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Registered number: 00804507
Ugborough Garages Limited
Unaudited Financial Statements
For The Year Ended 31 May 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00804507
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 87,886 92,225
87,886 92,225
CURRENT ASSETS
Stocks 5 13,848 12,970
Debtors 6 20,140 32,686
Cash at bank and in hand 137,198 176,858
171,186 222,514
Creditors: Amounts Falling Due Within One Year 7 (69,566 ) (80,685 )
NET CURRENT ASSETS (LIABILITIES) 101,620 141,829
TOTAL ASSETS LESS CURRENT LIABILITIES 189,506 234,054
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,765 ) (6,970 )
NET ASSETS 182,741 227,084
CAPITAL AND RESERVES
Called up share capital 8 55 55
Fair value reserve 9 44,355 45,849
Profit and Loss Account 138,331 181,180
SHAREHOLDERS' FUNDS 182,741 227,084
Page 1
Page 2
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 A J Lugger
Director
8 October 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ugborough Garages Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00804507 . The registered office is 6 Houndiscombe Road, Plymouth, Devon, PL4 6HH.
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 comprises the fair value of the consideration received for the provision of motor repair services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.
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 2% straight line
Leasehold No depreciation
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.4. Stocks and Work in Progress
Stock is stated at the lower of costs incurred, and estimated selling price, of items used in the servicing and repairs of motor vehicles. Stock is valued on a first in first out basis.
2.5. 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: 8 (2024: 9)
8 9
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 June 2024 125,922 150,227 50,297 50,398 376,844
Additions - 1,806 3,900 7,046 12,752
Disposals - (92,317 ) (6,793 ) (38,055 ) (137,165 )
As at 31 May 2025 125,922 59,716 47,404 19,389 252,431
Depreciation
As at 1 June 2024 77,511 125,365 40,270 41,473 284,619
Provided during the period 2,169 4,936 3,393 2,072 12,570
Disposals - (90,316 ) (6,434 ) (35,894 ) (132,644 )
As at 31 May 2025 79,680 39,985 37,229 7,651 164,545
Net Book Value
As at 31 May 2025 46,242 19,731 10,175 11,738 87,886
As at 1 June 2024 48,411 24,862 10,027 8,925 92,225
5. Stocks
2025 2024
£ £
Stock 13,848 12,970
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 9,696 13,478
Other debtors 10,444 19,208
20,140 32,686
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 19,661 50,344
Other creditors 38,825 21,790
Taxation and social security 11,080 8,551
69,566 80,685
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 55 55
Page 4
Page 5
9. Reserves
Fair Value Reserve
£
As at 1 June 2024 45,849
Transfer to profit and loss (1,494 )
As at 31 May 2025 44,355
Page 5