Accountants

Alextra Group Limited
Chartered Certified Accountants
7-9 Macon Court
Crewe
Cheshire
CW1 6EA

 

SRG Garages Limited

(Registration number: 08897057)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

89,860

64,773

Current assets

 

Stocks

5

5,800

5,800

Debtors

6

43,888

73,831

Cash at bank and in hand

 

62,652

95,159

 

112,340

174,790

Creditors: Amounts falling due within one year

7

(102,482)

(121,045)

Net current assets

 

9,858

53,745

Total assets less current liabilities

 

99,718

118,518

Creditors: Amounts falling due after more than one year

7

(59,360)

(33,334)

Net assets

 

40,358

85,184

Capital and reserves

 

Called up share capital

200

200

Retained earnings

40,158

84,984

Shareholders' funds

 

40,358

85,184

For the financial year ending 29 February 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.

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 and the option not to file the Profit and Loss Account or Directors Report has been taken.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

 

SRG Garages Limited

(Registration number: 08897057)
Balance Sheet as at 29 February 2024

.........................................
Mr P Lawrence
Director

.........................................
Mr P Roberts
Director

 

SRG Garages Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
Scotia House
Scotia Road
Burslem
Stoke-On-Trent
Staffordshire
ST6 4EZ

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current 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.

 

SRG Garages Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% on written down value

Motor vehicles

25% on written down value

Leasehold Improvements

10% on written down value

3

Staff numbers

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

 

SRG Garages Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Leasehold Improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and Machinery
£

Total
£

Cost or valuation

At 1 March 2023

30,833

725

800

100,483

132,841

Additions

-

11,352

1,000

32,750

45,102

At 29 February 2024

30,833

12,077

1,800

133,233

177,943

Depreciation

At 1 March 2023

10,602

145

590

56,731

68,068

Charge for the year

2,023

2,386

302

15,304

20,015

At 29 February 2024

12,625

2,531

892

72,035

88,083

Carrying amount

At 29 February 2024

18,208

9,546

908

61,198

89,860

At 28 February 2023

20,231

580

210

43,752

64,773

 

SRG Garages Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Stocks

2024
£

2023
£

Other inventories

5,800

5,800

 

SRG Garages Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Debtors

Current

2024
£

2023
£

Prepayments

5,256

-

Other debtors

38,632

73,831

7

Creditors

Creditors: amounts falling due within one year

Note

2024
 £

2023
 £

Due within one year

 

Trade creditors

 

23,503

7,037

Social security and other taxes

 

9,032

9,981

Other creditors

 

380

-

Accrued expenses

 

43,962

36,376

Corporation tax

25,605

67,651

 

102,482

121,045

Due after one year

 

Loans and borrowings

59,360

33,334

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

59,360

33,334