30
01/04/2024
31/12/2024
2024-12-31
false
false
false
false
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true
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true
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No description of principal activities is disclosed
2024-04-01
Sage Accounts Production 24.0 - FRS102_2024
xbrli:pure
xbrli:shares
iso4217:GBP
05318711
2024-04-01
2024-12-31
05318711
2024-12-31
05318711
2024-03-31
05318711
2023-04-01
2024-03-31
05318711
2024-03-31
05318711
2023-03-31
05318711
core:PlantMachinery
2024-04-01
2024-12-31
05318711
core:FurnitureFittingsToolsEquipment
2024-04-01
2024-12-31
05318711
core:MotorVehicles
2024-04-01
2024-12-31
05318711
core:NetGoodwill
2024-04-01
2024-12-31
05318711
bus:RegisteredOffice
2024-04-01
2024-12-31
05318711
bus:LeadAgentIfApplicable
2024-04-01
2024-12-31
05318711
bus:Director3
2024-04-01
2024-12-31
05318711
bus:Director4
2024-04-01
2024-12-31
05318711
bus:CompanySecretary1
2024-04-01
2024-12-31
05318711
core:NetGoodwill
2024-12-31
05318711
core:PlantMachinery
2024-03-31
05318711
core:FurnitureFittingsToolsEquipment
2024-03-31
05318711
core:MotorVehicles
2024-03-31
05318711
core:PlantMachinery
2024-12-31
05318711
core:FurnitureFittingsToolsEquipment
2024-12-31
05318711
core:MotorVehicles
2024-12-31
05318711
core:WithinOneYear
2024-12-31
05318711
core:WithinOneYear
2024-03-31
05318711
core:ShareCapital
2024-12-31
05318711
core:ShareCapital
2024-03-31
05318711
core:RetainedEarningsAccumulatedLosses
2024-12-31
05318711
core:RetainedEarningsAccumulatedLosses
2024-03-31
05318711
core:BetweenOneFiveYears
2024-12-31
05318711
core:BetweenOneFiveYears
2024-03-31
05318711
core:MoreThanFiveYears
2024-12-31
05318711
core:MoreThanFiveYears
2024-03-31
05318711
core:NetGoodwill
2024-03-31
05318711
core:AfterOneYear
2024-12-31
05318711
core:AfterOneYear
2024-03-31
05318711
core:PlantMachinery
2024-03-31
05318711
core:FurnitureFittingsToolsEquipment
2024-03-31
05318711
core:MotorVehicles
2024-03-31
05318711
bus:Director3
2024-03-31
05318711
bus:Director3
2023-03-31
05318711
bus:Director3
2024-03-31
05318711
bus:Director3
2023-04-01
2024-03-31
05318711
bus:SmallEntities
2024-04-01
2024-12-31
05318711
bus:AuditExemptWithAccountantsReport
2024-04-01
2024-12-31
05318711
bus:SmallCompaniesRegimeForAccounts
2024-04-01
2024-12-31
05318711
bus:PrivateLimitedCompanyLtd
2024-04-01
2024-12-31
05318711
bus:FullAccounts
2024-04-01
2024-12-31
05318711
core:LeaseholdImprovements
2024-03-31
05318711
core:LeaseholdImprovements
2024-12-31
05318711
core:LeaseholdImprovements
2024-04-01
2024-12-31
Company registration number:
05318711
Cedar Garage Limited
Unaudited filleted financial statements
31 December 2024
Cedar Garage Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Cedar Garage Limited
Directors and other information
|
|
|
|
|
|
|
Directors |
Mr K L Pearce |
|
|
Mr M Copp |
|
|
|
|
|
|
|
Secretary |
Mr K L Pearce |
|
|
|
|
|
|
|
Company number |
05318711 |
|
|
|
|
|
|
|
Registered office |
307 Tarring Road |
|
|
Worthing |
|
|
West Sussex |
|
|
BN11 5JG |
|
|
|
|
|
|
|
Business address |
307 Tarring Road |
|
|
Worthing |
|
|
West Sussex |
|
|
BN11 5JG |
|
|
|
|
|
|
|
Accountants |
Keith Bellenie & Co Ltd |
|
|
3 Cecilian Court |
|
|
Cecilian Avenue |
|
|
Worthing |
|
|
West Sussex |
|
|
BN14 8AP |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers |
Bank of Scotland |
|
|
Pentland House |
|
|
8 Lochside Avenue |
|
|
Edinburgh |
|
|
|
Cedar Garage Limited
Statement of financial position
31 December 2024
|
|
|
31/12/24 |
|
|
|
31/03/24 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
2 |
|
|
|
2 |
|
|
Tangible assets |
|
6 |
279,218 |
|
|
|
215,065 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
279,220 |
|
|
|
215,067 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
161,015 |
|
|
|
151,565 |
|
|
Debtors |
|
7 |
234,299 |
|
|
|
365,702 |
|
|
Cash at bank and in hand |
|
|
1,109,694 |
|
|
|
776,038 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
1,505,008 |
|
|
|
1,293,305 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
680,682) |
|
|
|
(
539,319) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
824,326 |
|
|
|
753,986 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
1,103,546 |
|
|
|
969,053 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
62,721) |
|
|
|
(
48,492) |
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income |
|
|
|
|
(
52,283) |
