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PARK ROAD GARAGE SERVICE CENTRE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JULY 2024






PARK ROAD GARAGE SERVICE CENTRE LTD (REGISTERED NUMBER: 07698201)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 6

PARK ROAD GARAGE SERVICE CENTRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTOR: R K Pedder





SECRETARY: Mrs T Pedder





REGISTERED OFFICE: Park Road Garage Service Centre 10 Park
Kempston
Bedford
Bedfordshire
MK42 8NZ





REGISTERED NUMBER: 07698201 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

PARK ROAD GARAGE SERVICE CENTRE LTD (REGISTERED NUMBER: 07698201)

BALANCE SHEET
31ST JULY 2024

31/7/24 31/7/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 739 986

CURRENT ASSETS
Debtors 5 4,553 4,535
Cash at bank 18,207 29,095
22,760 33,630
CREDITORS
Amounts falling due within one year 6 12,154 16,899
NET CURRENT ASSETS 10,606 16,731
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,345

17,717

CREDITORS
Amounts falling due after more than one year 7 4,426 9,591
NET ASSETS 6,919 8,126

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,819 8,026
6,919 8,126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

PARK ROAD GARAGE SERVICE CENTRE LTD (REGISTERED NUMBER: 07698201)

BALANCE SHEET - continued
31ST JULY 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 6th April 2025 and were signed by:





R K Pedder - Director


PARK ROAD GARAGE SERVICE CENTRE LTD (REGISTERED NUMBER: 07698201)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024

1. STATUTORY INFORMATION

Park Road Garage Service Centre Ltd 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

PARK ROAD GARAGE SERVICE CENTRE LTD (REGISTERED NUMBER: 07698201)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st August 2023
and 31st July 2024 5,115 7,100 1,176 13,391
DEPRECIATION
At 1st August 2023 4,734 6,565 1,106 12,405
Charge for year 95 134 18 247
At 31st July 2024 4,829 6,699 1,124 12,652
NET BOOK VALUE
At 31st July 2024 286 401 52 739
At 31st July 2023 381 535 70 986

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade debtors 5,211 3,573
Doubtful debt provision (1,732 ) -
Tax 98 -
Prepayments 976 962
4,553 4,535

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Bank loans and overdrafts 5,166 5,012
Trade creditors 1,822 5,724
Corporation tax - 584
Social security and other taxes (248 ) (248 )
VAT 175 713
Directors' current accounts 4,339 4,214
Accruals and deferred income 900 900
12,154 16,899

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/7/24 31/7/23
£    £   
Bank loans - 1-2 years 4,426 9,591

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PARK ROAD GARAGE SERVICE CENTRE LTD

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 Statement of Comprehensive Income 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 Park Road Garage Service Centre Ltd for the year ended 31st July 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 Park Road Garage Service Centre Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Park Road Garage Service Centre Ltd and state those matters that we have agreed to state to the director of Park Road Garage Service Centre Ltd 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 Park Road Garage Service Centre Ltd and its director for our work or for this report.

It is your duty to ensure that Park Road Garage Service Centre Ltd 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 loss of Park Road Garage Service Centre Ltd. You consider that Park Road Garage Service Centre Ltd 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 Park Road Garage Service Centre Ltd. 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.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


6th April 2025