GROVE HILL GARAGE LIMITED


Directors	WRIGHT, David John
	WRIGHT, Nora
	WRIGHT, Philip Ian


Company Secretary	NICOL, Catherine Jane


Registered Address	Grove Hill Garage Station Road
	Bentham
	Lancaster
	LA2 7LH


Registered Number	06187501 (England and Wales)

Statement of Financial Position
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		-		257
Tangible assets	4		162,660		184,365
			162,660		184,622
Current assets
Stocks	5	68,210		73,425
Debtors	6	46,599		68,799
Cash at bank and on hand		6,482		38,740
		121,291		180,964
Creditors amounts falling due within one year	7	(172,375)		(173,607)
Net current assets (liabilities)			(51,084)		7,357
Total assets less current liabilities			111,576		191,979
Provisions for liabilities	8		(15,100)		(15,000)
Net assets			96,476		176,979
Capital and reserves
Called up share capital			8		8
Profit and loss account			96,468		176,971
Shareholders' funds			96,476		176,979

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 18 September 2025, and are signed on its behalf by:

WRIGHT, Philip Ian
Director
Registered Company No. 06187501

GROVE HILL GARAGE LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation.

Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	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
	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.

Deferred tax

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.

	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. Franchise are being amortised evenly over their estimated useful life of five years.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Land and buildings	5
	Plant and machinery	15
	Vehicles	25

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement

2.	Average number of employees


		2025		2024
	Average number of employees during the year	11		12

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 24	15,000	15,000
At 31 March 25	15,000	15,000
Amortisation and impairment
At 01 April 24	14,743	14,743
Charge for year	257	257
At 31 March 25	15,000	15,000
Net book value
At 31 March 25	-	-
At 31 March 24	257	257

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 April 24	126,274	194,954	135,712	456,940
At 31 March 25	126,274	194,954	135,712	456,940
Depreciation and impairment
At 01 April 24	39,590	146,678	86,307	272,575
Charge for year	2,112	7,242	12,351	21,705
At 31 March 25	41,702	153,920	98,658	294,280
Net book value
At 31 March 25	84,572	41,034	37,054	162,660
At 31 March 24	86,684	48,276	49,405	184,365

5.	Stocks

	2025	2024
	£	£
Other stocks	68,210	73,425
Total	68,210	73,425

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	38,623	68,799
Other debtors	7,976	-
Total	46,599	68,799


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	49,252	45,196
Bank borrowings and overdrafts	30,339	-
Amounts owed to related parties	74,938	97,263
Taxation and social security	14,592	27,357
Accrued liabilities and deferred income	3,254	3,791
Total	172,375	173,607


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	15,100	15,000
Total	15,100	15,000