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REGISTERED NUMBER: 00536766 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st December 2024

for

Cambridge Garage (Farnborough) Limited

Cambridge Garage (Farnborough) Limited (Registered number: 00536766)

Contents of the Financial Statements
for the Year Ended 31st December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cambridge Garage (Farnborough) Limited

Company Information
for the Year Ended 31st December 2024







DIRECTOR: P R Harrison





SECRETARY: P R Harrison





REGISTERED OFFICE: Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT





REGISTERED NUMBER: 00536766 (England and Wales)





ACCOUNTANTS: Whiteleys
Chartered Certified Accountants
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

Cambridge Garage (Farnborough) Limited (Registered number: 00536766)

Balance Sheet
31st December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 400,000 265,941
Investment property 6 810,000 645,000
1,210,000 910,941

CURRENT ASSETS
Stocks 165,634 251,689
Debtors 7 22,329 51,110
Cash at bank 49,756 71,017
237,719 373,816
CREDITORS
Amounts falling due within one year 8 33,928 66,820
NET CURRENT ASSETS 203,791 306,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,413,791

1,217,937

CREDITORS
Amounts falling due after more than one
year

9

(183,309

)

(237,594

)

PROVISIONS FOR LIABILITIES (67,953 ) (10,875 )
NET ASSETS 1,162,529 969,468

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Revaluation reserve 11 156,822 98,632
Fair value reserve 11 310,579 183,169
Retained earnings 693,628 686,167
SHAREHOLDERS' FUNDS 1,162,529 969,468

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

Cambridge Garage (Farnborough) Limited (Registered number: 00536766)

Balance Sheet - continued
31st December 2024


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 12th March 2025 and were signed by:





P R Harrison - Director


Cambridge Garage (Farnborough) Limited (Registered number: 00536766)

Notes to the Financial Statements
for the Year Ended 31st December 2024


1. STATUTORY INFORMATION

Cambridge Garage (Farnborough) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of Freehold land and buildings.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Plant and machinery-15% on cost
Fixtures and fittings-15% on cost
Computer equipment-33% on cost

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Freehold land and buildings held and used in the Company's own activities are stated in the accounts at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not differ from using the fair value at the year end date.

Any revaluation increase or decrease on freehold land and property is credited to the revaluation reserve in reserves.

Depreciation on revalued property is charged to the profit or loss so as to write off their value over their estimated life of 50 years using the straight line method. There is no depreciation on the land element.

Once a revalued property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Cambridge Garage (Farnborough) Limited (Registered number: 00536766)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


3. ACCOUNTING POLICIES - continued

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are initially measured at cost, including transaction costs. Subsequently
investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

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.

Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Cambridge Garage (Farnborough) Limited (Registered number: 00536766)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Cambridge Garage (Farnborough) Limited (Registered number: 00536766)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


5. TANGIBLE FIXED ASSETS
Freehold Fixtures
land and and Office
property fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1st January 2024 300,000 1,971 9,081 311,052
Additions 21,837 - - 21,837
Revaluations 78,163 - - 78,163
At 31st December 2024 400,000 1,971 9,081 411,052
DEPRECIATION
At 1st January 2024 36,000 1,775 7,336 45,111
Charge for year 4,000 196 1,745 5,941
Revaluation adjustments (40,000 ) - - (40,000 )
At 31st December 2024 - 1,971 9,081 11,052
NET BOOK VALUE
At 31st December 2024 400,000 - - 400,000
At 31st December 2023 264,000 196 1,745 265,941

Included in cost or valuation of land and buildings is freehold land of £ 133,333 (2023 - £ 100,000 ) which is not depreciated.

Cost or valuation at 31st December 2024 is represented by:

Freehold Fixtures
land and and Office
property fittings equipment Totals
£    £    £    £   
Valuation in 2024 178,163 - - 178,163
Cost 221,837 1,971 9,081 232,889
400,000 1,971 9,081 411,052

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 221,837 200,000
Aggregate depreciation - 10,000

Value of land in freehold land and buildings 133,333 100,000

Freehold land and buildings were valued on an open market basis on 31st December 2024 by the director, P Harrison .

Cambridge Garage (Farnborough) Limited (Registered number: 00536766)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2024 645,000
Revaluations 165,000
At 31st December 2024 810,000
NET BOOK VALUE
At 31st December 2024 810,000
At 31st December 2023 645,000

Fair value at 31st December 2024 is represented by:
£   
Valuation in 2024 357,191
Cost 452,809
810,000

If Investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 452,809 452,809

Investment property was valued on a rental yield basis on 31st December 2024 by the director, P Harrison .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 22,329 51,110

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,076 6,189
Trade creditors 14,775 24,160
Taxation and social security 7,127 29,901
Other creditors 6,950 6,570
33,928 66,820

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 183,309 237,594

Cambridge Garage (Farnborough) Limited (Registered number: 00536766)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 188,385 243,783

The bank loans and overdraft are secured by way of a fixed and floating charge over the company, all property and assets present and future including goodwill, book debts, uncalled capital, buildings fixtures and plant & machinery, and specific legal charges over individual properties owned by the company.

11. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1st January 2024 98,632 183,169 281,801
Property revaluation 118,163 165,001 283,164
Transfer (40,000 ) - (40,000 )
Deferred Tax (19,973 ) (37,591 ) (57,564 )

At 31st December 2024 156,822 310,579 467,401

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2024 and 31st December 2023:

2024 2023
£    £   
P R Harrison
Balance outstanding at start of year 51,047 16,018
Amounts advanced 22,329 51,047
Amounts repaid (51,047 ) (16,018 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,329 51,047