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Registered number: 02101047
Tynlon Garage Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Butterworths
Chartered Accountants
Windsor House
26 Mostyn Avenue
Llandudno
Conwy
LL30 1YY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02101047
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,126,542 2,164,797
2,126,542 2,164,797
CURRENT ASSETS
Stocks 5 1,990,088 2,572,758
Debtors 6 339,802 231,428
Cash at bank and in hand 879 -
2,330,769 2,804,186
Creditors: Amounts Falling Due Within One Year 7 (2,488,346 ) (2,955,797 )
NET CURRENT ASSETS (LIABILITIES) (157,577 ) (151,611 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,968,965 2,013,186
Creditors: Amounts Falling Due After More Than One Year 8 (569,826 ) (636,756 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (37,010 ) (45,347 )
NET ASSETS 1,362,129 1,331,083
CAPITAL AND RESERVES
Called up share capital 10 395,500 395,500
Share premium account 49,650 49,650
Revaluation reserve 11 145,790 145,790
Profit and Loss Account 771,189 740,143
SHAREHOLDERS' FUNDS 1,362,129 1,331,083
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Barry Baynham
Director
30/09/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tynlon Garage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02101047 . The registered office is Tynlon Garage, Holyhead Road, Llanfairpwll, Anglesey, LL61 5SX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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 is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Non Provided - annual impairment review
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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Page 4
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 39 (2023: 42)
39 42
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2024 1,807,955 831,835 129,500 611,050 3,380,340
Additions 5,621 7,361 - 4,149 17,131
As at 31 December 2024 1,813,576 839,196 129,500 615,199 3,397,471
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 January 2024 - 714,311 17,635 483,597 1,215,543
Provided during the period - 20,882 17,628 16,876 55,386
As at 31 December 2024 - 735,193 35,263 500,473 1,270,929
Net Book Value
As at 31 December 2024 1,813,576 104,003 94,237 114,726 2,126,542
As at 1 January 2024 1,807,955 117,524 111,865 127,453 2,164,797
No depreciation is provided on the freehold properties as their estimated residual value equates to the balance sheet value. The directors undertake an annual impairment review to ensure that the carrying values of the freehold properties are fairly stated. 
5. Stocks
2024 2023
£ £
Stock 1,990,088 2,572,758
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 208,669 128,737
Other debtors 131,133 102,691
339,802 231,428
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,941 3,050
Trade creditors 2,067,477 2,484,431
Bank loans and overdrafts 352,246 327,341
Other creditors 11,314 47,939
Taxation and social security 54,368 93,036
2,488,346 2,955,797
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 77,574 80,406
Bank loans 492,252 556,350
569,826 636,756
Page 5
Page 6
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,941 3,050
Later than one year and not later than five years 77,574 80,406
80,515 83,456
80,515 83,456
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 395,500 395,500
11. Reserves
Revaluation Reserve
£
As at 1 January 2024 145,790
As at 31 December 2024 145,790
Page 6