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REGISTERED NUMBER: 05518388 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

R & G Automotives Ltd

R & G Automotives Ltd (Registered number: 05518388)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R & G Automotives Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr J P D Gant
Mr M E W Read





SECRETARY: Mr J P D Gant





REGISTERED OFFICE: Unit 7 A, Woodhill Industrial Estate
Nottingham Lane
Old Dalby
Melton Mowbray
Leicestershire
LE14 3LX





REGISTERED NUMBER: 05518388 (England and Wales)





ACCOUNTANTS: SRB Associates (Leicestershire) Limited
Pera Business Park
Nottingham Road
Melton Mowbray
Leicestershire
LE13 0PB

R & G Automotives Ltd (Registered number: 05518388)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,937 43,008

CURRENT ASSETS
Stocks 5 5,459 4,423
Debtors 6 3,281 7,437
Prepayments and accrued income 5,353 5,029
Cash at bank and in hand 77,090 52,412
91,183 69,301
CREDITORS
Amounts falling due within one year 7 55,418 40,518
NET CURRENT ASSETS 35,765 28,783
TOTAL ASSETS LESS CURRENT
LIABILITIES

72,702

71,791

PROVISIONS FOR LIABILITIES 8 7,388 8,172
NET ASSETS 65,314 63,619

CAPITAL AND RESERVES
Called up share capital 9 4 4
Retained earnings 65,310 63,615
SHAREHOLDERS' FUNDS 65,314 63,619

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

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

R & G Automotives Ltd (Registered number: 05518388)

Balance Sheet - continued
31 July 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 Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:





Mr J P D Gant - Director


R & G Automotives Ltd (Registered number: 05518388)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

R & G Automotives Ltd 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 represents amounts receivable from goods and services provided in the normal course of business, net of trade discounts, VAT and other sales related taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each assets over its expected useful life, as follow:

Motor Vehicles - 25% Reducing Balance Basis
Computer equipment - 20% Reducing Balance Basis
Plant and equipment - 20% Reducing Balance Basis

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing 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.

R & G Automotives Ltd (Registered number: 05518388)

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

2. ACCOUNTING POLICIES - continued

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 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 83,804 64,985 7,401 156,190
Additions - 22,498 - 22,498
Disposals - (29,995 ) - (29,995 )
At 31 July 2024 83,804 57,488 7,401 148,693
DEPRECIATION
At 1 August 2023 75,671 31,225 6,286 113,182
Charge for year 1,627 9,846 223 11,696
Eliminated on disposal - (13,122 ) - (13,122 )
At 31 July 2024 77,298 27,949 6,509 111,756
NET BOOK VALUE
At 31 July 2024 6,506 29,539 892 36,937
At 31 July 2023 8,133 33,760 1,115 43,008

5. STOCKS
31.7.24 31.7.23
£    £   
Stocks 3,258 3,312
Work-in-progress 2,201 1,111
5,459 4,423

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 3,281 7,437

R & G Automotives Ltd (Registered number: 05518388)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 14,912 4,400
Taxation and social security 31,807 26,272
Other creditors 8,699 9,846
55,418 40,518

8. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 7,388 8,172

Deferred
tax
£   
Balance at 1 August 2023 8,172
Credit to Income Statement during year (784 )
Balance at 31 July 2024 7,388

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
2 Ordinary A 1 2 2
2 Ordinary B 1 2 2
4 4

10. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £1,901 (2023: £1,607) due to Mr J P D Gant and £1,901 (2023: £4,107) due to Mr M E W Read. The amounts due to the directors are interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The controlling parties are Mr J P D Gant and Mr M E W Read the directors of the company who own an equal 50% share of the issued share capital.