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Registered number: 05556389
Central Garage (Upper Hartfield) Limited
Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05556389
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 261,754 254,726
261,754 254,726
CURRENT ASSETS
Stocks 5 18,000 15,000
Debtors 6 21,716 31,635
Cash at bank and in hand 261,619 227,402
301,335 274,037
Creditors: Amounts Falling Due Within One Year 7 (138,399 ) (147,440 )
NET CURRENT ASSETS (LIABILITIES) 162,936 126,597
TOTAL ASSETS LESS CURRENT LIABILITIES 424,690 381,323
NET ASSETS 424,690 381,323
CAPITAL AND RESERVES
Called up share capital 8 4 4
Profit and Loss Account 424,686 381,319
SHAREHOLDERS' FUNDS 424,690 381,323
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For the year ending 31 October 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
Mr A Cooper
Director
Mr L Miller
Director
28 February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Central Garage (Upper Hartfield) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05556389 . The registered office is Yew Tree House, Lewes Road, Forest Row, East Sussex, RH18 5AA.
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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Freehold
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. 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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 248,838 42,726 14,233 403 306,200
Additions 8,500 - - - 8,500
As at 31 October 2024 257,338 42,726 14,233 403 314,700
Depreciation
As at 1 November 2023 - 41,757 9,530 187 51,474
Provided during the period - 242 1,176 54 1,472
As at 31 October 2024 - 41,999 10,706 241 52,946
Net Book Value
As at 31 October 2024 257,338 727 3,527 162 261,754
As at 1 November 2023 248,838 969 4,703 216 254,726
5. Stocks
2024 2023
£ £
Stock 18,000 15,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 16,585 21,830
Other debtors 5,131 9,805
21,716 31,635
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 30,506 38,305
Other creditors 77,577 92,376
Taxation and social security 30,316 16,759
138,399 147,440
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
9. Directors Advances, Credits and Guarantees
Included in other creditors due within one year are loans from the directors, A Cooper amounting to £(33,480) (2023 - £(43,671)) and L Miller amounting to £(37,142) (2023 - £(43,423)).
10. Controlling Parties
The company's controlling party is its directors, A Cooper and L Miller, by virtue of their interest in the share capital of the company.
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