Registered number
00728428
(England and Wales)
Meir Road Garage Limited
Filleted Accounts
30 June 2024
Meir Road Garage Limited
Registered number: 00728428
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 39,201 39,812
Current assets
Cash at bank and in hand 11,165 11,165
Creditors: amounts falling due within one year 4 (62,662) (62,715)
Net current liabilities (51,497) (51,550)
Net liabilities (12,296) (11,738)
Capital and reserves
Called up share capital 3,000 3,000
Revaluation reserve 5 44,500 44,500
Profit and loss account (59,796) (59,238)
Shareholders' funds (12,296) (11,738)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A S Brian
Director
Approved by the board on 17 March 2025
Meir Road Garage Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 1% of revalued cost
Plant and machinery 15% reducing balance basis
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2023 60,888 10,180 71,068
At 30 June 2024 60,888 10,180 71,068
Depreciation
At 1 July 2023 21,090 10,166 31,256
Charge for the year 609 2 611
At 30 June 2024 21,699 10,168 31,867
Net book value
At 30 June 2024 39,189 12 39,201
At 30 June 2023 39,798 14 39,812
Freehold land and buildings: 2024 2023
£ £
Historical cost 16,388 16,388
Cumulative depreciation based on historical cost 5,736 5,736
10,652 10,652
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 300 300
Other creditors 62,362 62,415
62,662 62,715
5 Revaluation reserve 2024 2023
£ £
At 1 July 2023 44,500 44,500
At 30 June 2024 44,500 44,500
6 Other information
Meir Road Garage Limited is a private company limited by shares and incorporated in England. Its registered office is:
145 Meir Road
Longton
Stoke-on-Trent
Staffordshire
ST3 7JF
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