Registration number: 03410272

Maple Garage Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Maple Garage Limited

Company Information

Directors

Mrs J Burton Mrs J Burton Mr JD Burton Mr GS Burton Mr P J Burton Mr J M Wood

Company secretary

Mr GS Burton

Registered office

Aldbrough Road Flinton Hull East Yorkshire HU11 4NA

Maple Garage Limited

(Registration number: 03410272)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	436,977	464,749
		436,977	464,749
Current assets
Stocks	5	5,434,631	4,335,185
Debtors	6	434,809	197,294
Cash at bank and in hand		2,899	11,597
		5,872,339	4,544,076
Creditors: Amounts falling due within one year	7	(5,083,328)	(3,503,460)
Net current assets		789,011	1,040,616
Total assets less current liabilities		1,225,988	1,505,365
Provisions for liabilities		(8,615)	(47,002)
Net assets		1,217,373	1,458,363
Capital and reserves
Called up share capital		8,070	8,070
Retained earnings		1,209,303	1,450,293
Shareholders' funds		1,217,373	1,458,363

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Maple Garage Limited

(Registration number: 03410272)
Balance Sheet as at 31 December 2024

Approved and authorised for issue by the Board on 29 September 2025 and signed on its behalf by:
 

.........................................

Mr JD Burton

Director

Maple Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Aldbrough Road
Flinton
Hull
East Yorkshire
HU11 4NA

These financial statements were authorised for issue by the Board on 29 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Maple Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	Land is not depreciated
Short leasehold	20 years straight line
Fixtures and fittings	15% reducing balance
Motor vehicles	25% reducing balance
Plant and machinery	15% reducing balance
Computer equipment	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Maple Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Maple Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2023 - 30).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	552,068	29,487	156,796	276,747	1,015,098
Additions	2,408	2,500	-	32,726	37,634
Disposals	-	(6,261)	-	(2,600)	(8,861)
At 31 December 2024	554,476	25,726	156,796	306,873	1,043,871
Depreciation
At 1 January 2024	294,253	25,307	62,983	167,806	550,349
Charge for the year	19,888	1,568	23,454	19,576	64,486
Eliminated on disposal	-	(5,760)	-	(2,181)	(7,941)
At 31 December 2024	314,141	21,115	86,437	185,201	606,894
Carrying amount
At 31 December 2024	240,335	4,611	70,359	121,672	436,977
At 31 December 2023	257,815	4,180	93,813	108,941	464,749

Included within the net book value of land and buildings above is £113,466 (2023 - £113,466) in respect of freehold land and buildings and £126,869 (2023 - £144,349) in respect of short leasehold land and buildings.
 

Maple Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Stocks

	2024 £	2023 £
Other inventories	5,434,631	4,335,185

6

Debtors

Current	2024 £	2023 £
Trade debtors	274,084	125,725
Prepayments	54,424	67,569
Other debtors	106,301	4,000
	434,809	197,294

Maple Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	789,094	751,653
Trade creditors		4,026,526	2,503,729
Taxation and social security		132,234	55,617
Accruals and deferred income		48,636	108,434
Other creditors		86,838	84,027
		5,083,328	3,503,460

8	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Bank overdrafts	105,203	42,197
Hire purchase contracts	-	8,916
Other borrowings	683,891	700,540
	789,094	751,653

Maple Garage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9	Related party transactions

Transactions with directors

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
Mr P J Burton
Director's loan account	-	9,576	(9,576)	-
Mr J M Wood
Director's loan account	-	6,241	(4,946)	1,295

2023	At 1 January 2023 £	Advances to director £	Repayments by director £	At 31 December 2023 £
Mr P J Burton
Director's loan account	-	3,461	(3,461)	-
Mr J M Wood
Director's loan account	-	4,606	(4,606)	-

10	Parent and ultimate parent undertaking

The ultimate controlling party is the directors.