Registered number
08977875
Yaxley Garage Rentals Ltd
Unaudited Filleted Accounts
30 April 2025
Yaxley Garage Rentals Ltd
Registered number: 08977875
Balance Sheet
as at 30 April 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 165,167 165,365
Current assets
Debtors 4 710 527
Cash at bank and in hand 242 122
952 649
Creditors: amounts falling due within one year 5 (95,953) (99,388)
Net current liabilities (95,001) (98,739)
Total assets less current liabilities 70,166 66,626
Provision for deferred tax (6,100) (6,287)
Net assets 64,066 60,339
Capital and reserves
Called up share capital 2 2
Revaluation reserve 6 26,005 26,802
Profit and loss account 38,059 33,535
Shareholders' funds 64,066 60,339
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J W Yaxley
Director
Approved by the board on 4 August 2025
Yaxley Garage Rentals Ltd
Notes to the Accounts
for the year ended 30 April 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value of rentals charged to tenants.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2024 165,000 2,305 167,305
Additions 13,850 - 13,850
Surplus on revaluation 1,150 - 1,150
Disposals (15,000) - (15,000)
At 30 April 2025 165,000 2,305 167,305
Depreciation
At 1 May 2024 - 1,940 1,940
Charge for the year - 198 198
At 30 April 2025 - 2,138 2,138
Net book value
At 30 April 2025 165,000 167 165,167
At 30 April 2024 165,000 365 165,365
Freehold land and buildings: 2025 2024
£ £
Historical cost 132,894 131,910
Cumulative depreciation based on historical cost - -
132,894 131,910
The directors have placed a valuation of £15,000 on each of the eleven garages owned by the company at the balance sheet date, compared with similar properties in the local area. These valuations have been included in the figures above.
4 Debtors 2025 2024
£ £
Trade debtors 710 527
5 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs 1,571 1,182
Other creditors 94,382 98,206
95,953 99,388
6 Revaluation reserve 2025 2024
£ £
At 1 May 2024 26,802 25,881
(Loss)/gain on revaluation of land and buildings (984) 1,137
Deferred taxation arising on the revaluation of land and buildings 187 (216)
At 30 April 2025 26,005 26,802
7 Other information
Yaxley Garage Rentals Ltd is a private company limited by shares and incorporated in England. Its registered office is:
30 Deering Close
St. Marys Island
Chatham
Kent
ME4 3SX
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