IRIS Accounts Production v25.1.3.33 01362185 Board of Directors 1.11.23 31.10.24 31.10.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh013621852023-10-31013621852024-10-31013621852023-11-012024-10-31013621852022-10-31013621852022-11-012023-10-31013621852023-10-3101362185ns15:EnglandWales2023-11-012024-10-3101362185ns14:PoundSterling2023-11-012024-10-3101362185ns10:Director12023-11-012024-10-3101362185ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3101362185ns10:SmallEntities2023-11-012024-10-3101362185ns10:AuditExemptWithAccountantsReport2023-11-012024-10-3101362185ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3101362185ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3101362185ns10:FullAccounts2023-11-012024-10-3101362185ns10:Director22023-11-012024-10-3101362185ns10:RegisteredOffice2023-11-012024-10-3101362185ns5:CurrentFinancialInstruments2024-10-3101362185ns5:CurrentFinancialInstruments2023-10-3101362185ns5:ShareCapital2024-10-3101362185ns5:ShareCapital2023-10-3101362185ns5:RetainedEarningsAccumulatedLosses2024-10-3101362185ns5:RetainedEarningsAccumulatedLosses2023-10-3101362185ns5:PlantMachinery2023-11-012024-10-3101362185ns5:PlantMachinery2023-10-3101362185ns5:PlantMachinery2024-10-3101362185ns5:PlantMachinery2023-10-31
REGISTERED NUMBER: 01362185 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

POVEY'S GARAGE LTD

POVEY'S GARAGE LTD (REGISTERED NUMBER: 01362185)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4

Chartered certified accountants' report 6

POVEY'S GARAGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: J Povey
W R Povey





REGISTERED OFFICE: Penygroes
Caernarfon
Gwynedd
LL54 6DA





REGISTERED NUMBER: 01362185 (England and Wales)





ACCOUNTANTS: Fraser Wood Limited
Chartered Certified Accountants
2 Llys Onnen
Ffordd Y Llyn
Parc Menai
Bangor
Gwynedd
LL57 4DF

POVEY'S GARAGE LTD (REGISTERED NUMBER: 01362185)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 46,664 44,559

CURRENT ASSETS
Stocks 12,000 12,000
Cash at bank and in hand 13,556 15,443
25,556 27,443
CREDITORS
Amounts falling due within one year 5 (99,277 ) (111,968 )
NET CURRENT LIABILITIES (73,721 ) (84,525 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(27,057

)

(39,966

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (27,157 ) (40,066 )
SHAREHOLDERS' FUNDS (27,057 ) (39,966 )

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.

POVEY'S GARAGE LTD (REGISTERED NUMBER: 01362185)

BALANCE SHEET - continued
31 OCTOBER 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 29 May 2025 and were signed on its behalf by:





J Povey - Director


POVEY'S GARAGE LTD (REGISTERED NUMBER: 01362185)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Povey's Garage Ltd 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 amounts receivable for motor repairs and used car sales, net of value added tax.

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 etc - 25% on reducing balance, 15% on reducing balance and 2% on cost

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

POVEY'S GARAGE LTD (REGISTERED NUMBER: 01362185)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 118,994
Additions 6,038
Disposals (4,000 )
At 31 October 2024 121,032
DEPRECIATION
At 1 November 2023 74,435
Charge for year 3,924
Eliminated on disposal (3,991 )
At 31 October 2024 74,368
NET BOOK VALUE
At 31 October 2024 46,664
At 31 October 2023 44,559

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 15,983 13,402
Taxation and social security 2,760 2,529
Other creditors 80,534 96,037
99,277 111,968

6. TRANSACTIONS WITH DIRECTORS

The directors loans £77,615 ( 31.10.23 - £94,037 ) are included in creditors falling due within one year.

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Povey and R Povey, directors and equal shareholders.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
POVEY'S GARAGE LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 we have prepared for your approval the accounts of Povey's Garage Ltd for the year ended 31 October 2024 from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.






Fraser Wood Limited
Chartered Certified Accountants
2 Llys Onnen
Ffordd Y Llyn
Parc Menai
Bangor
Gwynedd
LL57 4DF


29 May 2025