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Company Registration No. 11008586 (England and Wales)
Kilmington Cross Garage Ltd Accounts for the year ended 31 October 2024
Kilmington Cross Garage Ltd Accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
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Kilmington Cross Garage Ltd Company Information for the year ended 31 October 2024
Director
Ian Raymond Board
Company Number
11008586 (England and Wales)
Registered Office
Unit 2 and 3 Kilmington Cross Axminster Devon EX13 7RB United Kingdom
Accountants
Four Ashes Accountants Owl Cottage Stoke Abbott Beaminster Dorset DT8 3JU
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Kilmington Cross Garage Ltd Accountants' report
Accountants' report to the director of Kilmington Cross Garage Ltd (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 October 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 October 2024. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Four Ashes Accountants Owl Cottage Stoke Abbott Beaminster Dorset DT8 3JU 4 October 2025
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Kilmington Cross Garage Ltd Statement of financial position as at 31 October 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
252,543
265,166
Current assets
Inventories
5
49,000
77,000
Debtors
6
332,707
379,504
Cash at bank and in hand
67,390
34,954
449,097
491,458
Creditors: amounts falling due within one year
7
(766,668)
(839,403)
Net current liabilities
(317,571)
(347,945)
Total assets less current liabilities
(65,028)
(82,779)
Creditors: amounts falling due after more than one year
8
(6,462)
(26,540)
Net liabilities
(71,490)
(109,319)
Capital and reserves
Called up share capital
100
100
Profit and loss account
(71,590)
(109,419)
Shareholders' funds
(71,490)
(109,319)
For the year ending 31 October 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 October 2025 and were signed on its behalf by
Ian Raymond Board Director Company Registration No. 11008586
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Kilmington Cross Garage Ltd Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
Kilmington Cross Garage Ltd is a private company, limited by shares, registered in England and Wales, registration number 11008586. The registered office and principal place of business is Unit 2 and 3, Kilmington Cross, Axminster, Devon, EX13 7RB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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Kilmington Cross Garage Ltd Notes to the Accounts for the year ended 31 October 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2023
20,390
158,178
176,956
32,468
387,992
Additions
5,300
2,153
50,235
1,007
58,695
Disposals
-
(8,000)
(44,095)
-
(52,095)
At 31 October 2024
25,690
152,331
183,096
33,475
394,592
Depreciation
At 1 November 2023
-
31,455
74,170
17,201
122,826
Charge for the year
-
9,072
27,033
3,215
39,320
On disposals
-
(127)
(19,970)
-
(20,097)
At 31 October 2024
-
40,400
81,233
20,416
142,049
Net book value
At 31 October 2024
25,690
111,931
101,863
13,059
252,543
At 31 October 2023
20,390
126,723
102,786
15,267
265,166
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets as set out below: Freehold buildings - over 50 years Leasehold land and buildings - over lease term Temporary structures - no depreciation charged Plant and machinery (general pool) - 20% per annum, reducing balance method Plant and machinery (MOT bay) - no depreciation charged Fixtures, fittings, tools and equipment - 20% per annum, reducing balance method Motor vehicles - 25% per annum, reducing balance method
5
Inventories
2024
2023
£
£
Finished goods
49,000
77,000
49,000
77,000
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
6
Debtors
2024
2023
£
£
Amounts falling due within one year
Trade debtors
244,651
334,461
Accrued income and prepayments
4,362
4,023
Other debtors
83,694
41,020
332,707
379,504
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Kilmington Cross Garage Ltd Notes to the Accounts for the year ended 31 October 2024
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
16,212
1,041
VAT
448,708
324,870
Trade creditors
115,862
143,829
Taxes and social security
38,304
20,366
Other creditors
16,146
17,228
Loans from directors
118,386
317,206
Accruals
13,050
14,863
766,668
839,403
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
6,462
26,540
9
Pension commitments
Contributions to defined contribution plans are expensed in the period to which they relate.
10
Transactions with related parties
Shute Cross Car Sales SW Limited Associated Company Commercial loan (repayable on demand) advanced to Shute Cross Car Sales SW Limited from Kilmington Cross Garage Limited. Balance owed as at 31 October 2024: £13,213 Balance owed as at 31 October 2023: £9,505 During the year Shute Cross Car Sales SW Limited paid the sum of £13,750 to Kilmington Cross Garage Ltd for rent in respect of commercial premises. WKD Properties Limited Related party transaction by way of Mr I Board owning part of the share capital in WKD Properties Limited. Commercial loan (repayable on demand) advanced to WKD Properties Limited from Kilmington Cross Garage Limited. Balance owed as at 31 October 2024: £33,780 Balance owed as at 31 October 2023: NIL Shute Cross MOT Centre Ltd Related party transaction by way of relative of Mr I Board owning part of the share capital in Shute Cross MOT Centre Ltd. Commercial loan (repayable on demand) advanced to Shute Cross MOT Centre Ltd from Kilmington Cross Garage Limited. Balance owed as at 31 October 2024: £4,940 Balance owed as at 31 October 2023: £7,414 During the year Shute Cross MOT Centre Ltd paid the sum of £8,400 to Kilmington Cross Garage Ltd for rent in respect of commercial premises.
11
Average number of employees
During the year the average number of employees was 20 (2023: 16).
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