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Registration number: 06979166

Shentons Garage Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Shentons Garage Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Shentons Garage Limited

Company Information

Directors

Mr S M Shenton

Mrs M Shenton

Mr T Shenton

Mr N R Ellis

Mrs C F Shenton

Company secretary

Mrs C F Shenton

Registered office

51 St John Street
Ashbourne
Derbyshire
DE6 1GP

Accountants

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

Shentons Garage Limited

(Registration number: 06979166)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

586,874

523,071

Current assets

 

Stocks

6,992

6,522

Debtors

5

39,412

22,648

Cash at bank and in hand

 

45,223

102,387

 

91,627

131,557

Creditors: Amounts falling due within one year

6

(311,051)

(344,054)

Net current liabilities

 

(219,424)

(212,497)

Total assets less current liabilities

 

367,450

310,574

Creditors: Amounts falling due after more than one year

6

(165,230)

(148,501)

Provisions for liabilities

(131,915)

(123,244)

Net assets

 

70,305

38,829

Capital and reserves

 

Called up share capital

100

100

Retained earnings

70,205

38,729

Shareholders' funds

 

70,305

38,829

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Shentons Garage Limited

(Registration number: 06979166)
Balance Sheet as at 31 March 2025 (continued)

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

Approved and authorised by the Board on 23 June 2025 and signed on its behalf by:
 

.........................................
Mrs C F Shenton
Company secretary and director

   
     
 

Shentons Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital incorporated in England and Wales. registration number: 06979166.

The address of its registered office is:
51 St John Street
Ashbourne
Derbyshire
DE6 1GP
England

These financial statements were authorised for issue by the Board on 23 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Shentons Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% reducing balance basis

Plant and machinery

33% straight line basis

Land and buildings

10% straight line basis

Motor vehicles

25% reducing balance basis

 

Shentons Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Shentons Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2024 - 10).

 

Shentons Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2024

25,542

8,100

705,772

739,414

Additions

-

23,701

143,047

166,748

Disposals

-

-

(37,416)

(37,416)

At 31 March 2025

25,542

31,801

811,403

868,746

Depreciation

At 1 April 2024

14,072

1,753

200,518

216,343

Charge for the year

1,147

2,580

64,758

68,485

Eliminated on disposal

-

-

(2,956)

(2,956)

At 31 March 2025

15,219

4,333

262,320

281,872

Carrying amount

At 31 March 2025

10,323

27,468

549,083

586,874

At 31 March 2024

11,470

6,347

505,254

523,071

Included within the net book value of land and buildings above is £10,323 (2024 - £11,470) in respect of freehold land and buildings.
 

5

Debtors

Current

2025
£

2024
£

Trade debtors

38,559

21,977

Prepayments

853

671

 

39,412

22,648

 

Shentons Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

7

56,496

37,631

Trade creditors

 

42,337

86,000

Taxation and social security

 

51,970

59,385

Accruals and deferred income

 

8,166

8,139

Other creditors

 

152,082

152,899

 

311,051

344,054

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured on the assets to which they relate, amounting to £46,108 (2024 - £27,564) and a Coronavirus Business Interruption Loan which is secured by the Government amounting to £10,388 (2024 - £10,068)

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

7

165,230

148,501

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured on the assets to which they relate, amounting to £162,581 (2024 - £135,464) and a Coronavirus Business Interruption Loan which is secured by the Government amounting to £2,648 (2024 - £13,036)

 

Shentons Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

7

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Hire purchase contracts

46,108

27,564

Other borrowings

10,388

10,067

56,496

37,631

Non-current loans and borrowings

2025
£

2024
£

Hire purchase contracts

162,581

135,464

Other borrowings

2,649

13,037

165,230

148,501

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2024 - £Nil).