Green Oval Garage (Wetherby) Ltd

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—4

Registered number: 11469602

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		128,147		89,110

			128,147		89,110
CURRENT ASSETS
Stocks		21,500		21,500
Debtors		26,516		27,803
Cash at bank and in hand		85,535		100,774

		133,551		150,077
Creditors: Amounts Falling Due Within One Year		(229,137 )		(211,318 )

NET CURRENT ASSETS (LIABILITIES)			(95,586 )		(61,241 )

TOTAL ASSETS LESS CURRENT LIABILITIES			32,561		27,869

Creditors: Amounts Falling Due After More Than One Year			(8,773 )		(19,065 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(8,910 )		-

NET ASSETS			14,878		8,804

CAPITAL AND RESERVES
Called up share capital	5		100		100
Profit and Loss Account			14,778		8,704

SHAREHOLDERS' FUNDS			14,878		8,804

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Green Oval Garage (Wetherby) Ltd

Abridged Balance Sheet (continued)

As At 31 July 2024

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.

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.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 July 2024 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Martin Paterson

Director

04/04/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Green Oval Garage (Wetherby) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11469602 . The registered office is 310 Avenue C, Thorp Arch Estate, Wetherby, West Yorkshire, LS23 7FR.

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 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

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 esmated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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:

Leasehold	-
Plant & Machinery	10% on SLM
Motor Vehicles	25% on WDV
Fixtures & Fittings	25% on WDV
Computer Equipment	25% on WDV

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

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2023: 7)

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Green Oval Garage (Wetherby) Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 July 2024

4. Tangible Assets

	Total
	£
Cost
As at 1 August 2023	122,880
Additions	46,976

As at 31 July 2024	169,856

Depreciation
As at 1 August 2023	33,770
Provided during the period	7,939

As at 31 July 2024	41,709

Net Book Value
As at 31 July 2024	128,147

As at 1 August 2023	89,110

5. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

6. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £2,586 (2023 : £1,569) were due to the fund. They are included in Other Creditors.

7. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 August 2023	Amounts advanced	Amounts repaid	Amounts written off	As at 31 July 2024
	£	£	£	£	£
Mr Martin Paterson	3,163	88,658	(13,292 )	-	78,529

The above loan is unsecured, interest free and repayable on demand.

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