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Registered number: 06479013
Forge Garage (Bolton Abbey) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06479013
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 26,672 34,292
Tangible Assets 5 25,208 15,624
Investments 6 475,000 475,000
526,880 524,916
CURRENT ASSETS
Debtors 7 30,726 22,476
Cash at bank and in hand 579,764 465,443
610,490 487,919
Creditors: Amounts Falling Due Within One Year 8 (140,848 ) (142,211 )
NET CURRENT ASSETS (LIABILITIES) 469,642 345,708
TOTAL ASSETS LESS CURRENT LIABILITIES 996,522 870,624
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,944 ) (5,213 )
NET ASSETS 986,578 865,411
CAPITAL AND RESERVES
Called up share capital 2 2
Profit and Loss Account 986,576 865,409
SHAREHOLDERS' FUNDS 986,578 865,411
Page 1
Page 2
For the year ending 31 December 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J A Bush
Director
11th June 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Forge Garage (Bolton Abbey) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06479013 . The registered office is Forge Garage, Bolton Abbey, Skipton, North Yorkshire, BD23 6HB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied
and services rendered, net of discounts and Value Added Tax.
2.3. Intangible Fixed Assets and Amortisation - 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
2.4. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated
depreciation and impairment losses.
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 & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% reducing balance
Page 3
Page 4
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
2.5. 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.
2.6. Pensions
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 152,402
As at 31 December 2024 152,402
Amortisation
As at 1 January 2024 118,110
Provided during the period 7,620
As at 31 December 2024 125,730
Net Book Value
As at 31 December 2024 26,672
As at 1 January 2024 34,292
Page 4
Page 5
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 65,713 16,950 4,057 28,160 114,880
Additions - 15,500 3,190 - 18,690
Disposals - (1,250 ) - - (1,250 )
As at 31 December 2024 65,713 31,200 7,247 28,160 132,320
Depreciation
As at 1 January 2024 61,468 14,130 2,488 21,170 99,256
Provided during the period 1,061 4,580 1,190 1,748 8,579
Disposals - (723 ) - - (723 )
As at 31 December 2024 62,529 17,987 3,678 22,918 107,112
Net Book Value
As at 31 December 2024 3,184 13,213 3,569 5,242 25,208
As at 1 January 2024 4,245 2,820 1,569 6,990 15,624
6. Investments
Unlisted
£
Cost
As at 1 January 2024 475,000
As at 31 December 2024 475,000
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 475,000
As at 1 January 2024 475,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 7,098 5,639
Other debtors 23,628 16,837
30,726 22,476
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,579 17,921
Other creditors 5,727 5,262
Taxation and social security 117,542 119,028
140,848 142,211
9. Ultimate Controlling Party
The company was controlled throughout the year by the directors.
Page 6