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Registered number: 05508363










BLAKENEY GARAGE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
BLAKENEY GARAGE LIMITED
REGISTERED NUMBER: 05508363

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets
 5 
485,971
541,704

  
485,971
541,704

Current assets
  

Stocks
  
9,703
94,831

Debtors: amounts falling due within one year
 7 
86,820
44,405

Cash at bank and in hand
  
139,444
102,892

Current liabilities
  
235,967
242,128

Creditors: amounts falling due within one year
 8 
(1,035,893)
(1,086,907)

Net current liabilities
  
 
 
(799,926)
 
 
(844,779)

Total assets less current liabilities
  
(313,955)
(303,075)

Provisions for liabilities
  

Deferred tax
  
(94,292)
(94,055)

Net liabilities
  
(408,247)
(397,130)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(408,347)
(397,230)

  
(408,247)
(397,130)

Page 1

 
BLAKENEY GARAGE LIMITED
REGISTERED NUMBER: 05508363

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 March 2025.




Mr M E Davenport
Director

The notes on pages 3 to 12 form part of these financial statements.
Page 2

 
BLAKENEY GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Blakeney Garage Limited is a private company limited by shares, incorporated in England and Wales, United Kingdom. The registered office is The Estate Office - Dickerson Industrial Estate, Ely Road, Waterbeach, Cambridge, England, CB25 9PG. 
The principal activity of the Company continued to be that of a fuel station, shop and vehicle workshop.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has incurred a loss for the year and has net liabilities though the company's financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for the foreseeable future. This is on the basis that ongoing support will continue to be made available from the company's parent undertaking.
The director understands the company’s parent undertaking will not demand repayment of the loan outstanding for at least one year and will provide further funding if necessary, and therefore the director considers it appropriate to continue to adopt the going concern basis of accounting in the preparation of the financial statements.

Page 3

 
BLAKENEY GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
BLAKENEY GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
BLAKENEY GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Leasehold property
-
2%
per annum straight line
Plant and machinery
-
20%
per annum on the reducing balance
Motor vehicles
-
20%
per annum on the reducing balance
Fixtures and fittings
-
20%
per annum on the reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
BLAKENEY GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

 

Page 7

 
BLAKENEY GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 7).

Page 8

 
BLAKENEY GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 October 2023
60,000



At 30 September 2024

60,000



Amortisation


At 1 October 2023
60,000



At 30 September 2024

60,000



Net book value



At 30 September 2024
-



At 30 September 2023
-



Page 9

 
BLAKENEY GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Leasehold property
Plant and machinery
Motor vehicles
Fixtures, fittings and office equipment
Total

£
£
£
£
£



Cost


At 1 October 2023
440,973
142,275
92,979
75,083
751,310


Additions
-
-
2,100
4,946
7,046


Disposals
-
-
(62,750)
-
(62,750)



At 30 September 2024

440,973
142,275
32,329
80,029
695,606



Depreciation


At 1 October 2023
33,222
88,424
35,949
52,011
209,606


Charge for the year on owned assets
8,819
10,770
7,408
10,876
37,873


Disposals
-
-
(37,844)
-
(37,844)



At 30 September 2024

42,041
99,194
5,513
62,887
209,635



Net book value



At 30 September 2024
398,932
43,081
26,816
17,142
485,971



At 30 September 2023
407,751
53,851
57,030
23,072
541,704


6.


Stocks

2024
2023
£
£

Vehicles
-
64,572

Goods for resale
9,703
30,259

9,703
94,831


Page 10

 
BLAKENEY GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
18,230
18,523

Amounts owed by group undertakings
54,223
23,456

Prepayments and accrued income
14,367
2,426

86,820
44,405



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
33,244
73,486

Amounts owed to group undertakings
982,645
997,498

Other taxation and social security
14,865
7,134

Other creditors
539
989

Accruals and deferred income
4,600
7,800

1,035,893
1,086,907



9.


Deferred taxation




2024


£






At beginning of year
(94,055)


Charged to profit or loss
(237)



At end of year
(94,292)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(94,338)
(94,302)

Other timing difference
46
247

(94,292)
(94,055)

Page 11

 
BLAKENEY GARAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50 (2023 - 50) Ordinary A shares of £1.00 each
50
50
50 (2023 - 50) Ordinary B shares of £1.00 each
50
50

100

100



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,181 (2023 - £2,561). Contributions totalling £539 (2023 - £989) were payable to the fund at the balance sheet date and are included in creditors.


12.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
6,250
6,250


13.


Related party transactions

The Company has taken advantage of the exemption from the requirement to disclose transactions and
balances with wholly owned group companies.


14.


Controlling party

The immediate and ultimate holding company is Alboro Holdings Limited, a company registered in England and Wales, United Kingdom. It's Registered Office is The Estate Office - Dickerson Industrial Estate, Ely Road, Waterbeach, Cambridge, England, CB25 9PG.
The ultimate controlling party is Mr M E & Mrs R L Davenport.

Page 12