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Draft
The Laurels Garage Limited
Registered Number:04520960
For the year ended 31 October 2024
England and Wales
Unaudited Financial Statements
2
Draft
For the year ended 31 October 2024
The Laurels Garage Limited
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
Draft
Registered Number :
04520960
As at 31 October 2024
The Laurels Garage Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
11,478
15,304
2
11,478
15,304
Current assets
Inventories
62,465
74,165
3
Trade and other receivables
20,831
11,336
4
617,078
Cash and cash equivalents
720,000
805,501
700,374
Trade and other payables: amounts falling due
within one year
(112,254)
(124,116)
5
588,120
681,385
Net current assets
Total assets less current liabilities
692,863
603,424
692,863
Net assets
603,424
Capital and reserves
Called up share capital
100
100
Retained earnings
692,763
603,324
692,863
603,424
Shareholders' funds
For the year ended 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 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 proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been deliver
ed.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mrs C H Davey Director
S J Davey Director
These financial statements were approved and authorised for issue by the Board on 08 December 2024 and were signed by:
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4
Draft
Registered Number :
04520960
For the year ended 31 October 2024
The Laurels Garage Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
Draft
For the year ended 31 October 2024
The Laurels Garage Limited
Notes to the Financial Statements
Statutory Information
The Laurels Garage Limited is a private limited company, limited by shares, domiciled in England and
Wales, registration number 04520960.
Registered address:
29 Bath Road
Peasedown St John
Bath
BA2 8DJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared
under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Reducing balance
25% Reducing balance
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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6
Draft
For the year ended 31 October 2024
The Laurels Garage Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor
vehicles
Plant and
machinery
£
£
£
Cost or
valuation
At 01 November 2023
108,187
17,050
91,137
At 31 October 2024
91,137
17,050
108,187
Provision for depreciation and impairmen
t
At 01 November 2023
92,883
14,167
78,716
Charge for year
3,826
721
3,105
At 31 October 2024
96,709
14,888
81,821
At 31 October 2024
Net book value
9,316
2,162
11,478
At 31 October 2023
12,421
2,883
15,304
3. Inventories
2023
2024
£
£
Stocks
74,165
62,465
4. Trade and other receivables
2023
2024
£
£
Trade debtors
11,336
20,831
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
30,203
30,867
Taxation and social security
65,372
58,915
Other creditors
28,541
22,472
124,116
112,254
6. Average number of persons employed
During the year the average number of employees was 7 (2023 : 7)
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