Harbour Garages (Bridport) Limited 01080726 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property rental. Digita Accounts Production Advanced 6.30.9574.0 true true 01080726 2023-04-01 2024-03-31 01080726 2024-03-31 01080726 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-03-31 01080726 core:RetainedEarningsAccumulatedLosses 2024-03-31 01080726 core:RevaluationReserve 2024-03-31 01080726 core:ShareCapital 2024-03-31 01080726 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 01080726 core:FurnitureFittingsToolsEquipment 2024-03-31 01080726 bus:SmallEntities 2023-04-01 2024-03-31 01080726 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01080726 bus:FilletedAccounts 2023-04-01 2024-03-31 01080726 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01080726 bus:RegisteredOffice 2023-04-01 2024-03-31 01080726 bus:Director1 2023-04-01 2024-03-31 01080726 bus:Director2 2023-04-01 2024-03-31 01080726 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-01 2024-03-31 01080726 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01080726 core:RevaluationReserve core:LandBuildings 2023-04-01 2024-03-31 01080726 core:FurnitureFittings 2023-04-01 2024-03-31 01080726 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 01080726 core:LandBuildings 2023-04-01 2024-03-31 01080726 countries:AllCountries 2023-04-01 2024-03-31 01080726 2023-03-31 01080726 core:FurnitureFittingsToolsEquipment 2023-03-31 01080726 2022-04-01 2023-03-31 01080726 2023-03-31 01080726 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-31 01080726 core:RetainedEarningsAccumulatedLosses 2023-03-31 01080726 core:RevaluationReserve 2023-03-31 01080726 core:ShareCapital 2023-03-31 01080726 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 01080726 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01080726

Harbour Garages (Bridport) Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Harbour Garages (Bridport) Limited

Contents

Company Information

1

Statement of Comprehensive Income

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Harbour Garages (Bridport) Limited

Company Information

Directors

Mrs SD Walsh

Mr B Walsh

Registered office

6 Seaward Gardens
Bridport
Dorset
DT6 4EJ

Accountants

Scott Vevers Ltd
Chartered Accountants
and Registered Auditors
65 East Street
Bridport
Dorset
DT6 3LB

 

Harbour Garages (Bridport) Limited

Statement of Comprehensive Income for the Year Ended 31 March 2024

2024
£

2023
£

Profit for the year

4,660

2,627

Surplus on property, plant and equipment revaluation

25,000

-

Total comprehensive income for the year

29,660

2,627

 

Harbour Garages (Bridport) Limited

(Registration number: 01080726)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

162

Investment property

320,000

295,000

 

320,000

295,162

Current assets

 

Cash at bank and in hand

 

44

401

Prepayments and accrued income

 

-

180

Creditors: Amounts falling due within one year

(2,121)

(6,700)

Net current liabilities

 

(2,077)

(6,119)

Total assets less current liabilities

 

317,923

289,043

Accruals and deferred income

 

(354)

(1,134)

Net assets

 

317,569

287,909

Capital and reserves

 

Called up share capital

6

40,000

40,000

Revaluation reserve

49,873

24,873

Retained earnings

227,696

223,036

Shareholders' funds

 

317,569

287,909

For the financial year ending 31 March 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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.

 

Harbour Garages (Bridport) Limited

(Registration number: 01080726)
Abridged Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 17 February 2025 and signed on its behalf by:
 

.........................................

Mrs SD Walsh

Director

.........................................

Mr B Walsh

Director

 

Harbour Garages (Bridport) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.

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 abridged financial statements were prepared in accordance with Section 1A of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged 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.

Going concern

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

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 sales/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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

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

Fixtures, fittings and equipment

25% on cost

 

Harbour Garages (Bridport) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Harbour Garages (Bridport) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

39,361

39,361

At 31 March 2024

39,361

39,361

Depreciation

At 1 April 2023

39,199

39,199

Charge for the year

162

162

At 31 March 2024

39,361

39,361

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

162

162

Investment properties

2024
£

At 1 April

295,000

Fair value adjustments

25,000

At 31 March

320,000

The property was valued by Kennedys Estate Agents in May 2023 as a realistic figure and obtainable within a short marketing period to a proceedable buyer.

 

Harbour Garages (Bridport) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

5

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

25,000

25,000

Investments
2024
£

Total amount of revalued assets

320,000

Amount of revaluation brought forward

(24,101)

Amount of revaluation for the year

(25,000)

Total carrying amount of assets had they not been revalued

270,899

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

40,000

40,000

40,000

40,000