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Registered Number: 15234598
England and Wales

 

 

 


Abridged Accounts


for the period ended 31 October 2024

for

L.T ELSTON GARAGE LTD

 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 3 41,056 
41,056 
Current assets    
Stocks 2,000 
Debtors 13,065 
Cash at bank and in hand 10,163 
25,228 
Creditors: amount falling due within one year (82,372)
Net current assets (57,144)
 
Total assets less current liabilities (16,088)
Net assets (16,088)
 

Capital and reserves
   
Called up share capital 4 2 
Profit and loss account (16,090)
Shareholders' funds (16,088)
 


For the period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 28 May 2025 and were signed on its behalf by:


-------------------------------
Lawrence Elston
Director
-------------------------------
Tanya Haskins-Spellman
Director
1
General Information
L.T Elston Garage Ltd is a private company, limited by shares, registered in England and Wales, registration number 15234598, registration address Unit 2, Hornbury Hill Farm, Malmesbury, Wiltshire, SN16 9QH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold Property 2% Straight Line
Plant and Machinery 25% Reducing Balance
Office Equipment 20% Reducing Balance
Computer Equipment 33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 2.
3.

Tangible fixed assets

Cost or valuation Leasehold Property   Plant and Machinery   Office Equipment   Computer Equipment   Total
  £   £   £   £   £
At 25 October 2023        
Additions 18,093    29,847    150    1,230    49,320 
Disposals        
At 31 October 2024 18,093    29,847    150    1,230    49,320 
Depreciation
At 25 October 2023        
Charge for period 362    7,462    30    410    8,264 
On disposals        
At 31 October 2024 362    7,462    30    410    8,264 
Net book values
Closing balance as at 31 October 2024 17,731    22,385    120    820    41,056 
Opening balance as at 25 October 2023        


4.

Share Capital

Allotted, called up and fully paid
2024
£
2 Class A shares of £1.00 each

2