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REGISTERED NUMBER: 05572020 (England and Wales)















CROSSLYN GARAGE LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






CROSSLYN GARAGE LTD (REGISTERED NUMBER: 05572020)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CROSSLYN GARAGE LTD

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2024







DIRECTOR: Mrs G W Davies





SECRETARY: Mrs G W Davies





REGISTERED OFFICE: Broyan House
Priory Street
Cardigan
Ceredigion
SA43 1BZ





REGISTERED NUMBER: 05572020 (England and Wales)





ACCOUNTANTS: D M B Davies Limited
Broyan House
Priory Street
Cardigan
Ceredigion
SA43 1BZ

CROSSLYN GARAGE LTD (REGISTERED NUMBER: 05572020)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 126,788 117,434
126,788 117,434

CURRENT ASSETS
Stocks 76,441 78,238
Debtors 6 19,283 38,002
Cash at bank and in hand 12,641 18,311
108,365 134,551
CREDITORS
Amounts falling due within one year 7 149,657 167,812
NET CURRENT LIABILITIES (41,292 ) (33,261 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

85,496

84,173

CREDITORS
Amounts falling due after more than one
year

8

(4,015

)

(11,165

)

PROVISIONS FOR LIABILITIES (3,263 ) (3,614 )
NET ASSETS 78,218 69,394

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 78,216 69,392
SHAREHOLDERS' FUNDS 78,218 69,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

CROSSLYN GARAGE LTD (REGISTERED NUMBER: 05572020)

BALANCE SHEET - continued
31 DECEMBER 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 director and authorised for issue on 6 June 2025 and were signed by:





Mrs G W Davies - Director


CROSSLYN GARAGE LTD (REGISTERED NUMBER: 05572020)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2024


1. STATUTORY INFORMATION

Crosslyn 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 4% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

CROSSLYN GARAGE LTD (REGISTERED NUMBER: 05572020)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

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 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 90,000
AMORTISATION
At 1 January 2024
and 31 December 2024 90,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2024 98,957 84,955 15,500 199,412
Additions 18,718 - - 18,718
At 31 December 2024 117,675 84,955 15,500 218,130
DEPRECIATION
At 1 January 2024 9,194 62,346 10,438 81,978
Charge for year 4,707 3,392 1,265 9,364
At 31 December 2024 13,901 65,738 11,703 91,342
NET BOOK VALUE
At 31 December 2024 103,774 19,217 3,797 126,788
At 31 December 2023 89,763 22,609 5,062 117,434

CROSSLYN GARAGE LTD (REGISTERED NUMBER: 05572020)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,714 35,570
Other debtors 1,569 2,432
19,283 38,002

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 35,797 46,605
Hire purchase contracts 7,149 7,354
Trade creditors 61,961 69,404
Taxation and social security 43,011 42,454
Other creditors 1,739 1,995
149,657 167,812

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 4,015 11,165

9. RELATED PARTY DISCLOSURES

The directors received rent of £12,000 from the company during the year.

10. ULTIMATE CONTROLLING PARTY

Ultimate control of the Company is exercised by the directors equally.