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REGISTERED NUMBER: 04549226










Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Alan Smith Garages Limited

Alan Smith Garages Limited (Registered number: 04549226)






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




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Alan Smith Garages Limited (Registered number: 04549226)

Abridged Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 139,793 136,469
139,793 136,469

CURRENT ASSETS
Stocks 4,000 2,000
Debtors 17,890 21,270
Cash at bank 108,912 126,535
130,802 149,805
CREDITORS
Amounts falling due within one year 45,927 59,813
NET CURRENT ASSETS 84,875 89,992
TOTAL ASSETS LESS CURRENT
LIABILITIES

224,668

226,461

CREDITORS
Amounts falling due after more than
one year

(51,054

)

(58,693

)

PROVISIONS FOR LIABILITIES (3,953 ) (2,169 )
NET ASSETS 169,661 165,599

Alan Smith Garages Limited (Registered number: 04549226)

Abridged Balance Sheet - continued
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 169,561 165,499
SHAREHOLDERS' FUNDS 169,661 165,599

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:





Mrs A P Bennett - Director


Alan Smith Garages Limited (Registered number: 04549226)

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

1. STATUTORY INFORMATION

Alan Smith Garages Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address are as below:

Registered number: 04549226

Registered office: Manchester Street
Derby
Derbyshire
DE22 3GA

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue from the sale of services is recognised in the period in which the services are provided when the amount of revenue can be reliably measured, it is probable that the Company will receive the consideration due and the costs associated with the transaction can be measured reliably.

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.
Land and buildings - not provided
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% 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.


Alan Smith Garages Limited (Registered number: 04549226)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Financial assets
Short term debtors are measured at transaction price, less any impairment.

Financial liabilities
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Alan Smith Garages Limited (Registered number: 04549226)

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

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023
and 31 October 2024 7,000
AMORTISATION
At 1 November 2023
and 31 October 2024 7,000
NET BOOK VALUE

At 31 October 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 162,562
Additions 5,179
At 31 October 2024 167,741
DEPRECIATION
At 1 November 2023 26,093
Charge for year 1,855
At 31 October 2024 27,948
NET BOOK VALUE
At 31 October 2024 139,793
At 31 October 2023 136,469

6. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank loans 58,091 65,730

Bank loan is secured by way of a fixed charge over the freehold property and other assets of the company.