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Registered number: 14359146
Chapel Garage (NW) Ltd
Financial Statements
For The Year Ended 31 December 2024
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14359146
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,773 33,031
24,773 33,031
CURRENT ASSETS
Stocks 5 1,850 2,280
Debtors 6 3,668 8,798
Cash at bank and in hand 106,817 76,992
112,335 88,070
Creditors: Amounts Falling Due Within One Year 7 (59,233 ) (62,584 )
NET CURRENT ASSETS (LIABILITIES) 53,102 25,486
TOTAL ASSETS LESS CURRENT LIABILITIES 77,875 58,517
NET ASSETS 77,875 58,517
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 77,775 58,417
SHAREHOLDERS' FUNDS 77,875 58,517
Page 1
Page 2
For the year ending 31 December 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P D Jones
Director
27th March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Chapel Garage (NW) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14359146 . The registered office is 3 Prince Street, Waterloo, L22 5PB. The company's functional and presentational currency is GBP and no level of rounding has been used in the preparation of the financial statements.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 5)
6 5
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2024 9,875 30,000 39,875
As at 31 December 2024 9,875 30,000 39,875
Depreciation
As at 1 January 2024 2,469 4,375 6,844
Provided during the period 1,852 6,406 8,258
As at 31 December 2024 4,321 10,781 15,102
Net Book Value
As at 31 December 2024 5,554 19,219 24,773
As at 1 January 2024 7,406 25,625 33,031
5. Stocks
2024 2023
£ £
Stock 1,850 2,280
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,243 5,456
Other debtors 425 3,342
3,668 8,798
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,549 14,991
Other creditors 1,115 13,577
Taxation and social security 54,569 34,016
59,233 62,584
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5