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Company Registration No. 4255807 (England and Wales)
Cottage Street Garage Limited Unaudited accounts for the year ended 31 July 2024
Cottage Street Garage Limited Unaudited accounts Contents
Page
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Cottage Street Garage Limited Company Information for the year ended 31 July 2024
Directors
J M B Pettener A J Morris
Company Number
4255807 (England and Wales)
Registered Office
Cottage Street Macclesfield Cheshire SK11 8DZ
Accountants
Taylor Consultancy, Chartered Certified Accountants Primary House Spring Gardens Macclesfield Cheshire SK10 2DX
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Cottage Street Garage Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
102,063 
100,371 
Investment property
225,000 
225,000 
327,063 
325,371 
Current assets
Inventories
315,050 
392,163 
Debtors
524,222 
478,487 
Cash at bank and in hand
174,765 
110,074 
1,014,037 
980,724 
Creditors: amounts falling due within one year
(477,052)
(473,302)
Net current assets
536,985 
507,422 
Total assets less current liabilities
864,048 
832,793 
Creditors: amounts falling due after more than one year
(8,846)
(18,801)
Provisions for liabilities
Deferred tax
(15,459)
(12,868)
Net assets
839,743 
801,124 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
839,643 
801,024 
Shareholders' funds
839,743 
801,124 
For the year ending 31 July 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by
A J Morris Director Company Registration No. 4255807
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Cottage Street Garage Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Cottage Street Garage Limited is a private company, limited by shares, registered in England and Wales, registration number 4255807. The registered office is Cottage Street, Macclesfield, Cheshire, SK11 8DZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% per annum on cost
Plant & machinery
20% per annum on cost
Motor vehicles
25% per annum on cost
Fixtures & fittings
20% per annum on cost
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Stocks
Stocks and work-in-progress 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 expenditure and an appropriate proportion of fixed and variable overheads.
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Cottage Street Garage Limited Notes to the Accounts for the year ended 31 July 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2023
50,267 
At 31 July 2024
50,267 
Amortisation
At 1 August 2023
50,267 
At 31 July 2024
50,267 
Net book value
At 31 July 2024
- 
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Cottage Street Garage Limited Notes to the Accounts for the year ended 31 July 2024
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 August 2023
88,285 
194,179 
48,215 
42,395 
373,074 
Additions
- 
32,200 
- 
4,123 
36,323 
At 31 July 2024
88,285 
226,379 
48,215 
46,518 
409,397 
Depreciation
At 1 August 2023
39,378 
150,252 
48,215 
34,858 
272,703 
Charge for the year
8,670 
22,379 
- 
3,582 
34,631 
At 31 July 2024
48,048 
172,631 
48,215 
38,440 
307,334 
Net book value
At 31 July 2024
40,237 
53,748 
- 
8,078 
102,063 
At 31 July 2023
48,907 
43,927 
- 
7,537 
100,371 
6
Investment property
2024 
£ 
Fair value at 1 August 2023
225,000 
At 31 July 2024
225,000 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
99,529 
50,055 
Amounts due from group undertakings etc.
415,656 
416,111 
Accrued income and prepayments
9,037 
12,321 
524,222 
478,487 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
90,620 
70,471 
Trade creditors
185,499 
194,576 
Taxes and social security
152,608 
159,931 
Other creditors
29,814 
21,408 
Loans from directors
7,126 
15,531 
Accruals
1,385 
1,385 
477,052 
473,302 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
8,846 
18,801 
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Cottage Street Garage Limited Notes to the Accounts for the year ended 31 July 2024
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
20 Ordinary shares of £1 each
20 
20 
20 A Ordinary Shares of £1 each
20 
20 
20 B Ordinary Shares of £1 each
20 
20 
20 C Ordinary Shares of £1 each
20 
20 
20 D Ordinary Shares of £1 each
20 
20 
100 
100 
11
Transactions with related parties
Mr A J Morris & Mr J M B Pettener are shareholders and directors in both Cottage Street Garage Limited and Garden Street Garage Limited Garden Street Garage Limited charged Cottage Street Garage Limited £24,000 (2023 - £24,000) in the year for the rental of premises Cottage Street Garage Limited made a loan of £95,077 ( 2023 - £97,126 ) to Garden Street Garage Limited as shown in debtors due within one year. The loan is subject to interest at a commercial rate and is repayable upon demand Mr A J Morris & Mr J M B Pettener are shareholders and directors in both Cottage Street Garage Limited and Three Shire Defenders Limited Three Shire Defenders Limited charged Cottage Street Garage Limited £12,000 (2023 - £12,000) in the year for the rental of premises Cottage Street Garage Limited made a loan of £320,579 ( 2023 - £318,985) to Three Shire Defenders as shown in debtors due within one year. The loan is subject to interest at a commercial rate and is repayable upon demand
12
Average number of employees
During the year the average number of employees was 33 (2023: 28).
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