Saffrons Garage Limited

(Registration number: 07675164)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	33,792	42,866
Current assets
Debtors	5	1,686	31,449
Cash at bank and in hand		21,056	56,963
		22,742	88,412
Creditors: Amounts falling due within one year	6	(1,449)	(12,115)
Net current assets		21,293	76,297
Total assets less current liabilities		55,085	119,163
Provisions for liabilities		(6,420)	(8,145)
Net assets		48,665	111,018
Capital and reserves
Called up share capital	7	100	100
Retained earnings		48,565	110,918
Shareholders' funds		48,665	111,018

For the financial period 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 period 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.

Saffrons Garage Limited

(Registration number: 07675164)
Balance Sheet as at 31 December 2024
(continued)

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... Mrs S Collin Director

Saffrons Garage Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 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:
Norton Court
Marden
Hereford
Hereford
HR1 3HA
England

These financial statements were authorised for issue by the Board on 30 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

The financial statements have been prepared in accordance with FRS 102, section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

The 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Saffrons Garage Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
(continued)

2	Accounting policies (continued)

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.

Deferred tax is recognised on all 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. 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 substantially enacted by the end of the reporting period.

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

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates:

Asset class	Depreciation method and rate
Plant and machinery	20% of cost per annum
Computer equipment	25% of cost per annum

Saffrons Garage Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
(continued)

2	Accounting policies (continued)

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.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 6).

Saffrons Garage Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
(continued)

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 July 2023	45,295	45,295
At 31 December 2024	45,295	45,295
Depreciation
At 1 July 2023	2,429	2,429
Charge for the period	9,074	9,074
At 31 December 2024	11,503	11,503
Carrying amount
At 31 December 2024	33,792	33,792
At 30 June 2023	42,866	42,866

Saffrons Garage Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
(continued)

5

debtors

	2024 £	2023 £
Trade debtors	-	1,771
Prepayments	137	979
Other debtors	1,549	28,699
	1,686	31,449

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	-	(153)
Taxation and social security	-	9,472
Accruals and deferred income	1,376	2,796
Other creditors	73	-
	1,449	12,115

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100