Registered number
07702898
Central Garage (Barnsley) Ltd
Filleted Accounts
31 August 2024
Central Garage (Barnsley) Ltd
Registered number: 07702898
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 904 746
Current assets
Cash at bank and in hand 40,694 15,957
Creditors: amounts falling due within one year 5 (37,202) (15,667)
Net current assets 3,492 290
Net assets 4,396 1,036
Capital and reserves
Called up share capital 4 4
Profit and loss account 4,392 1,032
Shareholders' funds 4,396 1,036
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Swaine
Director
Approved by the board on 2 April 2025
Central Garage (Barnsley) Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 21,000
At 31 August 2024 21,000
Amortisation
At 1 September 2023 21,000
At 31 August 2024 21,000
Net book value
At 31 August 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 11,795 500 12,295
Additions 626 - 626
At 31 August 2024 12,421 500 12,921
Depreciation
At 1 September 2023 11,049 500 11,549
Charge for the year 468 - 468
At 31 August 2024 11,517 500 12,017
Net book value
At 31 August 2024 904 - 904
At 31 August 2023 746 - 746
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,831 2,147
Taxation and social security costs 20,371 13,520
Other creditors 15,000 -
37,202 15,667
6 Controlling party
The company is controlled Mr J Swaine, Mrs T Swaine, Mrs K Swaine and Mr B Swaine.
7 Other information
Central Garage (Barnsley) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
50 Hoyland Road
Hoyland Common
Barnsley
South Yorkshire
S74 0PB
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