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COMPANY REGISTRATION NUMBER: 04768304
Foxberry Garage Ltd
Filleted Unaudited Abridged Financial Statements
31 August 2024
Foxberry Garage Ltd
Abridged Financial Statements
Year ended 31 August 2024
Contents
Page
Officers and professional advisers
1
Abridged statement of financial position
2
Notes to the abridged financial statements
4
Foxberry Garage Ltd
Officers and Professional Advisers
The board of directors
Mr P Eley
Mr P Birch
Mr C Clark
Mr E Brown
Registered office
Foxberry Garage
79 Foxberry Road
Brockley
London
SE4 2SS
Accountants
R. E. Jones & Co.
Chartered accountants
132 Burnt Ash Road
Lee
London
SE12 8PU
Bankers
Barclays Bank plc
93 Lewisham High Street
Lewisham
London
SE13 6BB
Foxberry Garage Ltd
Abridged Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
82,262
84,040
Current assets
Stocks
72,000
69,000
Debtors
80,112
55,756
Cash at bank and in hand
228,860
185,703
----------
----------
380,972
310,459
Creditors: amounts falling due within one year
336,628
292,751
----------
----------
Net current assets
44,344
17,708
----------
----------
Total assets less current liabilities
126,606
101,748
----------
----------
Capital and reserves
Called up share capital
200
200
Profit and loss account
126,406
101,548
----------
----------
Shareholders funds
126,606
101,748
----------
----------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 August 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 abridged financial statements for the year 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Foxberry Garage Ltd
Abridged Statement of Financial Position (continued)
31 August 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 19 August 2025 , and are signed on behalf of the board by:
Mr P Eley
Mr P Birch
Director
Director
Company registration number: 04768304
Foxberry Garage Ltd
Notes to the Abridged Financial Statements
Year ended 31 August 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 Foxberry Garage, 79 Foxberry Road, Brockley, London, SE4 2SS.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may arise.
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
-
10% 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.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
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 stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2023: 14 ).
5. Intangible assets
£
Cost
At 1 September 2023 and 31 August 2024
150,000
----------
Amortisation
At 1 September 2023 and 31 August 2024
150,000
----------
Carrying amount
At 31 August 2024
----------
At 31 August 2023
----------
6. Tangible assets
£
Cost
At 1 September 2023
128,467
Additions
17,745
Disposals
( 13,398)
----------
At 31 August 2024
132,814
----------
Depreciation
At 1 September 2023
44,427
Charge for the year
11,986
Disposals
( 5,861)
----------
At 31 August 2024
50,552
----------
Carrying amount
At 31 August 2024
82,262
----------
At 31 August 2023
84,040
----------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr P Eley
( 8,143)
( 2,678)
( 10,821)
Mr P Birch
( 12,317)
( 2,069)
( 14,386)
Mr C Clark
( 53,000)
( 2,665)
( 55,665)
Mr E Brown
( 53,000)
( 2,665)
( 55,665)
----------
---------
----------
( 126,460)
( 10,077)
( 136,537)
----------
---------
----------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr P Eley
( 953)
( 7,190)
( 8,143)
Mr P Birch
( 5,127)
( 7,190)
( 12,317)
Mr C Clark
( 53,000)
( 53,000)
Mr E Brown
( 53,000)
( 53,000)
----------
---------
----------
( 112,080)
( 14,380)
( 126,460)
----------
---------
----------
8. Related party transactions
Included in rent, rates and water is an amount of £21,200 (2023 - £21,600) in respect of rent paid to the director Mr P Eley . Also included in rent, rates and water is an amount of £21,200 (2023 - £21,600) in respect of rent paid to the director Mr P Birch .