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Registered number: 04969534
Chesterfield Garage Equipment Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04969534
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 21,941 1,797
21,941 1,797
CURRENT ASSETS
Stocks 6 4,000 4,250
Debtors 7 19,927 21,339
Cash at bank and in hand 13,056 17,854
36,983 43,443
Creditors: Amounts Falling Due Within One Year 8 (20,327 ) (21,349 )
NET CURRENT ASSETS (LIABILITIES) 16,656 22,094
TOTAL ASSETS LESS CURRENT LIABILITIES 38,597 23,891
Creditors: Amounts Falling Due After More Than One Year 9 (10,175 ) -
NET ASSETS 28,422 23,891
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 28,322 23,791
SHAREHOLDERS' FUNDS 28,422 23,891
Page 1
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A Holleworth
Director
2nd March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Chesterfield Garage Equipment Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04969534 . The registered office is Unit 74 Storforth Lane Trading Estate, Hasland, Chesterfield, S41 0QZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It has been amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 30,000
As at 30 November 2024 30,000
Amortisation
As at 1 December 2023 30,000
As at 30 November 2024 30,000
Net Book Value
As at 30 November 2024 -
As at 1 December 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 December 2023 17,794 4,800 1,598 24,192
Additions - 21,995 - 21,995
As at 30 November 2024 17,794 26,795 1,598 46,187
Depreciation
As at 1 December 2023 17,728 3,281 1,386 22,395
Provided during the period 17 1,781 53 1,851
As at 30 November 2024 17,745 5,062 1,439 24,246
Net Book Value
As at 30 November 2024 49 21,733 159 21,941
As at 1 December 2023 66 1,519 212 1,797
6. Stocks
2024 2023
£ £
Stock 4,000 4,250
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,474 20,886
Other debtors 453 453
19,927 21,339
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,039 -
Trade creditors 6,026 9,618
Corporation tax 2,614 6,121
Taxation and social security 3,960 3,440
Other creditors 2,688 2,170
20,327 21,349
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,175 -
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,039 -
Later than one year and not later than five years 10,175 -
15,214 -
15,214 -
11. Ultimate Controlling Party
The company's ultimate controlling party is the directors.
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