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COMPANY REGISTRATION NUMBER: 04235415
Central Garage (Marshfield) Limited
Filleted Unaudited Financial Statements
Year ended
31 May 2024
Central Garage (Marshfield) Limited
Financial Statements
Year ended 31 May 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Central Garage (Marshfield) Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
12,031
14,678
Current assets
Stocks
400
2,000
Debtors
6
84,175
54,743
Cash at bank and in hand
89,759
94,165
---------
---------
174,334
150,908
Creditors: amounts falling due within one year
7
48,877
54,587
---------
---------
Net current assets
125,457
96,321
---------
---------
Total assets less current liabilities
137,488
110,999
Provisions
Taxation including deferred tax
118
689
---------
---------
Net assets
137,370
110,310
---------
---------
Central Garage (Marshfield) Limited
Statement of Financial Position (continued)
31 May 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
137,270
110,210
---------
---------
Shareholder funds
137,370
110,310
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 May 2025 , and are signed on behalf of the board by:
N R Snary
Director
Company registration number: 04235415
Central Garage (Marshfield) Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Church Green East, Redditch, Worcestershire, B98 8BT. The trading address is Hay Street, Marshfield, Chippenham, Wiltshire, SN14 8NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents sales of goods and services net of VAT and trade discounts. Turnover of goods are recognised when goods are physically delivered to the customer. Turnover of services shown in the profit and loss account represents the fair value of services provided to the extent that there is a right to consideration. It is measured at the fair value of the consideration due.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
straight line over period of lease
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% 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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, either as financial assets, financial liabilities or equity interests. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 June 2023
840
31,493
8,839
11,600
52,772
Additions
1,400
1,400
Disposals
( 200)
( 200)
----
--------
-------
--------
--------
At 31 May 2024
840
31,493
8,839
12,800
53,972
----
--------
-------
--------
--------
Depreciation
At 1 June 2023
840
22,090
6,209
8,955
38,094
Charge for the year
2,350
658
1,003
4,011
Disposals
( 164)
( 164)
----
--------
-------
--------
--------
At 31 May 2024
840
24,440
6,867
9,794
41,941
----
--------
-------
--------
--------
Carrying amount
At 31 May 2024
7,053
1,972
3,006
12,031
----
--------
-------
--------
--------
At 31 May 2023
9,403
2,630
2,645
14,678
----
--------
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
6,750
8,167
Other debtors
77,425
46,576
--------
--------
84,175
54,743
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
16,378
24,528
Social security and other taxes
28,047
21,922
Other creditors
4,452
8,137
--------
--------
48,877
54,587
--------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Director's advances, credits and guarantees
With regard to the advances to the director, the balance at the start of the year was £ 36,152 . A repayment of £ 12,022 and further advances totalling £ 42,066 were made during the year. The balance at the year-end was £ 66,196 . The advances were made interest-free and are repayable on demand.