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Company Registration No. 02759139 (England and Wales)
The Garage Computer Company Limited Unaudited accounts for the year ended 31 October 2024
The Garage Computer Company Limited Unaudited accounts Contents
Page
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The Garage Computer Company Limited Company Information for the year ended 31 October 2024
Director
MJ White
Company Number
02759139 (England and Wales)
Registered Office
The Old Surgery 48 High Street Chalgrove Oxfordshire OX44 7SS
Accountants
Chris Burgess Accountancy Ltd The Old Surgery 48 High Street Chalgrove Oxfordshire OX44 7SS
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The Garage Computer Company Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
41 
39 
Current assets
Debtors
1,250 
1,045 
Cash at bank and in hand
3,169 
597 
4,419 
1,642 
Creditors: amounts falling due within one year
(10,863)
(10,816)
Net current liabilities
(6,444)
(9,174)
Net liabilities
(6,403)
(9,135)
Capital and reserves
Called up share capital
3,032 
3,032 
Profit and loss account
(9,435)
(12,167)
Shareholders' funds
(6,403)
(9,135)
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 June 2025 and were signed on its behalf by
MJ White Director Company Registration No. 02759139
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The Garage Computer Company Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
The Garage Computer Company Limited is a private company, limited by shares, registered in England and Wales, registration number 02759139. The registered office is The Old Surgery, 48 High Street, Chalgrove, Oxfordshire, OX44 7SS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on cost
Computer equipment
25% on cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Going concern
The company liabilities exceed the companies assets. The director's loan to the company at the end of the year enables the company to continue to meet its liabilities as they fall due. The directors will continue to support the company so that it can continue to meet its liabilities as they fall due.
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The Garage Computer Company Limited Notes to the Accounts for the year ended 31 October 2024
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2023
768 
11,509 
12,277 
Additions
- 
27 
27 
At 31 October 2024
768 
11,536 
12,304 
Depreciation
At 1 November 2023
761 
11,477 
12,238 
Charge for the year
3 
22 
25 
At 31 October 2024
764 
11,499 
12,263 
Net book value
At 31 October 2024
4 
37 
41 
At 31 October 2023
7 
32 
39 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
978 
773 
Accrued income and prepayments
270 
270 
Other debtors
2 
2 
1,250 
1,045 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
35 
342 
Taxes and social security
668 
225 
Loans from directors
5,359 
4,941 
Accruals
4,801 
1,170 
Deferred income
- 
4,138 
10,863 
10,816 
7
Transactions with related parties
Other creditors includes a loan of £5,358 (2023 - £4,941) from Mr M J White, the director of the company. The loan is interest free and repayable upon demand.
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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