MAREHAY GARAGE SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I J Dawes

Mrs H J Dawes

REGISTERED OFFICE:

300 Derby Road

Marehay

Ripley

Derbyshire

DE5 8JN

REGISTERED NUMBER:

09981348 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

47,641

19,534

47,641

19,534

CURRENT ASSETS

Stocks

32,011

37,202

Debtors

6

60,362

63,773

Cash at bank

3,652

7,195

96,025

108,170

CREDITORS

Amounts falling due within one year

7

168,019

150,023

NET CURRENT LIABILITIES

(71,994

)

(41,853

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(24,353

)

(22,319

)

CREDITORS

Amounts falling due after more than one year

8

51,049

41,595

NET LIABILITIES

(75,402

)

(63,914

)

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

(75,502

)

(64,014

)

SHAREHOLDERS' FUNDS

(75,402

)

(63,914

)

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 directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2025 and were signed on its behalf by:

I J Dawes - Director

1.	STATUTORY INFORMATION

Marehay Garage Services Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

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

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

15% on reducing balance

Computer equipment

-

33% 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 Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

The directors have confirmed that they will continue to support the company, when necessary, as they have done so in the past and they have the financial means to do so. The directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. The company therefore continues to adopt the going concern policy in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

and 31 December 2024

10,364

AMORTISATION

At 1 January 2024

and 31 December 2024

10,364

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

16,260

7,063

16,275

9,168

48,766

Additions

-

-

36,636

-

36,636

Disposals

-

-

(675

)

-

(675

)

At 31 December 2024

16,260

7,063

52,236

9,168

84,727

DEPRECIATION

At 1 January 2024

13,146

3,637

3,281

9,168

29,232

Charge for year

1,119

1,226

6,184

-

8,529

Eliminated on disposal

-

-

(675

)

-

(675

)

At 31 December 2024

14,265

4,863

8,790

9,168

37,086

NET BOOK VALUE

At 31 December 2024

1,995

2,200

43,446

-

47,641

At 31 December 2023

3,114

3,426

12,994

-

19,534

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

16,530

18,122

Other debtors

43,832

45,651

60,362

63,773

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

6,781

12,314

Hire purchase contracts (see note 9)

4,736

-

Trade creditors

46,894

59,039

Taxation and social security

31,107

23,317

Other creditors

78,501

55,353

168,019

150,023

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

29,951

41,595

Hire purchase contracts (see note 9)

21,098

-

51,049

41,595

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

4,736

-

Between one and five years

21,098

-

25,834

-

Non-cancellable

operating leases

2024

2023

£

£

Within one year

57,426

58,070

Between one and five years

51,049

41,595

108,475

99,665

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

25,834

-

Hire Purchase contracts are secured by way of personal guarantees given by the directors.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

75

Ordinary A

£1

25

25

25

Ordinary B

£1

75

75

100

100

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Directors loans opened this year owing the company £42,026, with advances provided during of the year of £3,302, credits of £6,941 with the closing balance being £39,294 owed to the company by the directors.

Interest is charged on loans to directors at HMRC approved rates. The amount charged during the year was £907.