|
|
|
(
67,040) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
988,542 |
|
|
|
853,521 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
988,442 |
|
|
|
853,421 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
988,542 |
|
|
|
853,521 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 June 2025
, and are signed on behalf of the board by:
Mr K L Pearce
Director
Company registration number:
05318711
Cedar Garage Limited
Notes to the financial statements
Period ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 307 Tarring Road, Worthing, West Sussex, BN11 5JG.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historial cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration receivable for the services provided, net of discounts and VAT.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
25 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
33 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
Property improvements |
- |
Property improvements are to be written off over the period of the lease.
|
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
The company is operating an auto-enrolment pension scheme. The contributions shown in the profit and loss account reflect the contributions payable by the employer covering the trading year.The directors have a separate contributions pension scheme
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
30
(2024:
27
).
5.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2024 and 31 December 2024 |
192,999 |
192,999 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 April 2024 and 31 December 2024 |
192,997 |
192,997 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 December 2024 |
2 |
2 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2024 |
2 |
2 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Property Improvements |
Total |
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2024 |
336,319 |
86,165 |
190,044 |
85,534 |
698,062 |
|
|
Additions |
64,906 |
4,290 |
46,223 |
- |
115,419 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 31 December 2024 |
401,225 |
90,455 |
236,267 |
85,534 |
813,481 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Depreciation |
|
|
|
|
|
|
|
At 1 April 2024 |
259,902 |
58,080 |
79,481 |
85,533 |
482,996 |
|
|
Charge for the year |
19,438 |
7,869 |
23,960 |
- |
51,267 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 31 December 2024 |
279,340 |
65,949 |
103,441 |
85,533 |
534,263 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 December 2024 |
121,885 |
24,506 |
132,826 |
1 |
279,218 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 31 March 2024 |
76,417 |
28,085 |
110,563 |
1 |
215,066
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
31/12/24 |
31/03/24 |
|
|
|
£ |
£ |
|
Trade debtors |
|
15,318 |
20,235 |
|
Other debtors |
|
218,981 |
345,467 |
|
|
|
_______ |
_______ |
|
|
|
234,299 |
365,702 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The debtors above include the following amounts falling due after more than one year:
|
|
|
31/12/24 |
31/03/24 |
|
|
|
£ |
£ |
|
Other debtors |
|
101,332 |
171,407 |
|
|
|
_______ |
_______ |
|
|
|
|
|
A loan of £250,000 has been made to a company which is under the control of the directors of
Cedar Garage Limited
. The loan is being repaid with interest.
8.
Creditors: amounts falling due within one year
|
|
|
31/12/24 |
31/03/24 |
|
|
|
£ |
£ |
|
Trade creditors |
|
80,903 |
96,509 |
|
Social security and other taxes |
|
289,792 |
305,437 |
|
Other creditors |
|
309,987 |
137,373 |
|
|
|
_______ |
_______ |
|
|
|
680,682 |
539,319 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Not later than 1 year |
88,460 |
96,214 |
Later than 1 year and not later than 5 years |
198,633 |
240,011 |
Later than 5 years |
126,000 |
139,750 |
|
_______ |
_______ |
|
413,093 |
475,975 |
|
_______ |
_______ |
|
|
|
10.
Directors advances, credits and guarantees
|
During the period the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period ended 31/12/24 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr K L Pearce |
18,512 |
- |
(
18,512) |
- |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
Year ended 31/03/24 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr K L Pearce |
74,817 |
18,512 |
(
74,817) |
18,512 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
The loan is subject to interest at 2.5%. The loan is repayable on demand.