Registered number
04425178
Crane Bank Garages Limited
Filleted Accounts
31 August 2024
Crane Bank Garages Limited
Registered number: 04425178
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 7,299 11,799
Tangible assets 4 214,497 230,877
221,796 242,676
Current assets
Stocks 26,198 26,080
Debtors 5 75,786 16,631
Cash at bank and in hand 1,293,230 1,006,618
1,395,214 1,049,329
Creditors: amounts falling due within one year 6 (456,793) (342,126)
Net current assets 938,421 707,203
Total assets less current liabilities 1,160,217 949,879
Provisions for liabilities (12,832) (14,011)
Net assets 1,147,385 935,868
Capital and reserves
Called up share capital 1,100 1,100
Profit and loss account 1,146,285 934,768
Shareholders' funds 1,147,385 935,868
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.
J Brookes
Director
Approved by the board on 14 February 2025
Crane Bank Garages Limited
Notes to the Accounts
for the year ended 31 August 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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Leasehold property improvements 10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 43 44
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 112,499
At 31 August 2024 112,499
Amortisation
At 1 September 2023 100,700
Provided during the year 4,500
At 31 August 2024 105,200
Net book value
At 31 August 2024 7,299
At 31 August 2023 11,799
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 185,045 369,179 74,509 628,733
Additions - 500 - 500
At 31 August 2024 185,045 369,679 74,509 629,233
Depreciation
At 1 September 2023 49,305 300,517 48,034 397,856
Charge for the year 151 11,645 5,084 16,880
At 31 August 2024 49,456 312,162 53,118 414,736
Net book value
At 31 August 2024 135,589 57,517 21,391 214,497
At 31 August 2023 135,740 68,662 26,475 230,877
5 Debtors 2024 2023
£ £
Trade debtors 22,456 15,631
Other debtors 53,330 1,000
75,786 16,631
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 112,478 106,810
Taxation and social security costs 245,812 171,229
Other creditors 98,503 64,087
456,793 342,126
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
J Brookes
Repayable on demand with no charge to interest - 26,165 - 26,165
W G Brookes
Repayable on demand with no charge to interest - 26,165 - 26,165
- 52,330 - 52,330
8 Controlling party
The company's ultimate parent company is Crane Bank Limited. It's registered office is:
Chesil, Queens Park Road, Chester, CH4 7AD
9 Other information
Crane Bank Garages Limited is a private company limited by shares and incorporated in England. Its registered office is:
Chesil
Queens Park Road
Chester
CH4 7AD
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