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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

KIMBERLEY GARAGE LIMITED

KIMBERLEY GARAGE LIMITED (REGISTERED NUMBER: 04536703)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KIMBERLEY GARAGE LIMITED

COMPANY INFORMATION
For The Year Ended 31 October 2024







DIRECTOR: Mr J D Ross





REGISTERED OFFICE: Unit 1, St Stephens Court
15 - 17 St Stephens Road
Bournemouth
Dorset
BH2 6LA





REGISTERED NUMBER: 04536703 (England and Wales)






KIMBERLEY GARAGE LIMITED (REGISTERED NUMBER: 04536703)

BALANCE SHEET
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,051 2,101
Tangible assets 5 9,926 11,491
10,977 13,592

CURRENT ASSETS
Stocks 2,712 3,970
Debtors 6 14,026 19,403
Cash at bank and in hand 36,988 47,999
53,726 71,372
CREDITORS
Amounts falling due within one year 7 31,133 35,555
NET CURRENT ASSETS 22,593 35,817
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,570

49,409

PROVISIONS FOR LIABILITIES 1,060 1,240
NET ASSETS 32,510 48,169

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 32,410 48,069
SHAREHOLDERS' FUNDS 32,510 48,169

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

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

The director acknowledges his 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 director and authorised for issue on 28 February 2025 and were signed by:





Mr J D Ross - Director


KIMBERLEY GARAGE LIMITED (REGISTERED NUMBER: 04536703)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 October 2024

1. STATUTORY INFORMATION

Kimberley Garage 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.

Revenue recognition
Income is recognised as the right to consideration obtained through the performance of contractual obligations, net of VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2002, is being amortised evenly over its estimated useful life.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme 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 6 (2023 - 5 ) .

KIMBERLEY GARAGE LIMITED (REGISTERED NUMBER: 04536703)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 October 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 30,001
AMORTISATION
At 1 November 2023 27,900
Amortisation for year 1,050
At 31 October 2024 28,950
NET BOOK VALUE
At 31 October 2024 1,051
At 31 October 2023 2,101

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 85,591
Additions 433
At 31 October 2024 86,024
DEPRECIATION
At 1 November 2023 74,100
Charge for year 1,998
At 31 October 2024 76,098
NET BOOK VALUE
At 31 October 2024 9,926
At 31 October 2023 11,491

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,260 12,651
Other debtors 3,766 6,752
14,026 19,403

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 16,761 17,501
Taxation and social security 11,527 15,096
Other creditors 2,845 2,958
31,133 35,555

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100