IRIS Accounts Production v24.3.2.46 06720909 director 1.11.23 31.10.24 31.10.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh067209092023-10-31067209092024-10-31067209092023-11-012024-10-31067209092022-10-31067209092022-11-012023-10-31067209092023-10-3106720909ns15:EnglandWales2023-11-012024-10-3106720909ns14:PoundSterling2023-11-012024-10-3106720909ns10:Director12023-11-012024-10-3106720909ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3106720909ns10:SmallEntities2023-11-012024-10-3106720909ns10:AuditExemptWithAccountantsReport2023-11-012024-10-3106720909ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3106720909ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3106720909ns10:FullAccounts2023-11-012024-10-310672090912023-11-012024-10-3106720909ns10:OrdinaryShareClass12023-11-012024-10-3106720909ns10:RegisteredOffice2023-11-012024-10-3106720909ns5:CurrentFinancialInstruments2024-10-3106720909ns5:CurrentFinancialInstruments2023-10-3106720909ns5:Non-currentFinancialInstruments2024-10-3106720909ns5:Non-currentFinancialInstruments2023-10-3106720909ns5:ShareCapital2024-10-3106720909ns5:ShareCapital2023-10-3106720909ns5:RetainedEarningsAccumulatedLosses2024-10-3106720909ns5:RetainedEarningsAccumulatedLosses2023-10-3106720909ns5:NetGoodwill2023-11-012024-10-3106720909ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3106720909ns5:PlantMachinery2023-11-012024-10-3106720909ns5:MotorVehicles2023-11-012024-10-3106720909ns5:NetGoodwill2023-10-3106720909ns5:NetGoodwill2024-10-3106720909ns5:NetGoodwill2023-10-3106720909ns5:PlantMachinery2023-10-3106720909ns5:MotorVehicles2023-10-3106720909ns5:PlantMachinery2024-10-3106720909ns5:MotorVehicles2024-10-3106720909ns5:PlantMachinery2023-10-3106720909ns5:MotorVehicles2023-10-3106720909ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3106720909ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3106720909ns10:OrdinaryShareClass12024-10-31
REGISTERED NUMBER: 06720909 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

The Garage (Gainsborough) Limited

The Garage (Gainsborough) Limited (Registered number: 06720909)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


The Garage (Gainsborough) Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: R A Hart





REGISTERED OFFICE: 82 Bridge Street
Gainsborough
Lincolnshire
DN21 1LS





REGISTERED NUMBER: 06720909 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
The Garage (Gainsborough) Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Garage (Gainsborough) Limited for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of The Garage (Gainsborough) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Garage (Gainsborough) Limited and state those matters that we have agreed to state to the director of The Garage (Gainsborough) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Garage (Gainsborough) Limited and its director for our work or for this report.

It is your duty to ensure that The Garage (Gainsborough) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Garage (Gainsborough) Limited. You consider that The Garage (Gainsborough) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Garage (Gainsborough) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


17 March 2025

The Garage (Gainsborough) Limited (Registered number: 06720909)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000 3,750
Tangible assets 5 55,533 48,811
58,533 52,561

CURRENT ASSETS
Stocks 4,250 12,000
Debtors 6 2,684 1,075
Cash at bank and in hand 14,059 10,303
20,993 23,378
CREDITORS
Amounts falling due within one year 7 88,521 81,691
NET CURRENT LIABILITIES (67,528 ) (58,313 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,995

)

(5,752

)

CREDITORS
Amounts falling due after more than one
year

8

(25,732

)

(42,572

)

PROVISIONS FOR LIABILITIES (10,551 ) (9,274 )
NET LIABILITIES (45,278 ) (57,598 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (45,279 ) (57,599 )
SHAREHOLDERS' FUNDS (45,278 ) (57,598 )

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 March 2025 and were signed by:




R A Hart - Director


The Garage (Gainsborough) Limited (Registered number: 06720909)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

The Garage (Gainsborough) 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

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

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

The Garage (Gainsborough) Limited (Registered number: 06720909)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 15,000
AMORTISATION
At 1 November 2023 11,250
Charge for year 750
At 31 October 2024 12,000
NET BOOK VALUE
At 31 October 2024 3,000
At 31 October 2023 3,750

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2023 191,468 3,000 194,468
Additions 5,690 12,500 18,190
At 31 October 2024 197,158 15,500 212,658
DEPRECIATION
At 1 November 2023 144,344 1,313 145,657
Charge for year 7,922 3,546 11,468
At 31 October 2024 152,266 4,859 157,125
NET BOOK VALUE
At 31 October 2024 44,892 10,641 55,533
At 31 October 2023 47,124 1,687 48,811

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,684 1,075

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,514 4,595
Trade creditors 53,424 39,622
Taxation and social security 21,946 12,746
Other creditors 7,637 24,728
88,521 81,691

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 25,732 32,165
Other creditors - 10,407
25,732 42,572

The Garage (Gainsborough) Limited (Registered number: 06720909)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. CALLED UP SHARE CAPITAL

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