PTP Accounts Production v24.3.2.46 01960547 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh019605472023-06-30019605472024-06-30019605472023-07-012024-06-30019605472022-06-30019605472022-07-012023-06-30019605472023-06-3001960547ns15:EnglandWales2023-07-012024-06-3001960547ns14:PoundSterling2023-07-012024-06-3001960547ns10:Director12023-07-012024-06-3001960547ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3001960547ns10:SmallEntities2023-07-012024-06-3001960547ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3001960547ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3001960547ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3001960547ns10:FullAccounts2023-07-012024-06-3001960547ns10:Director22023-07-012024-06-3001960547ns10:RegisteredOffice2023-07-012024-06-3001960547ns5:CurrentFinancialInstruments2024-06-3001960547ns5:CurrentFinancialInstruments2023-06-3001960547ns5:Non-currentFinancialInstruments2024-06-3001960547ns5:Non-currentFinancialInstruments2023-06-3001960547ns5:ShareCapital2024-06-3001960547ns5:ShareCapital2023-06-3001960547ns5:RetainedEarningsAccumulatedLosses2024-06-3001960547ns5:RetainedEarningsAccumulatedLosses2023-06-3001960547ns5:LandBuildings2023-07-012024-06-3001960547ns5:PlantMachinery2023-07-012024-06-3001960547ns5:LandBuildings2023-06-3001960547ns5:PlantMachinery2023-06-3001960547ns5:LandBuildings2024-06-3001960547ns5:PlantMachinery2024-06-3001960547ns5:LandBuildings2023-06-3001960547ns5:PlantMachinery2023-06-3001960547ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3001960547ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30
REGISTERED NUMBER: 01960547 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 June 2024

for

West's Garage (Newmarket) Limited

West's Garage (Newmarket) Limited (Registered number: 01960547)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


West's Garage (Newmarket) Limited

Company Information
For The Year Ended 30 June 2024







Directors: Mrs A D West
R J H West





Registered office: 11 Church Street
Exning
Newmarket
Suffolk
CB8 7EH





Registered number: 01960547 (England and Wales)





Accountants: SMD Accounts LLP
Chartered Certified Accountants
The Vineyards
Knox Lane, Bardwell
Bury St Edmunds
Suffolk
IP31 1AX

West's Garage (Newmarket) Limited (Registered number: 01960547)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 240,113 250,961

Current assets
Stocks 25,938 25,938
Debtors 5 838,171 1,003,039
Cash at bank and in hand 9,166 9,909
873,275 1,038,886
Creditors
Amounts falling due within one year 6 1,250,494 1,415,822
Net current liabilities (377,219 ) (376,936 )
Total assets less current liabilities (137,106 ) (125,975 )

Creditors
Amounts falling due after more than one year 7 12,141 21,819
Net liabilities (149,247 ) (147,794 )

Capital and reserves
Called up share capital 100 100
Retained earnings (149,347 ) (147,894 )
(149,247 ) (147,794 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:



R J H West - Director


West's Garage (Newmarket) Limited (Registered number: 01960547)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. Statutory information

West's Garage (Newmarket) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 16.67% per annum of net book value and 10% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The financial statements for the year ended 30 June 2024 shows the company as having net liabilities. The directors have confirmed they will continue to provide financial support to the company to enable it to meet its financial obligations for the forseeable future and on this basis these financial statements have been prepared on a going concern basis.

3. Employees and directors

The average number of employees during the year was 5 (2023 - 5 ) .

West's Garage (Newmarket) Limited (Registered number: 01960547)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 July 2023 334,327 57,561 391,888
Disposals - (15,000 ) (15,000 )
At 30 June 2024 334,327 42,561 376,888
Depreciation
At 1 July 2023 84,185 56,742 140,927
Charge for year 10,030 818 10,848
Eliminated on disposal - (15,000 ) (15,000 )
At 30 June 2024 94,215 42,560 136,775
Net book value
At 30 June 2024 240,112 1 240,113
At 30 June 2023 250,142 819 250,961

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 283 1,123
Amounts owed by group undertakings 831,370 994,779
Other debtors 6,518 7,137
838,171 1,003,039

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 20,696 11,863
Amounts owed to group undertakings 1,206,908 1,816
Taxation and social security 10,508 7,528
Other creditors 2,382 1,384,615
1,250,494 1,415,822

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 12,141 21,819