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REGISTERED NUMBER: 04888404















S & S GARAGE SERVICE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






S & S GARAGE SERVICE LIMITED (REGISTERED NUMBER: 04888404)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


S & S GARAGE SERVICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: S Smith



SECRETARY: Miss P Mazzarella



REGISTERED OFFICE: Fairview
Brickyard Lane
Theddlethorpe St Helens
Mablethorpe
Lincolnshire
LN12 1NR



REGISTERED NUMBER: 04888404



ACCOUNTANTS: Duncan & Toplis Limited
Oxley House
Lincoln Way
Louth
Lincolnshire
LN11 0LS



BANKERS: Lloyds Bank
24 Mercer Row
Louth
Lincolnshire
LN11 9JH

S & S GARAGE SERVICE LIMITED (REGISTERED NUMBER: 04888404)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,420 47,136

CURRENT ASSETS
Stocks 22,000 29,757
Debtors 5 6,429 2,282
Cash at bank and in hand 166,393 103,150
194,822 135,189
CREDITORS
Amounts falling due within one year 6 50,497 44,561
NET CURRENT ASSETS 144,325 90,628
TOTAL ASSETS LESS CURRENT LIABILITIES 184,745 137,764

PROVISIONS FOR LIABILITIES 10,105 11,784
NET ASSETS 174,640 125,980

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 174,540 125,880
SHAREHOLDERS' FUNDS 174,640 125,980

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

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 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.

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 director and authorised for issue on 11 February 2025 and were signed by:





S Smith - Director


S & S GARAGE SERVICE LIMITED (REGISTERED NUMBER: 04888404)

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

1. STATUTORY INFORMATION

S & S Garage Service Limited is a private company, limited by shares , registered in Not specified/Other. 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 charged to customers for goods and services provided during the year, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenants improvements to garage and workshop - 20% on cost and 4% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured 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 statement of financial position date.


S & S GARAGE SERVICE LIMITED (REGISTERED NUMBER: 04888404)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Tenants
improvements
to garage Fixtures
and Plant and and Motor
workshop machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 2,002 97,032 3,390 7,500 109,924
Additions - 640 - - 640
At 31 October 2024 2,002 97,672 3,390 7,500 110,564
DEPRECIATION
At 1 November 2023 2,002 53,963 2,102 4,721 62,788
Charge for year - 6,468 193 695 7,356
At 31 October 2024 2,002 60,431 2,295 5,416 70,144
NET BOOK VALUE
At 31 October 2024 - 37,241 1,095 2,084 40,420
At 31 October 2023 - 43,069 1,288 2,779 47,136

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,714 1,407
Other debtors 4,715 875
6,429 2,282

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,426 9,618
Taxation and social security 38,206 16,128
Other creditors 1,865 18,815
50,497 44,561

S & S GARAGE SERVICE LIMITED (REGISTERED NUMBER: 04888404)

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

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
S Smith
Balance outstanding at start of year (16,945 ) (49,953 )
Amounts advanced 52,480 63,320
Amounts repaid (35,312 ) (30,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 223 (16,945 )

The directors loan account is unsecured, interest free and repayable on demand.

9. RELATED PARTY DISCLOSURES

Remuneration paid to the directors during the year was £9,100 (2023: £9,100).