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REGISTERED NUMBER: 08041923 (England and Wales)

















Clinton Garage Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






Clinton Garage Limited (Registered number: 08041923)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clinton Garage Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: L Saikhon
S Saikhon
S S Saikhon
Mrs P Saikhon





REGISTERED OFFICE: Clinton Lane
Kenilworth
Warwickshire
CV8 1AS





REGISTERED NUMBER: 08041923 (England and Wales)





ACCOUNTANTS: Moffat Gilbert
Unit 12
Shottery Brook Office Park
Timothy's Bridge Road
Stratford upon Avon
Warwickshire
CV37 9NR

Clinton Garage Limited (Registered number: 08041923)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 57,863 53,731
57,863 53,731

CURRENT ASSETS
Stocks 7,404 8,686
Debtors 6 35,074 72,134
Cash at bank and in hand 61,453 48,830
103,931 129,650
CREDITORS
Amounts falling due within one year 7 100,846 119,358
NET CURRENT ASSETS 3,085 10,292
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,948

64,023

PROVISIONS FOR LIABILITIES 7,566 9,938
NET ASSETS 53,382 54,085

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 53,282 53,985
SHAREHOLDERS' FUNDS 53,382 54,085

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Clinton Garage Limited (Registered number: 08041923)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





S Saikhon - Director


Clinton Garage Limited (Registered number: 08041923)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Clinton Garage Limited 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Income is recognised on completion of work and return of vehicle to customer when the invoice is raised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Clinton Garage Limited (Registered number: 08041923)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Operating leases
Rentals payable under operating leases are charged to the profit and loss account as they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 407,795
AMORTISATION
At 1 September 2023
and 31 August 2024 407,795
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 114,005 35,307 - 10,974 160,286
Additions 1,500 - 15,000 - 16,500
At 31 August 2024 115,505 35,307 15,000 10,974 176,786
DEPRECIATION
At 1 September 2023 81,303 17,786 - 7,466 106,555
Charge for year 8,551 2,628 312 877 12,368
At 31 August 2024 89,854 20,414 312 8,343 118,923
NET BOOK VALUE
At 31 August 2024 25,651 14,893 14,688 2,631 57,863
At 31 August 2023 32,702 17,521 - 3,508 53,731

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 99 250
Amounts owed by group undertakings 33,515 71,884
Prepayments 1,460 -
35,074 72,134

Clinton Garage Limited (Registered number: 08041923)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 31,286 37,476
Tax 8,266 28,242
Social security and other taxes 36,134 29,528
Other creditors - 17,294
Accrued expenses 25,160 6,818
100,846 119,358

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
10,000 Ordinary .01 100 100

9. RESERVES
Retained
earnings
£   

At 1 September 2023 53,985
Profit for the year 19,297
Dividends (20,000 )
At 31 August 2024 53,282

10. RELATED PARTY DISCLOSURES

Rent of £30,000 (2023 £30,000) was paid to the parent undertaking Spa Property Investments Limited, together with management charges of £9,500.
At the year end the balance owed to the company by the parent undertaking was £33,515 (2023 £71,884).

11. ULTIMATE CONTROLLING PARTY

The share capital is owned 100% by the holding company Spa Property Investments Limited, a company incorporated in England, whose registered office is located at 16 Earl Rivers Avenue, Heathcote, Warwick. Mr S S Saikhon and Mrs P K Saikhon are regarded as the joint ultimate controlling parties of the company by virtue of their majority shareholdings in the parent undertaking.

12. SECURED DEBTS

National Westminster Bank PLC hold a debenture by way of fixed charge over the current and future property of the company together with a floating charge of all other current and future assets of the company.The charge is dated 6th August 2012.