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REGISTERED NUMBER: 02574685 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MIDDLETON GARAGE LIMITED

MIDDLETON GARAGE LIMITED (REGISTERED NUMBER: 02574685)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDDLETON GARAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: S M Burrows
G Potter



SECRETARY: S M Burrows



REGISTERED OFFICE: Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ



REGISTERED NUMBER: 02574685 (England and Wales)



ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ



SOLICITORS: Wannops LLP
South Pallant House
Chichester
West Sussex
PO19 1TH

MIDDLETON GARAGE LIMITED (REGISTERED NUMBER: 02574685)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 - 19,091

CURRENT ASSETS
Stocks 5 - 438,286
Debtors 6 10,340 272,100
Cash at bank and in hand 71,002 231
81,342 710,617
CREDITORS
Amounts falling due within one year 7 16,906 55,093
NET CURRENT ASSETS 64,436 655,524
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,436

674,615

CREDITORS
Amounts falling due after more than one year 8 - (17,444 )

PROVISIONS FOR LIABILITIES 10 - (3,341 )
NET ASSETS 64,436 653,830

CAPITAL AND RESERVES
Called up share capital 56,000 56,000
Retained earnings 11 8,436 597,830
SHAREHOLDERS' FUNDS 64,436 653,830

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

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

MIDDLETON GARAGE LIMITED (REGISTERED NUMBER: 02574685)

BALANCE SHEET - continued
31 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:





S M Burrows - Director


MIDDLETON GARAGE LIMITED (REGISTERED NUMBER: 02574685)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Middleton Garage 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. 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.

Going concern
The company has ceased to trade and this is the final accounting period for the company. After all liabilities are settled the assets are to be transferred to the holding company and the company is to be dissolved. Therefore the financial statements have been prepared on a basis other than going concern.

Revenue
Revenue represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Plant and machinery - Straight line over 10 years and Straight line over 3 years

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

Financial instruments
Financial instruments are classified by the directors as basic following the conditions in FRS 102 Section 1A. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MIDDLETON GARAGE LIMITED (REGISTERED NUMBER: 02574685)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Consignment stock
Consignment stock is recognised as an asset in the balance sheet once it is established that the transfer to the company is substantive and that the risks and rewards of the inventories have passed to the company. The liability of the company for these goods is also recognised at this point.

Operating lease commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements Plant and
to property machinery Totals
£ £ £
COST
At 1 January 2024 80,558 100,263 180,821
Disposals (80,558 ) (100,263 ) (180,821 )
At 31 December 2024 - - -
DEPRECIATION
At 1 January 2024 79,108 82,622 161,730
Eliminated on disposal (79,108 ) (82,622 ) (161,730 )
At 31 December 2024 - - -
NET BOOK VALUE
At 31 December 2024 - - -
At 31 December 2023 1,450 17,641 19,091

5. STOCKS
2024 2023
£ £
Finished goods - 438,286

MIDDLETON GARAGE LIMITED (REGISTERED NUMBER: 02574685)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors - 8,937
Amounts owed by group undertakings 8,337 -
Other debtors 2,003 1,150
Prepayments and accrued income - 9,775
10,340 19,862

Amounts falling due after more than one year:
Amounts owed by group undertakings - 252,238

Aggregate amounts 10,340 272,100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts - 18,787
Trade creditors 7,663 12,238
Social security and other taxes - 6,356
VAT 7,190 4,731
Accruals and deferred income 2,053 12,981
16,906 55,093

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans - 1-2 years - 10,000
Bank loans - 2-5 years - 7,444
- 17,444

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank overdraft - 8,787
Bank loans - 27,444
- 36,231

10. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax - 3,341

MIDDLETON GARAGE LIMITED (REGISTERED NUMBER: 02574685)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


10. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 January 2024 3,341
Accelerated capital allowance (3,341 )
Balance at 31 December 2024 -

11. RESERVES
Retained
earnings
£

At 1 January 2024 597,830
Deficit for the year (289,394 )
Dividends (300,000 )
At 31 December 2024 8,436